Spatial market integration of food markets during a shock: Evidence from food markets in Nigeria
This paper uses comprehensive and long time series monthly food price data and a panel dyadic regression framework to evaluate the impact of the COVID-19 pandemic and associated policy responses on spatial market integration across a diverse set of food items in Nigeria. The empirical results reveal...
| Autores principales: | , , |
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| Formato: | Artículo preliminar |
| Lenguaje: | Inglés |
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International Food Policy Research Institute
2023
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| Materias: | |
| Acceso en línea: | https://hdl.handle.net/10568/132859 |
| _version_ | 1855532627477397504 |
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| author | Amare, Mulubrhan Abay, Kibrom A. Hatzenbuehler, Patrick L. |
| author_browse | Abay, Kibrom A. Amare, Mulubrhan Hatzenbuehler, Patrick L. |
| author_facet | Amare, Mulubrhan Abay, Kibrom A. Hatzenbuehler, Patrick L. |
| author_sort | Amare, Mulubrhan |
| collection | Repository of Agricultural Research Outputs (CGSpace) |
| description | This paper uses comprehensive and long time series monthly food price data and a panel dyadic regression framework to evaluate the impact of the COVID-19 pandemic and associated policy responses on spatial market integration across a diverse set of food items in Nigeria. The empirical results reveal several important insights. First, we show that a significant slowdown in the speed of adjustment and price transmission occurred during the pandemic. For some food items, the speed of adjustment and, by implication, spatial market integration weakened by two- to-threefold after the pandemic outbreak. The effect was especially pronounced for perishable food items. Second, lockdown measures and the spread of the pandemic triggered additional dispersion in market prices across markets. For example, lockdown measures were associated with a 5–10 percent reduction in the speed of readjustment toward long-term equilibrium. Third, additional underlying attributes of markets, including lack of access to digital infrastructure and distance between markets, exacerbated impacts associated with the pandemic. For instance, access to Internet service reduced the slowdown in the speed of adjustment caused by the pandemic, but longer distances between market pairs induced greater slowdown in the speed of price transmission. Our findings offer important insights for revitalizing the efficiency of food markets affected by the pandemic. The heterogenous impacts of the pandemic across value chains and markets reinforce the need to properly target post-pandemic recovery interventions and investments. Finally, we offer some insights to reduce the vulnerability of food and market systems to disruptions in future pandemics or similar phenomena that inhibit food marketing and trade. |
| format | Artículo preliminar |
| id | CGSpace132859 |
| institution | CGIAR Consortium |
| language | Inglés |
| publishDate | 2023 |
| publishDateRange | 2023 |
| publishDateSort | 2023 |
| publisher | International Food Policy Research Institute |
| publisherStr | International Food Policy Research Institute |
| record_format | dspace |
| spelling | CGSpace1328592025-11-06T06:59:12Z Spatial market integration of food markets during a shock: Evidence from food markets in Nigeria Amare, Mulubrhan Abay, Kibrom A. Hatzenbuehler, Patrick L. food prices covid-19 markets infrastructure digital technology regression analysis coronavirus coronavirinae coronavirus disease This paper uses comprehensive and long time series monthly food price data and a panel dyadic regression framework to evaluate the impact of the COVID-19 pandemic and associated policy responses on spatial market integration across a diverse set of food items in Nigeria. The empirical results reveal several important insights. First, we show that a significant slowdown in the speed of adjustment and price transmission occurred during the pandemic. For some food items, the speed of adjustment and, by implication, spatial market integration weakened by two- to-threefold after the pandemic outbreak. The effect was especially pronounced for perishable food items. Second, lockdown measures and the spread of the pandemic triggered additional dispersion in market prices across markets. For example, lockdown measures were associated with a 5–10 percent reduction in the speed of readjustment toward long-term equilibrium. Third, additional underlying attributes of markets, including lack of access to digital infrastructure and distance between markets, exacerbated impacts associated with the pandemic. For instance, access to Internet service reduced the slowdown in the speed of adjustment caused by the pandemic, but longer distances between market pairs induced greater slowdown in the speed of price transmission. Our findings offer important insights for revitalizing the efficiency of food markets affected by the pandemic. The heterogenous impacts of the pandemic across value chains and markets reinforce the need to properly target post-pandemic recovery interventions and investments. Finally, we offer some insights to reduce the vulnerability of food and market systems to disruptions in future pandemics or similar phenomena that inhibit food marketing and trade. 2023-11-07 2023-11-08T21:52:41Z 2023-11-08T21:52:41Z Working Paper https://hdl.handle.net/10568/132859 en https://doi.org/10.1111/agec.12809 Open Access application/pdf International Food Policy Research Institute Amare, Mulubrhan; Abay, Kibrom A.; and Hatzenbuehler, Patrick L. 2023. Spatial market integration of food markets during a shock: Evidence from food markets in Nigeria. IFPRI Discussion Paper 2202. Washington, DC: International Food Policy Research Institute (IFPRI). https://doi.org/10.2499/p15738coll2.136963. |
| spellingShingle | food prices covid-19 markets infrastructure digital technology regression analysis coronavirus coronavirinae coronavirus disease Amare, Mulubrhan Abay, Kibrom A. Hatzenbuehler, Patrick L. Spatial market integration of food markets during a shock: Evidence from food markets in Nigeria |
| title | Spatial market integration of food markets during a shock: Evidence from food markets in Nigeria |
| title_full | Spatial market integration of food markets during a shock: Evidence from food markets in Nigeria |
| title_fullStr | Spatial market integration of food markets during a shock: Evidence from food markets in Nigeria |
| title_full_unstemmed | Spatial market integration of food markets during a shock: Evidence from food markets in Nigeria |
| title_short | Spatial market integration of food markets during a shock: Evidence from food markets in Nigeria |
| title_sort | spatial market integration of food markets during a shock evidence from food markets in nigeria |
| topic | food prices covid-19 markets infrastructure digital technology regression analysis coronavirus coronavirinae coronavirus disease |
| url | https://hdl.handle.net/10568/132859 |
| work_keys_str_mv | AT amaremulubrhan spatialmarketintegrationoffoodmarketsduringashockevidencefromfoodmarketsinnigeria AT abaykibroma spatialmarketintegrationoffoodmarketsduringashockevidencefromfoodmarketsinnigeria AT hatzenbuehlerpatrickl spatialmarketintegrationoffoodmarketsduringashockevidencefromfoodmarketsinnigeria |