This paper applies both the Engle-Granger and Johansen cointegration test procedures
to determine the existence of market linkage among high-valued ( Scomberomorus
commerson, milkfish ) and low-valued (cod, Taiwan Tilapia ) fish species using
monthly average wholesale price data recorded on the Taipei fisheries wholesale
market. If the markets for high-valued and low-valued species are linked, say through
commodities arbitrage, individual fish prices cannot diverge ¡§too far¡¨ from other fish
prices before market forces to operate to restore equilibrium. From the empirical
results, it indicates the existence of only one cointegrating vector involving the prices
of these species in Taipei fisheries wholesale market, and that a long-run and stable
substitute relationship may exist for the Scomberomorus commerson and other
low-valued and high-valued species.
| Identifer | oai:union.ndltd.org:NSYSU/oai:NSYSU:etd-0723111-024920 |
| Date | 23 July 2011 |
| Creators | Liu, Shiuan-Ming |
| Contributors | Shan-non Chin, Bing-cheng Li, Chun-Chieh Wang, Chun-sheng Lin |
| Publisher | NSYSU |
| Source Sets | NSYSU Electronic Thesis and Dissertation Archive |
| Language | Cholon |
| Detected Language | English |
| Type | text |
| Format | application/pdf |
| Source | http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0723111-024920 |
| Rights | not_available, Copyright information available at source archive |
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