Cattle Markets Integration and Price Discovery: The Case of Mali
分析了马里10个牛市场的整合程度，发现多数市场价格变动超过70%由自身冲击引起，市场间相互依赖有限，但塞古市场与其他市场互动较多，主要接收价格信息。
This article analyses the level of integration in 10 cattle markets in Mali. The results indicate a limited interdependence among markets where, in majority of cases, more than 70 per cent of price variation is due to own-price shocks. However, the Ségou market exhibited a high level of interaction with other markets, behaving mostly as a price information receiver. Some markets behaved as sources of price information, however, without taking a clear price leadership role. This low level of market integration may be attributed to limited access to livestock markets and timely price information.