|Table of Contents|

Research of Impact of Trade Environment Change on Domestic and Foreign Soybean Price Transmission System(PDF)

《大豆科学》[ISSN:1000-9841/CN:23-1227/S]

Issue:
2016年01期
Page:
148-154
Research Field:
Publishing date:

Info

Title:
Research of Impact of Trade Environment Change on Domestic and Foreign Soybean Price Transmission System
Author(s):
CHEN Xin1; 2; ZHOU Shu-dong1
1. School of Economics and Management, Nanjing Agricultural University, Nanjing 210095, China;?
2. School of Economics and Management, Jiangxi Agricultural University, Nanchang 330045,China
Keywords:
Trade evironment change;  Soybean price;  VAR model;  Impulse response;  Conduction effect
PACS:
-
DOI:
10.11861/j.issn.1000-9841.2016.01.0148
Abstract:
This article estimated the integration relationship between domestic and foreign soybean market in different periods by using impulse response function and variance decomposition, and discussed the effect of trading environment changes on the transmission mechanism of domestic and foreign soybean prices.Research showed that although experienced several trading environment changes, the influence of foreign soybean price on domestic soybean price is always stronger than that of domestic soybean price on foreign soybean price. Before the soybean crisis in 2004, the contribution rate of domestic soybean market to the change of self price was 83%, but after the crisis, the transmission efficiency of foreign soybean price on domestic soybean price significantly increased and foreign soybean market suffered 65% of the pressure from the domestic soybean price fluctuations.After the implementation of the domestic soybean storage policy in 2008, the transmission mechanism of foreign soybean price on domestic soybean price was almost invalid, but when government canceled the policy in 2014, the transmission efficiency significantly enhanced again,and then the contribution rate of the domestic soybean market to the change of self price decreased to 20% which meaned domestic soybean market was seriously lack of independent pricing power.Finally, some corresponding countermeasures were suggested according to the research results.

References:

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Last Update: 2016-02-05