Market integration

Market integration

Market integration occurs when prices among different location or related goods follow similar patterns in a long period. Group of prices often move proportionally to each other and when this relation is very clear among different markets it is said that the markets are integrated. Thus market integration is an indicator that explains how much different markets are related to each other.

Cointegration analysis is the primary tool used for analyzing market integration since most of the price series tend to be nonstationary.[1]

References

  1. ^ Asche, G., Bremnes, H., and Wessells C. R. 1999. Product aggregation, market integration and relationships between prices: An application to world salmon markets. American Journal of Agricultural Economics 81: 568-81.



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