. --------------------------------------------This study analyzes the causality (precedence) between the prices of the cocoa producers in the State of Pará and the State … of Bahia and the international cocoa as quoted in the New York Exchange Market (CSCE), through the Granger causality test … Market (CSCE). Co-integration tests were used with the objective of identifying the long run relationships that was confirmed …

, besides observing his causality and direction. For so much, they were made the estacionariedade tests, Granger causality and … co-integration. The test of Granger suggests that there is bi-directional relationship among the price series analyzed …, it was also observed the existence of a relationship of long term between variables, it was also verified through the co-integration …

, such as the non-causality and the non-fundamentalness. They are capable of biasing the estimates in any direction or …

, such as the non-causality and the non-fundamentalness. They are capable of biasing the estimates in any direction or …