Three decades of market liberalization policy in Mali: An analysis of the grain markets

This paper analyzes the level of integration in 9 grain markets in Mali. The results indicate an interdependence among markets where, in majority of cases, more than 56 percent of price variation is due to shocks emanating from Segou market. Ségou market exhibited a high level of interaction with other markets, behaving mostly as a price information leader. Some markets behaved as source of price information, however, without taking a clear price leadership role. This high level of grain market interaction may be attributed to the location of Segou on main road axis linking deficit and surplus production region, establishing itself as a grain commercial hub