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Research Article Open Access
The main objective of this study is to investigate price movements among important sheep markets in the Sudan to explore their pricing efficiency. The short period of long-run equilibrium adjustment indicated that there are strong price linkages between Omdurman and other four markets (Elobied, Medani, Sennar and Nyala markets). The prices causality indicated unidirectional relation causality of Nyala market through Medani and Elobied markets. Nyala markets as terminal market located in production area Granger cause Medani and Omdurman as major consumption markets; this was taken as evidence that price movements were primarily driven by supply shocks. That mean the system was centred on Nyala i.e. Nyala could be considered as a supply market in sheep market which means the prices were supply driven.
Market efficiency, Sheep, Multivariate cointegration, Sudan, Economic Capital, Financial Economics, Hospitality Management, Industrial and Management Optimization, Innovation Policy and the Economy, Socio-Economic Planning Sciences, Economic indicator, Total Quality Management (TQM), Value based Management, Entrepreneurial Development, Management in Education, Classical Economics, Monetary Neutrality, Econometrics, New Economy, Welfare Economics, Development Economics, Economic Transparency, Globalisation, Game theory