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The Determinants of Aquatic Products Retail Price Fluctuations in China 1978-2000

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  • An empirical model of aquatic product price fluctuations in China has been built using a time series of urban residential and rural panel data, and estimated through cointegration and an error correction model. In the long-run cointegration equation based on urban consumption behaviour, movements in income, average consumption and farmer prices were found to have a signficant impact on aquatic product retail price. In the long-run cointegration equation based on rural consumption behaviour, movements in transitory income, average consumption, rural population and farmer price were significant. The estimate of the dynamic equation reveals a rich autoregressive structure in aquatic product retail prices. In the short-run error-correction equation, movements in income, and average consumption were not found to have a significant impact on aquatic product retail prices based rural and urban consumption behaviour and movements in rural population based on rural consumption behaviour. So the result shows that the consumption of aquatic products had been the logjam. The elasticities of error-correction suggest that adjustment toward the long-run relationship is slow.
  • Keywords: retail price, consumption behaviour, Fisheries Economics, aquatic products, error correction model (ECM), China, cointegration, Demand and Supply
  • Keywords: retail price, consumption behaviour, Fisheries Economics, aquatic products, error correction model (ECM), China, cointegration, Demand and Supply
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  • Zhang, Xiaoshuan, Brian J. Revell, Fu Zetian. 2004. The Determinants of Aquatic Products Retail Price Fluctuations in China 1978-2000. Peer Review: No. In: Proceedings of the Twelfth Biennial Conference of the International Institute of Fisheries Economics & Trade, July 20-30, 2004, Tokyo, Japan: What are Responsible Fisheries? Compiled by Ann L. Shriver. International Institute of Fisheries Economics & Trade, Corvallis, Oregon, USA, 2004. CD ROM. ISBN 0-9763432-0-7
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