양재물류센터와 가락도매시장의 가격비교분석

Comparative Analysis of Yangae and Garak Wholesale Market Prices

This study testsd if the Yangae Agricultural Wholesale and Distribution Center provides higher and more stable prices to producers than the Garak wholesale market as promised. The empirical results do not show any strong evidence that the Yangae prices are consistently higher and stabler than the Garak prices. Even the law of one price does not hold except for only one out of seven commodities examined. However, it is evident from the Granger causality test that the Yangae prices tend to influence the Garak prices to some extent, which can be regarded as a positive effect of the newly introduced marketing system. It is still needed, however, to improve the pricing mechanism for the Yangae Agricultural Wholesale and Distribution Center.