Cash and futures prices should reach equality, or converge, upon contract maturity. Traders can impose convergence during the delivery month through arbitrage behavior: either making or taking delivery on futures contracts. If convergence is not predictable, a futures market fails to provide a...

Spatial price integration among five major Bangladesh rice markets is examined in the presence of threshold effects to account for the impact of transaction costs in the price adjustment process. Hansen and Seo (2002) threshold cointegration tests and threshold vector error correction models...

This paper investigates nonlinear dynamics in monthly rice prices of 16 regions in the Philippines at three levels: farm gate, wholesale and retail, over the period of January 1990 to December 2012. We used a series of tests to investigate whether the regional prices are characterized by linear...

As consumers eat healthier and obesity concerns increase, the poultry industry continues growth in sales and revenues. Data reflect ten years of broiler prices, exports, egg and chick production, cold storage stocks, company earnings and stock price. Expected results suggest a broiler-corn ratio...

This paper tests for both long run and short run market efficiency and unbiasedness in five agricultural futures markets. The possible existence of constant and time varying risk premia are taken into account using cointegration procedures and error correction models within a GARCH framework.

Market liberalization at the domestic level and at the boarder level has been a dominant feature of market reforms in most developing countries including Bangladesh during the last two decades. A pre-requisite for producers and consumers to benefit from this new and changing market environment...

The degree to which markets are spatially efficient has important implications for market liberalization and other policy reforms. After several attempts to control and regulate the marketing of maize in Benin, a liberalized free-market system was finally adopted in 1990. It was assumed that a...