This paper argues that the appropriate standard for the analysis of commodity market integration is the transport cost adjusted law of one price. A threshold error correction model that incorporates that property is developed and applied to French wheat prices in the 19th century. This type of...

"This book analyses the development of the rice trade in Asia since 1945. This book focuses on the three historically important exporters Myanmar, Thailand, and Vietnam and the two key importers Indonesia and the Philippines. The book addresses the impacts of several major transitions during...