Market integration of chickpea crop: an evidence of India

IF 2.4 Q2 AGRICULTURAL ECONOMICS & POLICY
G. Pandey, S. Bansal, Shruti Mohapatra
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引用次数: 0

Abstract

PurposeThe purpose of this paper is to examine the market integration and direction of causality of wholesale and retail prices for the chickpea legume in major chickpea markets in India.Design/methodology/approachIn this paper, the authors employ the Johansen co-integration test, Granger causality test, vector autoregression (VAR), and vector error correction model (VECM) to examine the integration of markets. The authors use monthly wholesale and retail price data of the chickpea crop from select markets in India spanning January 2003–December 2020.FindingsThe results of this study strongly confirm the co-integration and interdependency of the selected chickpea markets in India. However, the speed of adjustment of prices in the wholesale market is weakest in Bikaner, followed by Daryapur and Narsinghpur; it is relatively moderate in Gulbarga. In contrast, the speed of adjustment is negative for Bhopal and Delhi, weak for Nasik, and moderate for retail market prices in Bangalore. The results of the causality test show that the Narsinghpur, Daryapur, and Gulbarga markets are the most influential, with bidirectional relations in the case of wholesale market prices. Meanwhile, the Bangalore market is the most connected and effective retail market among the selected retail markets. It has bidirectional price transmission with two other markets, i.e. Bhopal and Nasik.Research limitations/implicationsThis paper calls for forthcoming studies to investigate the impact of external and internal factors, such as market infrastructure; government policy regarding self-reliant production; product physical characteristics; and rate of utilization indicating market integration. They should also focus on strengthening information technology for the regular flow of market information to help farmers increase their incomes.Originality/valueVery few studies have explored market efficiency and direction of causality using both linear and nonlinear techniques for wholesale and retail prices of chickpea in India.
鹰嘴豆作物的市场整合:印度的证据
目的研究印度主要鹰嘴豆市场鹰嘴豆批发和零售价格的市场整合和因果关系方向。设计/方法论/方法在本文中,作者采用Johansen协整检验、Granger因果关系检验、向量自回归(VAR)和向量误差校正模型(VECM)来检验市场的整合。作者使用了2003年1月至2020年12月印度部分市场鹰嘴豆作物的月度批发和零售价格数据。研究结果有力地证实了印度部分鹰嘴豆市场的共同整合和相互依存性。然而,Bikaner批发市场的价格调整速度最弱,其次是Daryapur和Narsinghpur;古尔巴尔加的气温相对温和。相比之下,博帕尔和德里的调整速度为负,纳西克的调整速度较弱,班加罗尔的零售市场价格则适中。因果关系检验结果表明,Narsinghpur、Daryapur和Gulbarga市场的影响最大,在批发市场价格的情况下具有双向关系。同时,班加罗尔市场是选定零售市场中联系最紧密、最有效的零售市场。它与另外两个市场,即博帕尔和纳西克有双向价格传递。研究局限性/含义本文呼吁即将进行的研究,以调查外部和内部因素的影响,如市场基础设施;政府关于自力更生生产的政策;产品物理特性;以及表明市场一体化的利用率。他们还应重点加强信息技术,使市场信息定期流动,帮助农民增加收入。原创性/价值很少有研究使用线性和非线性技术对印度鹰嘴豆批发和零售价格的市场效率和因果关系方向进行了探索。
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来源期刊
CiteScore
4.60
自引率
37.50%
发文量
58
期刊介绍: The Journal of Agribusiness in Developing and Emerging Economies publishes double-blind peer-reviewed research on issues relevant to agriculture and food value chain in emerging economies in Asia, Africa, Latin America and Eastern Europe. The journal welcomes original research, particularly empirical/applied, quantitative and qualitative work on topics pertaining to policies, processes, and practices in the agribusiness arena in emerging economies to inform researchers, practitioners and policy makers
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