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http://dx.doi.org/10.12653/jecd.2017.24.1.009

An Dynamic Analysis on the Relationship among Prices, Trading Volumes, Import Volumes and Demand Using VAR - Focused on Cabbage, Onions, and Garlic -  

Nam, Kuk-Hyun (Department of Economics, Pusan National University)
Choe, Young-Chan (Program in Regional Information, Department of Agricultural Economics and Rural Development, Seoul National University)
Publication Information
Journal of Agricultural Extension & Community Development / v.24, no.1, 2017 , pp. 9-19 More about this Journal
Abstract
This paper analyses the interrelationship among wholesale price, trading volumes, import volumes and demand for three agricultural products (cabbage, onions, and garlic) by using the consumer panel and the data from the Korea Rural Economic Institute and the Korea Customs Service with a VAR model. The results are summarized as below. (1) The prices of three agricultural products decrease when trading volumes increase while the price of cabbage and onions decreases when import volumes increase. But the prices of three agricultural products have little effects on trading volumes. (2) The demand of three agricultural products increases when trading volumes increase while the demand of cabbage and onions increases when import volumes increase. (3) when demand of garlic and cabbage increases by 10%, their price increases by 2.5% and 1.3% respectively. And the demand of garlic has positive effects on import volumes of garlic.
Keywords
wholesale price; trading volume; import volume; demand; VAR;
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Times Cited By KSCI : 4  (Citation Analysis)
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