National Academy of Agricultural Sciences (NAAS)
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PRINT ISSN : 2319-7692
Online ISSN : 2319-7706 Issues : 12 per year Publisher : Excellent Publishers Email : editorijcmas@gmail.com / submit@ijcmas.com Editor-in-chief: Dr.M.Prakash Index Copernicus ICV 2018: 95.39 NAAS RATING 2020: 5.38 |
This paper employs the panel cointegration tests to analyse the long run relationships between papaya markets in India, using data of monthly average wholesale papaya price from January, 2001 to December, 2016. Cointegration analysis and the cointegration regression are applied along with the causality test to find the long run relationship between markets. The result indicated that there is a panel long-run equilibrium relationship among the markets. The regression coefficients of both FMOLS and DOLS indicated that Bangalore market price heavily influences the price of papaya in Chennai market with the regression coefficient value of 5.7 per cent and 5.6 per cent respectively. Both Pairwise Granger causality and Dumitrescu Hurlin Panel causality test also confirms bidirectional relationship among Bangalore market and Ahmedabad market. Bidirectional relationship was also found in Chennai and Bangalore, Bangalore and Bhopal markets. Finally, it is observed that Bangalore market price influences the price series in other market of our study. Still market integration can be improved by making up-to-date market information available to all participants.
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