Testing for Philippines rice market integration: a multiple cointegration approach

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Abstract

In this paper we demonstrate the use of Johansen's multiple cointegration technique as a test for spatial market integration. We argue that this technique overcomes many of the limitations of previous methods for testing market integration. An application of this approach to the Philippines rice markets indicates that these markets are generally well integrated in the long‐run with Manila as the dominant market. However, there are other inter‐regional relationships which are important in the short term.

Original languageEnglish
Pages (from-to)369-380
Number of pages12
JournalJournal of Agricultural Economics
Volume45
Issue number3
DOIs
Publication statusPublished - Sep 1994
Externally publishedYes

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