Food versus crude oil: what do prices tell us? Evidence from China
作者： Yumeng Wang , Shuoli Zhao , Zhihai Yang , Donald J. Liu
DOI: 10.1108/CAER-09-2014-0091
关键词:
摘要: Purpose – The purpose of this paper is to investigate the causal relationship between prices rice, crude oil, wheat, corn and soybean in China estimate long-run short-run price relationships. Design/methodology/approach Using monthly date over period January 1998-December 2013 China, employs an autoregressive distributed lag (ARDL) bounds test explore cointegration among variables ARDL error correction process (ARDL-EC). Findings empirical results indicate that as one forcing along with corn, prices, effecting rice China. Both transmission elasticity estimates suggest importance oil on formation prices. Furthermore, adjustment speed coefficient found be statistically significant, supporting notion there correc...
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