Integração espacial dos estados produtores de açúcar no Brasil e o mercado internacional

• Ano de defesa: 2010
• Autor(a) principal: Borges, Sergio Louro
• Orientador(a): Lírio, Viviani Silva
• Banca de defesa: Pereira, Luciane Reis Raposo , Silva, Orlando Monteiro da , Casali, Giovana Figueiredo Rossi
• Tipo de documento: Dissertação
• Tipo de acesso: Acesso aberto
• Idioma: por
• Instituição de defesa: Universidade Federal de Viçosa
• Programa de Pós-Graduação: Mestrado em Economia Aplicada
• Departamento: Economia e Gerenciamento do Agronegócio; Economia das Relações Internacionais; Economia dos Recursos
• País: BR
• Palavras-chave em Português: Integração de mercados; Açúcar
• Palavras-chave em Inglês: Market integration; Sugar
• Área do conhecimento CNPq: CNPQ::CIENCIAS SOCIAIS APLICADAS::ECONOMIA::ECONOMIA INTERNACIONAL
• Link de acesso: http://locus.ufv.br/handle/123456789/41

This study examined the integration of the domestic sugar market and between this and the international one, measuring its extent, pattern and degree. In the analysis was used the price series of the most representative locations of the five largest sugar producers in Brazil: São Paulo, Paraná, Minas Gerais, Pernambuco and Alagoas, for the foreign market, was considered the prices of New York Board of Trade (NYBOT). The series usedwere from March 2003 to September 2010, had a weekly basis and were logarithmic. The methodology for delineating the extent of the market was the Johansen procedure, which identifies the set of locations that have the same flow of long-term information. To analyze the relationship between the locations was used the Vector Error Correction (VEC), and to analyze the degree of integration the Persistence Profiles, which allowed to define the time required for each location to absorb the shocks in the long run equilibrium. The research results confirmed the hypothesis that the five selected Brazilian locations are integrated, and also they are integrated with the international sugar market. It also found that the short-term adjustment in the domestic market of sugar does not occur in large proportion by price shocks in markets related. As regards the analysis of the degree of market integration was verified that, starting from an initial shock, São Paulohad the faster adjustments than the others locationsfrom the second week. The difference between the two sugarproducing regions of Brazil (South-Central and North-Northeast) was also very apparent when analyzing the time of adjustment to shocks, since in the 24 weeks the state of Alagoas, the most dynamic at the region North-Northeast, filled adjustment of only 80% toward the equilibrium, showing less dynamic behavior than the South-Central region, which at that time, already had reestablished the long run equilibrium.