Pastoral livestock market integration amidst improvements in physical and communication infrastructure: Evidence from northern Kenya

IF 0.4 Q4 AGRICULTURAL ECONOMICS & POLICY
P. Chelanga, N. Jensen, Kavoi Mutuku Muendo
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引用次数: 0

Abstract

This article analyses the level of integration in pastoral markets in Kenya using high-frequency data generated through a crowdsourcing endeavour. The vector error-correction model framework was used to estimate the causal relationships between the short- and long-run market price. The results indicate that a higher proportion of price variation in larger markets in the region was due to market price shocks, while variation in the smaller markets originated from the larger markets. Weekly adjustments and the convergence of prices on a long-run equilibrium after experiencing shocks were also observed. Price transmission was also evident between markets operating along different trading routes. However, markets located close to production catchments exhibited lower price trends, despite being connected. These results suggest a strong influence of the recent infrastructural investments on price transmission between markets in the region. The findings imply that more investments would enhance the competitive trading environment and reduce unidirectional price transmission.
在有形和通信基础设施改善的背景下,畜牧市场一体化:来自肯尼亚北部的证据
本文使用通过众包努力产生的高频数据分析了肯尼亚畜牧市场的整合水平。采用向量误差修正模型框架估计了短期和长期市场价格之间的因果关系。结果表明,该地区较大市场的价格波动比例较高是由于市场价格冲击,而较小市场的价格波动源于较大市场。在经历冲击后,每周的调整和价格在长期均衡上的趋同也被观察到。沿着不同贸易路线运作的市场之间的价格传递也很明显。然而,位于生产集水区附近的市场尽管相互连接,但价格趋势较低。这些结果表明,最近的基础设施投资对该地区市场之间的价格传递有很大影响。研究结果表明,更多的投资将增强竞争交易环境,减少单向价格传导。
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来源期刊
CiteScore
1.20
自引率
16.70%
发文量
8
期刊介绍: The African Journal of Agricultural and Resource Economics (AfJARE)/Journal Africain d’Economie Agricole et des Ressources (JAEAR) is a publication of the African Association of Agricultural Economists (AAAE). The journal publishes original research about how African agriculture interacts with local and global economic systems and policy regimes in its impacts upon people. The scope of the journal covers the roles of markets, technology, policy, institutions and the natural environment in shaping the lives of well being of Africans engaged in agricultural activities. The journal strives to nurture and enhance the capacity of African professionals to conduct and publish scientific research and provides a venue for communicating and disseminating their findings. Multi-disciplinary, problem-oriented articles are encouraged. Submissions may deal with teaching, research extension, consulting, advising, entrepreneurship and administration. The Chief Editors and Editorial Board, under the general direction of the AAAE President, Executive Committee and Council are charged with implementing Journal policy to serve members of AAAE. The main section of the journal publishes technical research articles while a small section is devoted to publishing brief notes with important policy content and book reviews. The journal is a quarterly publication.
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