چکیده:
This study investigates the Iranian tea market structure based on the price transmission mechanism between farm, wholesale and retail prices using annual data for the period 1977–2010. For the study of the asymmetry, the Johansen cointegration analysis was used while at the same time an Error Correction Model (ECM Model) was estimated. With the assistance of the cointegration technique, we surveyed the existence of a long-run relationship between farm and wholesale prices, farm and retail prices. The causality test showed that the farm price determines wholesale and retail prices and the wholesale price causes the retail price, whereas the reverse was determined not to be valid. In addition, application for an error correction model confirmed the existence of asymmetry in the price transmission mechanism within the farm-retail and wholesale-retail. This study used concentration ratios and a Herfindahl-Hirschman indicator to show that the market structure of the Iranian tea industry is almost exclusive. The presence of market power and the exclusive market structure of the Iranian tea industry are the main reasons for price asymmetry.
خلاصه ماشینی:
"Nikookar, Hosseini and Doorandish (2010) studied price transmission between the different levels of the Iranian beef market using weekly statistics for farm, slaughterhouse and retail beef prices during the period 1998–2005.
A structural break test (CUSUMQ) was conducted for the two estimated models and results show a structural break had taken place since 1989 for on-garden to wholesale equation and For on-garden to retail equation occurred during the years 1996–2005, which exerted an incremental shock on the tea market affecting the Iranian Ministry of Agriculture’s support for tea cultivation and the tea industry.
On the whole, the price transmission model for the on-garden to wholesale level indicates symmetry in the Iranian tea market.
On the whole, the price transmission model on-garden to retail level and from the wholesale to the retail level indicate asymmetry in Iran’s tea market.
2 140 Average Source: Reserch Findings It is concluded that the market power of a limited number of tea processing plants and the multilateral monopoly structure of the Iranian tea market are among the most important reasons for asymmetrical price transmission of tea from the on-garden and the wholesale to the retail market levels.
To summarize, we can say that the empirical validity of the APT with the application of the method mentioned above (despite the robustness of the data and the method employed) provides us with a strong indication for the inefficiency in the Iranian tea market (asymmetry in the price transmission mechanism) allowing the policy makers to take measures aiming at the limitation of this problem."