The Response of Ethiopian Grain Markets to Liberalization

Table 11

Independent variables	Margins
Independent variables	Addis¹ Shashemene²	Addis¹ Jimma²	Mekele¹ Addis²	Dire Dawa¹Addis²	Addis¹ Bako²	Dire Dawa¹ Shashemene²
Constant	-5.85	12.44	61.32^b	13.99	21.10^a	8.14
March	0.84	-5.38	-15.45	3.63	5.51	4.47
Apr	-4.22	-1.12	-34.64	4.59	-0.80	0.37
May	-4.32	6.95	-14.64	-0.95	2.22	-5.27
Jun	-13.59^b	0.23	12.14	2.39	-5.55	-11.20
July	-0.57	12.42	58.67^b	4.55	7.00	3.98
Aug	5.60	11.43	44.07^c	-2.56	6.09	3.04
Sept	12.01	15.42	40.41	-10.34	11.95	1.67
Oct	16.00^c	20.43	52.17^c	-10.43	14.72	5.57
Nov	2.01	14.96	22.68	-3.07	12.33^c	-1.06
Dec	-2.48	7.79	-8.78	-7.05	3.95	-9.53
Jan	0.16	0.24	-30.29	0.66	3.02	0.82
Dlib12	-6.54^b	1.45	-31.91^a	1.38	0.52	-5.16
RF¹	0.06^b	-0.06^b	-0.62^b	-0.11^c	-0.06^b	-0.11^c
RF²	0.10^a	0.00399	0.06^b	0.06^b	0.03	0.10^a
FAID¹	0.00015	0.00015	0.00018	0.00028	0.00015	0.00028
FAID²	-0.000568	0.013	-0.00015	-0.00015	-0.0009	-0.000568
P¹ ^p t-1	0.69^a	0.69^a	0.62^a	0.63^a	0.69^a	0.63^a
P² ^p t-1____________________	-0.51^a	-0.79^a	-0.69^a	-0.69^a	-0.87^a	-0.51^a

Note: a, b, and c indicate statistical significance at a probability of less than 1%, 5% and 10% respectively.

SURE estimates of the effects of seasonality, grain market liberalization, rainfall and food aid on maize price
spreads based on the assumption of weak market integration (1984:10 to 1993:12)

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The Response of Ethiopian Grain Markets to Liberalization

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