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    Cointegration, Causality and Impulse Response Analysis in Major Apple Markets of India

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    Date
    2014
    Author
    Beag, Fayaz Ahmad
    Singla, Naresh
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    Abstract
    The study has investigated market integration across five major wholesale apple markets, viz. Ahmedabad, Bengaluru, Delhi, Hyderabad and Kolkata, of the country by adopting Johansen’s multivariate cointegration approach. The study has confirmed the presence of cointegration, implying the long-run price association among the markets. To get the additional evidence as to whether and in which direction price transmission is occurring between the market pairs, Granger causality test has been used, which has confirmed Delhi to be the price-determining market. Hyderabad has been found comparatively more efficient as it has depicted most bidirectional causal relations with other markets. The market pairs: Ahmedabad — Kolkata and Bengaluru — Kolkata have not shown any causal relation between them. The impulse response functions were also conducted which have confirmed the results of cointegration and Granger causality, but the magnitude of price transmission has been found relatively low in some market pairs that are spatially integrated. The major implication of the study is for the designing of a network of agricultural wholesale markets across the country at almost equal distance from each other to enhance the market integration and better price transmission among them.
    Journal
    Agricultural Economics Research Review
    URI
    http://210.212.34.21/handle/32116/657
    URL
    http://www.indianjournals.com/ijor.aspx?target=ijor:aerr&volume=27&issue=2&article=014
    DOI
    10.5958/0974-0279.2014.00032.9
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    • Economic Studies-Research Publications [92]

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    Initiatives by University Library 
    Central University of Punjab