Ocean and Polar Research

Korea Institute of Ocean Science & Technology (한국해양과학기술원)
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Market Interactions for Farmed Fish Species on the Korean Market

  • Kim, Do-Hoon (Department of Marine Business and Economics, College of Fisheries Sciences, Pukyong National University)
  • Received : 2013.12.03
  • Accepted : 2014.02.23
  • Published : 2014.03.30
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Abstract

This study aims to analyze the market interactions among the main farmed fish species in Korea, using both multivariate and bivariate cointegration analysis. For the analysis of market interactions among farmed fish species, major four farmed fish species, olive flounder (Paralichthys olivaceus), black rockfish (Sebastes schlegeli), red seabream (Pagrus major), and grey mullet (Mugil cephalus) were selected as the analytical target species. And their real price data by month from January 2000 to December 2011 were used in the analysis. The results of the multivariate cointegration test for four farmed fish showed that there would be no long-term equilibrium relationships among farmed fish species, and consequently they do not share the same market. The results of bivariate cointegration test indicated that there was little evidence to suggest that all farmed fish species were cointegrated each other. However, it was only analyzed that olive flounder and grey mullet might have a long run equilibrium relationship.

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Cited by

  1. Analyzing Price Interactions between Wild Caught Fish and Farmed Fish on the Korean Seafood Market vol.27, pp.6, 2015, https://doi.org/10.13000/JFMSE.2015.27.6.1610
  2. Testing for substitutability in the mackerel market: a new method using fractional cointegration vol.49, pp.39, 2017, https://doi.org/10.1080/00036846.2016.1273490