Integration of Major Agricultural Product Markets of China
China's accession to the World Trade Organisation (WTO) raises two key questions. One is whether China's local markets are integrated and the other is whether China's markets can coordinate with world markets. This paper uses 3-step methods to answer the above questions. In the study, co-integration analysis is applied to test market integration, Granger-causality test is used to analyse the direction of price spread between markets, and IMC (Index of Market Connection) method is employed to...[Show more]
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