Testing Market Integration
提出一种分析可贸易商品空间价格差异的新模型，避免传统静态价格相关方法的推断风险，并从相同数据中提取更多关于价格差异成因的信息。以孟加拉国独立后月度大米价格数据为例，包括1974年饥荒期间巨大的区域价格冲击，揭示了市场整合的障碍。
Abstract A model of spatial price differentials for a tradable good is proposed which avoids the inferential dangers of received methods using static price correlations. The proposed method also extracts more information on the causes of price differentials from the same data. The method is illustrated using monthly rice price data for postindependence Bangladesh, including the very substantial regional price shocks during the 1974 famine. Impediments to market integration are indicated.