Integración e transmisión de prezos entre os mercados de millo e do polo de engorde en Brasil
The objective of this paper is to evaluate the dynamics of price transmission between corn and poultry markets in Brazil from 2000 to 2010. The Dickey-Fuller Generalized Least Square (DF-GLS) unit root test, the Granger causality (1969), the Johansen cointegration test (1988), Vector Error Correctio...
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| Format: | Article |
| Language: | English |
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Universidade de Santiago de Compostela
2013-01-01
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| Series: | Revista Galega de Economía |
| Online Access: | http://www.redalyc.org/articulo.oa?id=39129564010 |
| Summary: | The objective of this paper is to evaluate the dynamics of price transmission between corn and poultry markets in Brazil from 2000 to 2010. The Dickey-Fuller Generalized Least Square (DF-GLS) unit root test, the Granger causality (1969), the Johansen cointegration test (1988), Vector Error Correction Model (VEC) and the weak exogenicity tests are applied. We can conclude that have a long run interaction between corn and poultry markets in Brazil (cointegration). The estimated elasticity price transmission shows that 40% of the variations in the corn prices are transmitted to the chicken prices. The exogenicity test indicated that price transmission between this markets are unidirectional, the corn price can consi- dered weak exogenous. |
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| ISSN: | 1132-2799 |