Cointegeration of Livestock Markets in Sudan:Panel Data Analysis (2000-2015)

الملخص

The main objective of this study is to investigate price movements
among important livestock markets in Sudan to explore their performance
and pricing efficiency. The importance of study livestock marks in Sudan
is the main role for drawing beneficial policies so as to increase the
competitiveness of Sudanese livestock. The problem of the study comes
from the difficult that faced Sudanese economy however,Sudan was
adversely affected by the global crisis through a decline in oil and other
external receipts. Sudan will need to bolster non-oil growth and find
alternative sources of foreign exchange receipts.The main hypothesis of
this paper is that there is no cointegration between livestock prices in the
selected markets. The stationarity of data was tested using the unit root
test and then market integration was tested using panel data cointegration
analysis. The most important finding suggested thatthe panel long run
equilibrium matrix (П) describes the long run effect of the animal’s prices
in each other in all markets, on the other hand, the cattle prices in all
markets affected by its own prices in the previous month and affected
also by the camel prices in the short run. The sheep prices affected just by
its own prices in the short run while the goats affected cattle and sheep
prices in the short run, and affected by it is prices also. Policies for
 facilitating and accelerating export procedure may encourage livestock traders to proceed through banking system, and policies may draw
attention to turn consumer behavior towards goat and camel meat
consumption.