期刊名称：Journal of Agricultural and Resource Economics
印刷版ISSN：1068-5502
出版年度：2016
卷号：41
期号：3
页码：444-457
出版社：WAEA
摘要：This paper investigates market integration and asymmetric price transmission in the world riceexport markets. Using monthly rice prices from Thailand, Vietnam, and United States, we employthe Johansen test and estimate the threshold vector error correction model (TVECM). Our mainfindings are that export prices in the three countries are cointegrated, with Thailand and the UnitedStates the price leaders, and that the Vietnamese price adjusts faster to long-run equilibrium whenit is above its equilibrium level with Thai and U.S. prices. These results suggest market integrationand competition rather than collusion are prevalent in world rice markets. Policy implications arealso briefly discussed.
