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1ACIAR China Grain Market Policy Project Paper No. 4 Food Price Differences and Market Integration in China*
BibTeX
@MISC{Laping_1aciarchina,
author = {Wu Laping},
title = {1ACIAR China Grain Market Policy Project Paper No. 4 Food Price Differences and Market Integration in China*},
year = {}
}
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Abstract
By applying the co-integration approach, this paper tests the market integration for the main agricultural products in China. Both long-run market integration and short-run market integration for the main agricultural products are tested and analysed. The study also calculates the Index of Market Connection (IMC) to measure the degree of market integration of the main agricultural products. The study reveals that the major agricultural product markets in China are integrated in long-run, but the degree of short-run market integration is very low. Therefore, in agricultural product markets, the transmission of price information is very slow and price changes across regions are not responsive. Based on the research results, the study also discusses some policy implications to improve the degree of market integration of agricultural products in China. 1
Keyphrases
market integration food price difference main agricultural product short-run market integration co-integration approach agricultural product policy implication research result market connection price information major agricultural product market long-run market integration price change agricultural product market
