Market integration of cold and warmwater shrimp in Europe
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Market integration of cold and warmwater shrimp in Europe. / Ankamah-Yeboah, Isaac; Ståhl, Lisa; Nielsen, Max.
I: Marine Resource Economics, Bind 32, Nr. 4, 2017, s. 371-390.Publikation: Bidrag til tidsskrift › Tidsskriftartikel › fagfællebedømt
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TY - JOUR
T1 - Market integration of cold and warmwater shrimp in Europe
AU - Ankamah-Yeboah, Isaac
AU - Ståhl, Lisa
AU - Nielsen, Max
PY - 2017
Y1 - 2017
N2 - This study examines market integration between the cold and warmwater shrimp value chain in the UK, Denmark, Italy, Sweden, and Norway using cointegration methods. For all countries, market integration exists between cold and warmwater unprocessed shrimp imports, where the law of one price (LOP) holds in three of the five cases. For processed shrimp, the LOP holds in three of four integrated cases, and for retail sales in the UK and Denmark, the LOP fails to hold in the presence of market integration. Unprocessed coldwater shrimp leads the market in northern Europe. Downstream, prices adjust within a few months, indicating that a shrimp is a shrimp. In the short-run, the coldwater value chain seems to be protected from competition, but provides opportunities for a shift in consumer demand towards warmwater in the long-run. This implies that coldwater shrimp prices are determined by demand and supply of warmwater shrimp, which is 15 times larger.
AB - This study examines market integration between the cold and warmwater shrimp value chain in the UK, Denmark, Italy, Sweden, and Norway using cointegration methods. For all countries, market integration exists between cold and warmwater unprocessed shrimp imports, where the law of one price (LOP) holds in three of the five cases. For processed shrimp, the LOP holds in three of four integrated cases, and for retail sales in the UK and Denmark, the LOP fails to hold in the presence of market integration. Unprocessed coldwater shrimp leads the market in northern Europe. Downstream, prices adjust within a few months, indicating that a shrimp is a shrimp. In the short-run, the coldwater value chain seems to be protected from competition, but provides opportunities for a shift in consumer demand towards warmwater in the long-run. This implies that coldwater shrimp prices are determined by demand and supply of warmwater shrimp, which is 15 times larger.
U2 - 10.1086/693048
DO - 10.1086/693048
M3 - Journal article
VL - 32
SP - 371
EP - 390
JO - Marine Resource Economics
JF - Marine Resource Economics
SN - 0738-1360
IS - 4
ER -
ID: 182092634