COSTA RICAN MEAT VALUE CHAIN DESCRIPTION: PRICE TRANSMISSION AS A TOOL

Price transmission analysis is an increasing research topic, especially for price taking countries such as Costa Rica. We describe the beef supply chain and provide a numerical implementation of Vector Error Correction Model (VECM) of price transmission for the meat market in order to observe the re...

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Bibliographic Details
Published in:International journal of food and agricultural economics 2016-07, Vol.4 (3), p.91-101
Main Authors: Lizano, Víctor Rodríguez, Vega, Mercedes Montero
Format: Article
Language:English
Subjects:
Agricultural and Food Policy
Agriculture
Beef industry
Cattle
Consumer/Household Economics
Costa Rica
Demand and Price Analysis
Food Consumption/Nutrition/Food Safety
Food prices
Livestock Production/Industries
Logistics
Marketing
Meat
price transmission
Prices
Productivity Analysis
Studies
supply chain
transaction cost
Value chain
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Summary:Price transmission analysis is an increasing research topic, especially for price taking countries such as Costa Rica. We describe the beef supply chain and provide a numerical implementation of Vector Error Correction Model (VECM) of price transmission for the meat market in order to observe the relationship between import prices of meat and their effects on national retail prices. To restore equilibrium, retail prices correct 8% of the error term monthly. Since the meat imports market of Costa Rica is complex, the analysis of others business partners as Nicaragua should be included in order to compare the influence of these in local retail prices.
ISSN:2147-8988
2149-3766
2149-3766
DOI:10.22004/ag.econ.244389