Efficiency of Selected Sudanese Sheep Markets: A Bivariate Approach  (1995-2011)

Mohammed O. A.; Murtada Kh. A

Mohammed O. A.
Murtada Kh. A

Abstract

o achieve the objectives of this paper, the following questions were attempted to be answered: 1- Were the sheep prices data in the Sudan had stationarity properties over time? 2- Was there any co integration between these markets in the short and long run?

The data used for this paper covered selected Sudanese Sheep Markets, for the period (1995-2011).

The results reveal that the market of sheep affected each other except the sheep prices of Nyala market which separated of other markets excluding Medani. This result seems to be reasonable, because of the recent paved roads that linked between all these markets which accelerated and facilitated the movement between these markets, in addition to a huge capital that specified toward livestock business recently.

References

El Agip, F. M. . (2001). Marketing of Livestock in the Sudan: An Analysis of its Efficiency.Unpublished Ph.D. Thesis: University of Khartoum, Sudan. .
Emam, A. A. (1999). Market Integration and its Impact on Food Security: A Case Study Selected Markets From Darfur. Unpublished Ph.D. Thesis, University of Khartoum, Sudan.
Engle, Robert F, & Granger, Clive WJ. (1987). Co-integration and error correction: representation, estimation, and testing. Econometrica: journal of the Econometric Society, 251-276.
Fisher, Irving. (1932). Booms and depressions.
Fund, I.M. (2006,). Sudan: 2006 Article IV Consultation and Staff-Monitored Programme Staff Report; IMF Country Report No. 06/182,Washington, DC: IMF, May 2006. .
Gonzalo, Jesus. (1994). Five alternative methods of estimating long-run equilibrium relationships. Journal of econometrics, 60(1), 203-233.
Goodwin, Barry K, & Schroeder, Ted C. (1991). Cointegration tests and spatial price linkages in regional cattle markets. American Journal of Agricultural Economics, 73(2), 452-464.
Gujarati, D. N. . (1995). "Basic Econometrics.3rd ed.Singapore.".
Hannan, Edward J, & Quinn, Barry G. (1979). The determination of the order of an autoregression. Journal of the Royal Statistical Society. Series B (Methodological), 190-195.
Idris, B. . (2008). Livestock Marketing in Eastern and Central Sudan: Sector Policy Note, Sudan Multi Donor Trust Fund National. .
Idris, B. & Abdalla, A M. (2009). Spatial price transmission: A study of sheep markets in Sudan. African Journal of Agricultural and Resource Economics, 3(1), 43-56.
Johansen, Søren. (1988). Statistical analysis of cointegration vectors. Journal of economic dynamics and control, 12(2), 231-254.
Johansen, Søren. (1991). Estimation and hypothesis testing of cointegration vectors in Gaussian vector autoregressive models. Econometrica: Journal of the Econometric Society, 1551-1580.
Levin, Andrew, Lin, Chien-Fu, & Chu, Chia-Shang James. (2002). Unit root tests in panel data: asymptotic and finite-sample properties. Journal of econometrics, 108(1), 1-24.
Phillips, Peter CB, & Perron, Pierre. (1988). Testing for a unit root in time series regression. Biometrika, 75(2), 335-346.

Rapsomanikis, Georege, Hallam, David, & Conforti, Piero. (2006). Market integration and price transmission in sel