| ID | 132779 |
| Title Proper | Co-movement between oil and agricultural commodity prices |
| Other Title Information | evidence from the emerging market of China |
| Language | ENG |
| Author | Fang, Chung-Rou ; Lee, Wen-Chieh ; Chang, Ching-Fu |
| Publication | 2014. |
| Summary / Abstract (Note) | Simultaneous rapid rise in both the world oil and agricultural commodity prices have increased interest in determining price transmission from oil prices to those of agricultural commodities. However, although a lot of the empirical research has studied the relation between oil price changes and economic activity, it is surprising that little research has been conducted on the relationship between oil price shocks and the large-size emerging industrial countries agricultural market. Therefore, the main goal of this study is that we are try to use the more detail and new China's weekly data which from 2004/9 to 2012/9 to fill this gap. This study examines the short and long-run interdependence between China fuel oil prices and the average of different kinds of key agricultural commodity prices in China. To this end, the Toda-Yamamoto causality approach and impulse response analysis method are applied to identification of the long and short-run interrelationships. In contrast to lots of the traditional causality analysis indicates that the oil prices and the agricultural commodity prices do not influence each other, our result is mix: we have inferred that the fluctuation of fuel oil price has a short-run effect on the dynamics of agricultural products in China; however, there are no significant in the long-run effects. |
| `In' analytical Note | Issues and Studies Vol.50, No.2; June 2014: p.111-141 |
| Journal Source | Issues and Studies Vol.50, No.2; June 2014: p.111-141 |
| Key Words | China ; Oil Commodity ; Agricultural Commodity ; Cost Theory ; Emerging Market ; Emerging Economy ; Chinese Economy ; Economic Growth ; Influence ; Energy Policy ; Agricultural Policy ; Energy Market ; Agricultural Market ; Industrial Growth ; Granger Causality |