The behavior of hake prices in Chile: is the world market leading?

Peer Reviewed
10 November 2014

Felipe Quezada, Jorge Dresdner

In this study we analyzed price determination throughout the Chilean hake market chain. To analyze the relationship between different prices which participate in this chain, a VECM model was successfully estimated.

One cointegration vector was identified. Tests for weak exogenous variables, causality, and significance of different variables were performed, and a parsimonious version of the model was selected. The results obtained in this paper outline a price determination process that, in the end, is governed by world market conditions. Moreover, the diverse links in the hake market chain seem to be well integrated, which implies that there is l little room for domestic price determination


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Publication reference
Quezada, F., & Dresdner, J. (2014). The behavior of hake prices in Chile: is the world market leading? Latin American Journal of Aquatic Research, 42(5), 1087–1098. doi:10.3856/vol42-issue5-fulltext-13

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Publication | 23 September 2014