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  • Does asymmetry in price transmission exist in the rice market in Sri Lanka?

    Author(s)
    Korale Gedara, Pradeepa
    Ratnasiri, Shyama
    Bandaralage, Jayatilleke
    Griffith University Author(s)
    Bandaralage, Jayatilleke
    Ratnasiri, Shyama G.
    Year published
    2015
    Metadata
    Show full item record
    Abstract
    This study analyses asymmetry in price transmission between wholesale and retail rice markets in Sri Lanka, using the threshold autoregressive model. We found that the wholesale and the retail rice markets in Sri Lanka are integrated, with price changes moving from the wholesale to the retail market. However, the price transmission process is asymmetric. In particular, price increases at the wholesale market transmit immediately to the retail market while price decreases transmit more slowly. Parameter stability test and follow-up analysis indicated that the price transmission process is asymmetric only during periods of ...
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    This study analyses asymmetry in price transmission between wholesale and retail rice markets in Sri Lanka, using the threshold autoregressive model. We found that the wholesale and the retail rice markets in Sri Lanka are integrated, with price changes moving from the wholesale to the retail market. However, the price transmission process is asymmetric. In particular, price increases at the wholesale market transmit immediately to the retail market while price decreases transmit more slowly. Parameter stability test and follow-up analysis indicated that the price transmission process is asymmetric only during periods of price surges, suggesting that the rice market is not efficient during these periods.
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    Journal Title
    Applied Economics
    DOI
    https://doi.org/10.1080/00036846.2015.1125427
    Note
    This publication has been entered into Griffith Research Online as an Advanced Online Version.
    Subject
    Applied economics
    Econometrics
    Environment and resource economics
    Publication URI
    http://hdl.handle.net/10072/141566
    Collection
    • Journal articles

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