Integración espacial del mercado de la carne en las tres principales ciudades de Colombia:

Abstract

We study the spatial integration of the beef, pork and poultry markets in Bogotá, Cali and Medellín, the three largest cities of Colombia. We use monthly data between January 1999 and May 2007. To determine the long run relationship among prices of each quality of product in the three cities, we use Johansen’s cointegration test and Breitung’s non-parametric cointegration test. These tests show that there is no spatial integration in any of the six markets studied. Thus, market forces do not compensate regional imbalances, because prices are not an efficient signal for product reallocation.