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Granger causality test: Granger-causality test are used to analyse cause effect relationship between two markets, the results in table 6 indicate the price in Hyderabad Market Granger-causes the price in Lahore and Quetta. Hyderabad dominates price formation with these regional markets except Peshawar market due to long distance. We found unidirectional and bidirectional causality in the chilli markets of Pakistan. Table 6. Pairwise Granger causality tests. Table 5. Vector error correction model results of chilli crop markets of Pakistan.

Table 6 Granger causality test: Granger-causality test are used to analyse cause effect relationship between two markets, the results in table 6 indicate the price in Hyderabad Market Granger-causes the price in Lahore and Quetta. Hyderabad dominates price formation with these regional markets except Peshawar market due to long distance. We found unidirectional and bidirectional causality in the chilli markets of Pakistan. Table 6. Pairwise Granger causality tests. Table 5. Vector error correction model results of chilli crop markets of Pakistan.

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Market Integration of Wholesale Chilli Prices of Pakistan Mehar ul Nissa Rais!*, Tehmina Mangan!, Jam Ghulam Murtaza Sahito', Hakimzadi Wagan! Naeem Ahmed Qureshi”, Ghulam Mujtaba Khushk’, Arshad Ali Narejo*, Zuheb Hussain Mirjat!
Market Integration of Wholesale Chilli Prices of Pakistan Mehar ul Nissa Rais!*, Tehmina Mangan!, Jam Ghulam Murtaza Sahito', Hakimzadi Wagan! Naeem Ahmed Qureshi”, Ghulam Mujtaba Khushk’, Arshad Ali Narejo*, Zuheb Hussain Mirjat!
Fig. 1: Wholesale prices of chilli from June, 2000 to July, 2019. that the highest price in Quetta market and lowest price at Hyderabad was recorded, as compared to other chilli markets of the Pakistan during the year 2011-2013 (Figure 1). Results are agreed with Ismail (2015), Ghafoor et al. (2009) and Marri, (2010), found some spatial variations between the district market prices as well as some seasonal variations. STCNUS OF WHUICSAIC PLIces OF CHIE HI FaKistall. LUC results of trends of wholesale prices of chilli shows that the prices in different markets of Pakistan change at same time. Similarly, marketing system of Sindh also shows inefficiencies and prices fluctuations were observed. Tendency of wholesale chilli prices showed
Fig. 1: Wholesale prices of chilli from June, 2000 to July, 2019. that the highest price in Quetta market and lowest price at Hyderabad was recorded, as compared to other chilli markets of the Pakistan during the year 2011-2013 (Figure 1). Results are agreed with Ismail (2015), Ghafoor et al. (2009) and Marri, (2010), found some spatial variations between the district market prices as well as some seasonal variations. STCNUS OF WHUICSAIC PLIces OF CHIE HI FaKistall. LUC results of trends of wholesale prices of chilli shows that the prices in different markets of Pakistan change at same time. Similarly, marketing system of Sindh also shows inefficiencies and prices fluctuations were observed. Tendency of wholesale chilli prices showed
Unit root test: In current research, Augmented Dickey-Fuller (ADF) test was used on four wholesale price series of chilli markets to determine the integration. The existence of unit root is refused at 1% level of significance for all price series after their first difference (Table 02). Unit root test result provides the evidence that whole price series are found non- Table 1. Descriptive statistics of monthly wholesale prices for chilli in selected markets from June, 2000-July, 2019
Unit root test: In current research, Augmented Dickey-Fuller (ADF) test was used on four wholesale price series of chilli markets to determine the integration. The existence of unit root is refused at 1% level of significance for all price series after their first difference (Table 02). Unit root test result provides the evidence that whole price series are found non- Table 1. Descriptive statistics of monthly wholesale prices for chilli in selected markets from June, 2000-July, 2019
Table 2. Unit root test (Augmented Dickey Filler).
Table 2. Unit root test (Augmented Dickey Filler).
Table 3. Pairwise co-integration test results (logged chilli market prices).
Table 3. Pairwise co-integration test results (logged chilli market prices).
Table 4. Joint cointegration test results logged chilli market prices. Vector error correction model results: The results of table 5 shows the _ significant adjustment of prices in almost all the pairs of markets except the Peshawar market. Mukhtar and Tariq (2008); Ghafoor et al, (2009); Umer eft al., (2015) also found - significant adjustment of prices in different markets.
Table 4. Joint cointegration test results logged chilli market prices. Vector error correction model results: The results of table 5 shows the _ significant adjustment of prices in almost all the pairs of markets except the Peshawar market. Mukhtar and Tariq (2008); Ghafoor et al, (2009); Umer eft al., (2015) also found - significant adjustment of prices in different markets.
Umer et al. (2015) also found unidirectional causality running from Peshawar-Karachi -Lahore among wheat markets. Similarly, Ghafoor et al. (2009) applied Causality test; result shows that the Karachi market has bidirectional causality with Lahore-Faisalabad-Multan- Hyderabad and Sukkur and a_ unidirectional relationship with the rest. Also, current research findings are in agreement with Zahid et al. (2007).
Umer et al. (2015) also found unidirectional causality running from Peshawar-Karachi -Lahore among wheat markets. Similarly, Ghafoor et al. (2009) applied Causality test; result shows that the Karachi market has bidirectional causality with Lahore-Faisalabad-Multan- Hyderabad and Sukkur and a_ unidirectional relationship with the rest. Also, current research findings are in agreement with Zahid et al. (2007).
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