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International Journal of Economics & Management Sciences

Efficiency of Selected Sudanese Cattle Markets: Multivariate Cointegration Approach (1995-2011)

Bushara MOA1 * and Abdelmahmod MKA2
1Faculty of Agricultural Sciences, University of Gezira, Wad Medani, Sudan 2Faculty of Management Sciences and Economics, Department of Economics, University of AL-Butana, Rufaa, Sudan
Abstract :

The importance of the livestock trade to the national economy of Sudan is significant; however, Sudan was adversely affected by the global crisis through a decline in oil and other external receipts. The main objectives of this study is to investigates price movements among important livestock markets in the Sudan to explore their performance and pricing efficiency. The stationarity of data tested using the unit root test and then market integration was tested using multivariate cointegration analysis. The study found that most cattle markets were integrated with each other, which showed the co-movement of prices, and this indicates market efficiency in sense that efficiency means existent of integration and cointegration of market prices. The prices of Omdurman cattle market has effect on all cattle markets in Sudan in short and long run.

Keywords :
Efficiency; Analysis; Cattle markets; Multivariate cointegration Sudan

Date Deposited : 03 May 2016 21:12

Last Modified : 03 May 2016 21:12

Official URL: http://www.omicsonline.com/

Volume 4, Number 7, July 2015 , ISSN 2162-6359

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