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Awokuse, Titus O.. |
Previous studies on post-reform market performance of Chinese grain markets have produced mixed results. This paper employs province-level price data to determine if China's food market liberalization policies in the 1990s resulted in interregional rice market integration. Furthermore, this study extends the literature on spatial market integration by augmenting multivariate cointegration modeling techniques with directed acyclic models (DAGs), a recently developed statistical method for analyzing contemporaneous causal relationships. While the empirical results confirm the existence of strong market linkages subsequent to the reforms of the early 19902, the linkages became less as the Chinese government reversed several reform policies in the mid-1990s.... |
Tipo: Journal Article |
Palavras-chave: Directed acyclic graphs; Grain prices; Interregional trade; Market liberalization; Spatial price dynamics; Marketing. |
Ano: 2007 |
URL: http://purl.umn.edu/8603 |
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Wocken, Meike; Kneib, Thomas. |
This study examines the effect of European intervention politics in the European butter market in the context of market liberalization using the example of Germany. A heteroscedastic Tobit model is estimated using German butter market data from 1973-2010. There is evidence that price support has reduced price instability in the butter market. Simulation indicates that enhancing intervention price causes an increase in the expected butter price in the long-run, even though if market price is higher than intervention level. We find changing effects of stockpiling. If difference between market and intervention price is small and stock quantity is high, it significantly contributes to reducing price volatility. On the contrary if price difference is large and... |
Tipo: Presentation |
Palavras-chave: Censored regression; Market liberalization; Butter market; Agricultural and Food Policy; Risk and Uncertainty; C5; D4; Q11.. |
Ano: 2012 |
URL: http://purl.umn.edu/122528 |
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