The Response of Ethiopian Grain Markets to Liberalization

Appendix 6 Results of unit root tests¹ for white teff prices spreads among different markets

Spread	Level		First Differences
Spread	ADF	PP	ADF	PP
Addis - Bako	-2.58^c	-2.02	-9.08^a	-11.23^a
Addis - Bahir Dar	-1.57	-1.50	-8.02^a	-13.19^a
Dire Dawa - Addis	-4.61^a	-5.92^a	-11.14^a	-17.69^a
Dire Dawa - Bako	-3.37^b	-2.61^c	-9.59^a	-13.48^a
Dire Dawa - Bahir Dar	-2.33	-2.23	-9.41^a	-15.66^a
Dire Dawa - Hosaenna	-2.98^b	-2.81^c	-9.69^a	-14.18^a
Addis - Hosaenna	-2.45	-2.42	-8.50^a	-13.21^a
Mekele - Addis	-2.09	-1.81	-5.52^a	-^b 6.34^a
Mekele - Bako	-1.69	-1.26	-6.06^a	-6.34^a
Mekele - Bahir Dar	-1.62	-1.13	-4.85^a	-5.31^a
Mekele - Hosaenna	-1.27	-1.03	-5.40^a	-6.67^a__________

Note ¹The unit root tests are conducted for three time periods: period I is from 1987:07 to 1991:03, period II is
from 1991:04 to 1996:06 while the whole series is from 1987:07 to 1996:06.

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

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