The Journal of Fisheries Business Administration (수산경영론집)

The Korean Society of Fisheries Business Administration (한국수산경영학회)
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Analyzing Market Integration of Wild Caught Fish Species

자연산 어류의 시장 통합성 분석

  • Kim, Do-Hoon (Department of Marine Business and Economics, Pukyong National University)
  • 김도훈 (부경대학교 해양산업경영학과)
  • Received : 2013.05.04
  • Accepted : 2013.06.20
  • Published : 2013.06.30
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Abstract

This study is aimed to estimate market integration of wild caught fish species on the Korean market, using both multivariate and bivariate cointegration analysis. For the analysis of market integration between wild caught fish species, major four fish species those are most popular fish in the market and caught by the large purse seine fishery-chub mackerel, jack mackerel, hairtail and spanish mackerel-were selected as analytical target fish species. And their real monthly price data from January 2000 to December 2011 were used in the analysis. The results of the multivariate cointegration test for four wild caught fish species showed that there would be long-term equilibrium relationships among prices of four wild caught fish species, and consequently, the markets for wild caught fish species were estimated to be integrated. The results of exclusion test and bivariate cointegration test also supported that there would be a clear evidence to suggest that all target wild caught fish species were cointegrated each other.

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