Modeling the Grain Import Trade: A Cointegration Analysis of China’s Panel Data

In recent years, China has become the world’s largest importer of grain, and scholars have particularly examined whether China’s grain import trade presents this effect. By applying cointegration analysis to trade statistics panel data of China’s wheat, corn, rice, and soybean production and imports...

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Autores principales:	Feng Zhao, Pingping Sun, Jie Zhang
Formato:	article
Lenguaje:	EN
Publicado:	Hindawi Limited 2021
Materias:	Mathematics QA1-939
Acceso en línea:	https://doaj.org/article/f087a1e549124444b439e0bfd343dd17
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spelling	oai:doaj.org-article:f087a1e549124444b439e0bfd343dd172021-11-08T02:35:52ZModeling the Grain Import Trade: A Cointegration Analysis of China’s Panel Data1607-887X10.1155/2021/3673282https://doaj.org/article/f087a1e549124444b439e0bfd343dd172021-01-01T00:00:00Zhttp://dx.doi.org/10.1155/2021/3673282https://doaj.org/toc/1607-887XIn recent years, China has become the world’s largest importer of grain, and scholars have particularly examined whether China’s grain import trade presents this effect. By applying cointegration analysis to trade statistics panel data of China’s wheat, corn, rice, and soybean production and imports from January 2016 to December 2019, this paper empirically tests for the existence of the great country effect in China’s grain import trade. The results show that during the sample period, there is a long-term stable equilibrium relationship between the import volume, domestic price, and international price of the four major grains; the great country effect in the import trade of wheat and rice is not significant. The imports of corn and soybean present a great country effect to a certain extent in the short term; moreover, a change in the grain price in the international market does not lead to a change in China’s grain import volume, which shows that the great country effect in China’s grain import trade is distorted. Therefore, China should pay close attention to the impact of international factors on the fluctuation of its own food prices and enhance its ability to rationally utilize the international food market and international agricultural resources to ensure domestic food security.Feng ZhaoPingping SunJie ZhangHindawi LimitedarticleMathematicsQA1-939ENDiscrete Dynamics in Nature and Society, Vol 2021 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	Mathematics QA1-939
spellingShingle	Mathematics QA1-939 Feng Zhao Pingping Sun Jie Zhang Modeling the Grain Import Trade: A Cointegration Analysis of China’s Panel Data
description	In recent years, China has become the world’s largest importer of grain, and scholars have particularly examined whether China’s grain import trade presents this effect. By applying cointegration analysis to trade statistics panel data of China’s wheat, corn, rice, and soybean production and imports from January 2016 to December 2019, this paper empirically tests for the existence of the great country effect in China’s grain import trade. The results show that during the sample period, there is a long-term stable equilibrium relationship between the import volume, domestic price, and international price of the four major grains; the great country effect in the import trade of wheat and rice is not significant. The imports of corn and soybean present a great country effect to a certain extent in the short term; moreover, a change in the grain price in the international market does not lead to a change in China’s grain import volume, which shows that the great country effect in China’s grain import trade is distorted. Therefore, China should pay close attention to the impact of international factors on the fluctuation of its own food prices and enhance its ability to rationally utilize the international food market and international agricultural resources to ensure domestic food security.
format	article
author	Feng Zhao Pingping Sun Jie Zhang
author_facet	Feng Zhao Pingping Sun Jie Zhang
author_sort	Feng Zhao
title	Modeling the Grain Import Trade: A Cointegration Analysis of China’s Panel Data
title_short	Modeling the Grain Import Trade: A Cointegration Analysis of China’s Panel Data
title_full	Modeling the Grain Import Trade: A Cointegration Analysis of China’s Panel Data
title_fullStr	Modeling the Grain Import Trade: A Cointegration Analysis of China’s Panel Data
title_full_unstemmed	Modeling the Grain Import Trade: A Cointegration Analysis of China’s Panel Data
title_sort	modeling the grain import trade: a cointegration analysis of china’s panel data
publisher	Hindawi Limited
publishDate	2021
url	https://doaj.org/article/f087a1e549124444b439e0bfd343dd17
work_keys_str_mv	AT fengzhao modelingthegrainimporttradeacointegrationanalysisofchinaspaneldata AT pingpingsun modelingthegrainimporttradeacointegrationanalysisofchinaspaneldata AT jiezhang modelingthegrainimporttradeacointegrationanalysisofchinaspaneldata
_version_	1718443245162201088

Modeling the Grain Import Trade: A Cointegration Analysis of China’s Panel Data

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