Market price integration in fisheries sector using co-integration technique

Shinoj, P (2023) Market price integration in fisheries sector using co-integration technique. In: Training Manual on Advanced Analytical Tools for Social Science Research Vol.2. CMFRI Training Manual Series No. 29/2023 . ICAR- Central Marine Fisheries Research Institute, Kochi, pp. 45-50.

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Abstract

Stationarity is an important pre-requisite for time-series variables to possess and to be used effectively for drawing standard statistical/economic inferences involving them. A time-series is considered to be stationary if it possesses constant unconditional mean and variance over time. Such series perpetually return to their long-run equilibrium mean and variance in spite of temporary fluctuations. In economic literature, the implications of drawing economic inferences based on analysis involving non-stationary variables were more or less ignored for a long time. The irrationality of running spurious regressions with non-stationary time series and drawing important conclusions based on such analysis came to light with the publication of seminal papers by Granger and Newbold (1972) and Nelson and Plosser (1982). Thereafter, diagnostic checks for stationarity have emerged as an important norm before proceeding to any econometric analysis involving time-series variables.

Item Type:	Book Section
Uncontrolled Keywords:	Market price integration
Subjects:	Socio Economics and Extension Socio Economics and Extension > Fisheries Economics
Divisions:	CMFRI-Kochi > Marine Capture > Fishery Resources Assessment, Economics and Extension Division Subject Area > CMFRI > CMFRI-Kochi > Marine Capture > Fishery Resources Assessment, Economics and Extension Division CMFRI-Kochi > Marine Capture > Fishery Resources Assessment, Economics and Extension Division Subject Area > CMFRI-Kochi > Marine Capture > Fishery Resources Assessment, Economics and Extension Division
Depositing User:	Arun Surendran
Date Deposited:	28 Jun 2023 11:53
Last Modified:	30 Jun 2023 07:17
URI:	http://eprints.cmfri.org.in/id/eprint/17199

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