Analysis of price transmission elasticity in the Brazilian cotton market
The article analyzes the elasticity of price transmission in the Brazilian cotton market from January, 1985, to December, 2000. For this purpose, the Dickey-Fuller Augmented (ADF) unit root test, the Johansen cointegration test, the Vector Error Correction model (VEC), and the exogenicity test are a...
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| Veröffentlicht in: | Nova economia (Belo Horizonte, Brazil) Brazil), 2002-07, Vol.12 (2), p.79-108 |
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| container_title | Nova economia (Belo Horizonte, Brazil) |
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| creator | Zeferino Barbosa, Marisa Margarido, Mario Antonio Nogueira Junior, Sebastião |
| description | The article analyzes the elasticity of price transmission in the Brazilian cotton market from January, 1985, to December, 2000. For this purpose, the Dickey-Fuller Augmented (ADF) unit root test, the Johansen cointegration test, the Vector Error Correction model (VEC), and the exogenicity test are applied. The results show that the One Price Law does not apply to the Brazilian cotton market, because variations in cotton international prices are not fully transmitted to domestic prices in Brazil in the long run. The exogenicity test shows that domestic cotton prices in Brazil do not react to changes in the long run equilibrium relationship. Possibly, these results are directly associated with government intervention in the sector (1985 to 1988) as well as to the credit conditions available for cotton acquisition in the international market between 1990 and 1997. Reprinted by permission of the Departamento de Ciências Econômicas da UFMG |
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For this purpose, the Dickey-Fuller Augmented (ADF) unit root test, the Johansen cointegration test, the Vector Error Correction model (VEC), and the exogenicity test are applied. The results show that the One Price Law does not apply to the Brazilian cotton market, because variations in cotton international prices are not fully transmitted to domestic prices in Brazil in the long run. The exogenicity test shows that domestic cotton prices in Brazil do not react to changes in the long run equilibrium relationship. Possibly, these results are directly associated with government intervention in the sector (1985 to 1988) as well as to the credit conditions available for cotton acquisition in the international market between 1990 and 1997. Reprinted by permission of the Departamento de Ciências Econômicas da UFMG</description><identifier>ISSN: 0103-6351</identifier><language>por</language><subject>Brazil ; Cotton market ; Economic law ; Economics ; Equilibrium ; International trade ; Price elasticity ; Prices ; Transmission mechanism</subject><ispartof>Nova economia (Belo Horizonte, Brazil), 2002-07, Vol.12 (2), p.79-108</ispartof><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><link.rule.ids>314,780,784</link.rule.ids></links><search><creatorcontrib>Zeferino Barbosa, Marisa</creatorcontrib><creatorcontrib>Margarido, Mario Antonio</creatorcontrib><creatorcontrib>Nogueira Junior, Sebastião</creatorcontrib><title>Analysis of price transmission elasticity in the Brazilian cotton market</title><title>Nova economia (Belo Horizonte, Brazil)</title><description>The article analyzes the elasticity of price transmission in the Brazilian cotton market from January, 1985, to December, 2000. For this purpose, the Dickey-Fuller Augmented (ADF) unit root test, the Johansen cointegration test, the Vector Error Correction model (VEC), and the exogenicity test are applied. The results show that the One Price Law does not apply to the Brazilian cotton market, because variations in cotton international prices are not fully transmitted to domestic prices in Brazil in the long run. The exogenicity test shows that domestic cotton prices in Brazil do not react to changes in the long run equilibrium relationship. Possibly, these results are directly associated with government intervention in the sector (1985 to 1988) as well as to the credit conditions available for cotton acquisition in the international market between 1990 and 1997. Reprinted by permission of the Departamento de Ciências Econômicas da UFMG</description><subject>Brazil</subject><subject>Cotton market</subject><subject>Economic law</subject><subject>Economics</subject><subject>Equilibrium</subject><subject>International trade</subject><subject>Price elasticity</subject><subject>Prices</subject><subject>Transmission mechanism</subject><issn>0103-6351</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2002</creationdate><recordtype>article</recordtype><recordid>eNqNzD0OwjAMQOEMIFF-7uCJrVLaQGEFBOoB2CsrSoUhTUrsDuX0dOAATG_59GYq04U2eWX2xUItmZ9al8YUVabqU0A_MjHEFvpE1oEkDNwRM8UAziMLWZIRKIA8HJwTfsgTBrBRZCIdppeTtZq36Nltfl2p7e16v9R5n-J7cCzNtLTOewwuDtyYw7Esy50xf8Mvtr0_Nw</recordid><startdate>20020701</startdate><enddate>20020701</enddate><creator>Zeferino Barbosa, Marisa</creator><creator>Margarido, Mario Antonio</creator><creator>Nogueira Junior, Sebastião</creator><scope>8BJ</scope><scope>FQK</scope><scope>JBE</scope></search><sort><creationdate>20020701</creationdate><title>Analysis of price transmission elasticity in the Brazilian cotton market</title><author>Zeferino Barbosa, Marisa ; Margarido, Mario Antonio ; Nogueira Junior, Sebastião</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-proquest_miscellaneous_378222433</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>por</language><creationdate>2002</creationdate><topic>Brazil</topic><topic>Cotton market</topic><topic>Economic law</topic><topic>Economics</topic><topic>Equilibrium</topic><topic>International trade</topic><topic>Price elasticity</topic><topic>Prices</topic><topic>Transmission mechanism</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Zeferino Barbosa, Marisa</creatorcontrib><creatorcontrib>Margarido, Mario Antonio</creatorcontrib><creatorcontrib>Nogueira Junior, Sebastião</creatorcontrib><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>International Bibliography of the Social Sciences</collection><collection>International Bibliography of the Social Sciences</collection><jtitle>Nova economia (Belo Horizonte, Brazil)</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Zeferino Barbosa, Marisa</au><au>Margarido, Mario Antonio</au><au>Nogueira Junior, Sebastião</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Analysis of price transmission elasticity in the Brazilian cotton market</atitle><jtitle>Nova economia (Belo Horizonte, Brazil)</jtitle><date>2002-07-01</date><risdate>2002</risdate><volume>12</volume><issue>2</issue><spage>79</spage><epage>108</epage><pages>79-108</pages><issn>0103-6351</issn><abstract>The article analyzes the elasticity of price transmission in the Brazilian cotton market from January, 1985, to December, 2000. For this purpose, the Dickey-Fuller Augmented (ADF) unit root test, the Johansen cointegration test, the Vector Error Correction model (VEC), and the exogenicity test are applied. The results show that the One Price Law does not apply to the Brazilian cotton market, because variations in cotton international prices are not fully transmitted to domestic prices in Brazil in the long run. The exogenicity test shows that domestic cotton prices in Brazil do not react to changes in the long run equilibrium relationship. Possibly, these results are directly associated with government intervention in the sector (1985 to 1988) as well as to the credit conditions available for cotton acquisition in the international market between 1990 and 1997. Reprinted by permission of the Departamento de Ciências Econômicas da UFMG</abstract></addata></record> |
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| ispartof | Nova economia (Belo Horizonte, Brazil), 2002-07, Vol.12 (2), p.79-108 |
| issn | 0103-6351 |
| language | por |
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| source | DOAJ Directory of Open Access Journals; EZB-FREE-00999 freely available EZB journals |
| subjects | Brazil Cotton market Economic law Economics Equilibrium International trade Price elasticity Prices Transmission mechanism |
| title | Analysis of price transmission elasticity in the Brazilian cotton market |
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