Price thresholds, price volatility, and the private costs of investment in a developing country grain market

TR Number
Date
2001
Journal Title
Journal ISSN
Volume Title
Publisher
London, England: North-Holland
Abstract

This paper discusses price thresholds and volatility in an African maize market, based on analysis of data from Ghana using linear and threshold-ARCH models. There was a non-linear link between past prices and the level and volatility of present prices. The paper also describes the importance of critical thresholds for economic inference and reports on the cost of market participation, using econometric results to account for the implied risk.

Description
Metadata only record
Keywords
Economic analyses, Markets, Storage infrastructure, Marketing and trade, Vulnerability and risk, Ghana, Food price variability, Investment under uncertainty, Threshold arch, Regression model, Maize, Price volatility, Price thresholds, Grain storage, Farm/Enterprise Scale Governance
Citation
Economic Modelling 18(3): 399-414