The Law of One Price and the Cointegration of Meat Price in the Global Market: the Case of Iran’s Market

In view of the importance of the meat imports and theexports of meat in iran, this study focuses on the status ofthe global market of meat imports the unit price test in thesemarkets between the years 1961 and 2011 using the marketcointegration approach. the results of this study are indicativeof prices co-integration in the international market of meat aswell as among such major importers as the us, germany,italy, japan, france and russia. however, the important pointis that no price co-integration has been observed between theglobal prices of meat and the import price in iran’s importmarket. moreover, no law of one price has been establishedin iran’s import market in the long term; and in this respect,these markets lack the appropriate efficiency.