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The dynamic relationships between world and domestic prices of rice under the regime of agricultural trade liberalization in Bangladesh

Mohammad Jahangir Alam UGent, Jeroen Buysse UGent, Andrew M McKenzie, Ismat Ara Begum, Eric J Wailes and Guido Van Huylenbroeck UGent (2012) JOURNAL OF THE ASIA PACIFIC ECONOMY. 17(1). p.113-126
abstract
The article examines the dynamic relationship between the world and the domestic market price of rice for Bangladesh given agricultural trade liberalization. A Johansen multivariate cointegration test was used, followed by an error correction model. Results show that there exists a long-run unidirectional equilibrium relationship, meaning that the domestic prices adjust to the world prices but not vice versa. Our results highlight the dependence of the Bangladeshi rice market on the world rice market and underline the need for adequate policies which specifically address the issue of food security when world prices are very high. The goal of such policies should be to dampen or reduce domestic price volatility induced by the world market.
Please use this url to cite or link to this publication:
author
organization
year
type
journalArticle (original)
publication status
published
subject
keyword
COINTEGRATION, UNIT-ROOT, MARKET INTEGRATION, world market, Bangladeshi market, market integration, rice prices, REPRESENTATION
journal title
JOURNAL OF THE ASIA PACIFIC ECONOMY
J. Asia. Pac. Econ.
volume
17
issue
1
pages
113 - 126
Web of Science type
Article
Web of Science id
000302084800006
JCR category
ECONOMICS
JCR impact factor
0.159 (2012)
JCR rank
309/332 (2012)
JCR quartile
4 (2012)
ISSN
1354-7860
DOI
10.1080/13547860.2012.640010
project
Biotechnology for a sustainable economy (Bio-Economy)
language
English
UGent publication?
yes
classification
A1
copyright statement
I have transferred the copyright for this publication to the publisher
id
2097697
handle
http://hdl.handle.net/1854/LU-2097697
date created
2012-05-03 10:06:30
date last changed
2014-05-26 10:02:45
@article{2097697,
  abstract     = {The article examines the dynamic relationship between the world and the domestic market price of rice for Bangladesh given agricultural trade liberalization. A Johansen multivariate cointegration test was used, followed by an error correction model. Results show that there exists a long-run unidirectional equilibrium relationship, meaning that the domestic prices adjust to the world prices but not vice versa. Our results highlight the dependence of the Bangladeshi rice market on the world rice market and underline the need for adequate policies which specifically address the issue of food security when world prices are very high. The goal of such policies should be to dampen or reduce domestic price volatility induced by the world market.},
  author       = {Alam, Mohammad Jahangir and Buysse, Jeroen and McKenzie, Andrew M and Begum, Ismat Ara and Wailes, Eric J and Van Huylenbroeck, Guido},
  issn         = {1354-7860},
  journal      = {JOURNAL OF THE ASIA PACIFIC ECONOMY},
  keyword      = {COINTEGRATION,UNIT-ROOT,MARKET INTEGRATION,world market,Bangladeshi market,market integration,rice prices,REPRESENTATION},
  language     = {eng},
  number       = {1},
  pages        = {113--126},
  title        = {The dynamic relationships between world and domestic prices of rice under the regime of agricultural trade liberalization in Bangladesh},
  url          = {http://dx.doi.org/10.1080/13547860.2012.640010},
  volume       = {17},
  year         = {2012},
}

Chicago
Alam, Mohammad Jahangir, Jeroen Buysse, Andrew M McKenzie, Ismat Ara Begum, Eric J Wailes, and Guido Van Huylenbroeck. 2012. “The Dynamic Relationships Between World and Domestic Prices of Rice Under the Regime of Agricultural Trade Liberalization in Bangladesh.” Journal of the Asia Pacific Economy 17 (1): 113–126.
APA
Alam, M. J., Buysse, J., McKenzie, A. M., Begum, I. A., Wailes, E. J., & Van Huylenbroeck, G. (2012). The dynamic relationships between world and domestic prices of rice under the regime of agricultural trade liberalization in Bangladesh. JOURNAL OF THE ASIA PACIFIC ECONOMY, 17(1), 113–126.
Vancouver
1.
Alam MJ, Buysse J, McKenzie AM, Begum IA, Wailes EJ, Van Huylenbroeck G. The dynamic relationships between world and domestic prices of rice under the regime of agricultural trade liberalization in Bangladesh. JOURNAL OF THE ASIA PACIFIC ECONOMY. 2012;17(1):113–26.
MLA
Alam, Mohammad Jahangir, Jeroen Buysse, Andrew M McKenzie, et al. “The Dynamic Relationships Between World and Domestic Prices of Rice Under the Regime of Agricultural Trade Liberalization in Bangladesh.” JOURNAL OF THE ASIA PACIFIC ECONOMY 17.1 (2012): 113–126. Print.