Efficiency of Selected Sudanese Cattle Markets: Multivariate Co-integration Approach (1995-2011)Bushara MOA1* and Abdelmahmod MKA2
- *Corresponding Author:
- Mohamed Bushara
Faculty of Agricultural Sciences
University of Gezira, P. O. Box 20
Wad Medani, Sudan
E-mail: [email protected]
Received Date: April 29, 2015; Accepted Date: May 26, 2015; Published Date: June 06, 2015
Citation: Bushara MOA, Abdelmahmod MKA (2015) Efficiency of Selected Sudanese Cattle Markets: Multivariate Cointegration Approach (1995-2011). Int J Econ Manag Sci 4:264. doi:10.4172/21626359.1000264
Copyright: © 2015 Bushara MOA, et al. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
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.