DOI QR코드

DOI QR Code

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)
  • 투고 : 2013.12.03
  • 심사 : 2014.02.23
  • 발행 : 2014.03.30

초록

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.

키워드

참고문헌

  1. Asche F, Bjorndal T, Young J (2001) Market interactions for aquaculture products. Aqua Econ Mgmt 5:303-317 https://doi.org/10.1080/13657300109380296
  2. Asche F, Bremnes H, Wessells C (1999) Product aggregation, market integration and relationships between prices: An application to world salmon markets. Am J Agr Econ 81:568-581 https://doi.org/10.2307/1244016
  3. Asche F, Guttormsen A, Sebulonsen T, Sissener E (2005) Competition between farmed and wild salmon: the Japanese salmon market. Agr Econ 33:333-340 https://doi.org/10.1111/j.1574-0864.2005.00072.x
  4. Asche F, Salvanes K, Steen F (1997) Market delineation and demand structure. Am J Agr Econ 79:139-150 https://doi.org/10.2307/1243949
  5. Bose S, McIlgorm A (1996) Substitutability among species in the Japanese tuna market: A cointetration analysis. Mar Res Econ 11:143-155 https://doi.org/10.1086/mre.11.3.42629157
  6. Choi J (2012) A study on the development of aquaculture in Korea. National Federation of Fisheries Cooperatives
  7. Goodwin B, Schroeder T (1991) Cointegration and spatial price linkages in regional cattle markets. Am J Agr Econ 73:452-464 https://doi.org/10.2307/1242730
  8. Gordon D, Salvanes K, Atkins F (1993) A fish is a fish is a fish? Testing for market linkages on the Paris fish market. Mar Res Econ 8:331-343 https://doi.org/10.1086/mre.8.4.42731365
  9. Gujarati D, Porter D (2008) Basic Economerics. 5th edition. McGraw-Hill, New York, 944 p
  10. Jeffry S, Pascoe S, Taylor G, Zabala U (2000) Price interactions between salmon and wild caught fish species on the Spanish market. Aqua Econ Mgmt 4:157-167 https://doi.org/10.1080/13657300009380267
  11. Johansen S (1991) Estimation and hypothesis testing of cointegration vectors in Gaussian autoregressive models. Econometrica 59:1551-1580 https://doi.org/10.2307/2938278
  12. Johansen S (1991) Statistical analysis of cointegration vectors. J Econ Dyn Con 12:231-254
  13. MIFAFF (2011) Fisheries and Aquaculture Statistics. Ministry of Food, Agriculture, Forestry and Fisheries
  14. Park S, Davidson K, Pan M (2012) Economic relationships between aquaculture and capture fisheries in the republic of Korea. Aqua Econ Mgmt 16:102-116 https://doi.org/10.1080/13657305.2012.678558
  15. Rodriguez G, Bande R, Villasante S (2013) Market integration between cultured and wild gilthead sea bream in the Spanish seafood market. Aqua Econ Mgmt 17:380-397 https://doi.org/10.1080/13657305.2013.825932
  16. Stigler G (1969) The theory of price. Macmillan Company, London, 371 p

피인용 문헌

  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