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This paper conducts empirical analysis on exchange rate pass-through to import and export prices in China with monthly data from 1999 to 2008, and finds that exchange rate pass-through is higher to export prices than to import prices. The analysis shows that the difference in the pass-through of exchange rate to import and export prices arises from the difference in industrial margin, international...
The study of commodity price behaviour has attracts the attention of many economists and finance specialists. This is due to the fact that many less developed countries rely on the revenues generated by the commodity exports. In this paper, the nonlinear relationship because of regime shifts in four vegetable oil price series was investigated. The multivariate Markov switching vector autoregressive...
This paper uses data of international wheat trade in 2009, which cover 76 countries and 183 trade relationships, to evaluate the bargaining power of both export and import countries from the perspective of social network. The countries' positions in the international wheat trade network and their bargaining power are examined through the analyses of their Freeman degree centralities, Bonacich powers,...
International crude oil prices volatility has significant effects on global economic activities. On the basis of WTI crude oil futures price of New York Mercantile Exchange (NYMEX) from Apr 1983 to Aug 2008, this paper analyze the multifractal spectrum of crude oil futures prices. The results show that the crude oil prices have multifractal characteristics; international oil futures market has the...
USA is a country seriously relied on petroleum energy. Several historical petroleum crises had caused huge negative influence, more or less, to USA economy, these urged USA government to establish a comprehensive petroleum crisis coping mechanism International petroleum price fluctuated dramatically, especially, international petroleum price fluctuation range in whole year of 2008 exceeded those of...
International crude oil prices are very complex nonlinear time series, which are not only affected by the domination of objective economic laws, but also by politics and pricing system. Therefore it is difficult to establish an effective prediction model based on the general time series analysis. So we need to understand the effects of international natural gas prices on crude oil prices to get more...
Recently, electronic business has grown more vigorously in our international trade field; different kinds of electronic business emerge in an endless stream, especially the electronic business web site for forestry products. However, with the specificity of forestry product and its trade, the electronic business of forestry products has not promoted nowadays. Firstly, this article introduced the connotation...
With the implementation of open policy in China, the international trade of steel industry is highly increased between China and the global market. The exchange rate is playing a more important role in the pricing of Chinese steel industry. We aim to find out the influence of exchange rate to the pricing of China steel product. There could be different influences of exchange rates between U.S. and...
To a large extent, developing economies often rely upon agricultural exports in their economic development. The international trade of such products is heavily influenced by price and quality. The value and competitiveness of such products in the global market is also influenced by various value-added activities. As the nodal point along the supply chain, it is hypothesized that dry ports play significant...
Hunan is a major agricultural province in China. This paper analyses the international competitiveness of Hunan agriculture from three levels. Firstly, we evaluate its competitiveness in achievement by using indexes of MS, RCA and TC, and find Hunan agriculture has certain advantage, but it shows a downward tendency. Next, Hunan agricultural competitiveness in strength is analyzed from price and quality,...
Grey prediction method is characterized by small amount data, simple calculation and accurate prediction. On the basis of WTI crude oil futures monthly price of New York Mercantile Exchange (NYMEX) from June 2008 to Feb 2009, this paper gives a grey prediction model of intentional crude oil prices. The results show that the model of GM (1,1) is suitable for crude oil prices forecast. It predicts that...
Understanding of market efficiency is the cornerstone of market analysis. Oil market efficiency test can not only provide the theoretical foundation for oil price forecast but offer evidence of comparing the information efficiency of different markets. The generalized spectrum method is applied on the daily data from January 2001 to July 2008 to test the weak form efficiency of main crude oil markets...
To study the relationship of the international crude oil spot price and U.S. dollar, we carried on root test and cointegration test on the weekly data of international crude oil spot price and U.S. dollar index from 2002 to 2008, and the results show that there exists equilibrium relationship of long-term negative correlation between international crude oil spot price change and the U.S. dollar index;...
International oil market is presented as a complex system with non-linear characteristics, in which oil price is affected by a set of different factors. In order to test if the international oil price chaotic or not, the phase space reconstruction technique (PSRT) is used to reorder the time series, and the methods of improved G-P algorithm, non-bias autocorrelation, Wolf algorithm and correlation...
Integration of regulating power markets of different balancing regions has a potential to reduce the costs of balancing within multinational power markets by exchange of regulating power between these regions. Currently, most regulating power markets are operating on a national level so that exchange of regulating power between regions is minimal. This paper investigates the potentials for reduction...
International crude oil prices are very complex nonlinear time series, which are not only affected by the domination of objective economic laws, but also by politics and other factors. Therefore it is difficult to establish an effective prediction model based on the general time series analysis. In this paper, based on wavelet transform, the international oil prices time series is decomposed into...
In order to reveal the stylized facts of world crude oil prices, R/S (Rescaled Range Analysis) method is introduced in this paper. For illustration, WTI (West Texas Intermediate) and Brent daily crude oil prices are used in this paper. The calculated results show that both Hurst exponents (H) are larger than 0.5 and both memory terms are 12 days coincident. The results tell that these two oil prices...
Price stabilization mechanism adopted for agricultural product is important policy for reasonable food supply under free agricultural trade. A generally used quantity supply control scheme associated with free imports of Taiwan broiler industry is considered in this study. It is argued that efficient quantity control will provide floor price support while at the same time free imports will create...
With the accelerating of economic globalization, the effect of foreign factors on Chinese tangerines export is more and more obvious, which is mainly expressed as the fluctuation of Chinese tangerines export price. The article uses SVAR, impulse response analysis and variance decomposition to analyze the interaction between Chinese export price and world import price of tangerines from 1961 to 2007...
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