Call Prefix : PR-T

Call Suffix : 2006

Call Cutter : D - AgEc 32

Location : SEARCA Library

Format : TD

Publisher : University of the Philippines Los Banos,

Publication Date : December 2006

Publication Place : Philippines :

Summary : in Vietnam. The dynamic relationship of rice export prices in Vietnam and Thailand was analyzed and the impact of rice trade policies on the integration of the domestic rice market and in the export market was assessed. Monthly retail rice prices covering the period 1986 - 2005 were gathered from Vietnam's General Statistics Office and the Price-Market Research Institute; weekly rice export prices of Vietnam and Thailand were obtained from Vietnam's Ministry of Trade and the United States Department of Agriculture. The Johansen cointegration and various tests in the cointegrated system and the method of estimating common long-memory components were applied. The results showed a narrow extent of market integration in the domestic rice market. however, prices were transmitted well among the integrated rice markets, indicated by the LAw of One Price (LOP) being upheld. The integrating factor showed that the supply side was the most important in shaping the long-run behavior of rice prices in Vietnam. No single market was found to be the price leader in the long run. The rice export prices of Vietnam and Thailand were found to be cointegarted and these conformed with the LOP, but Vietnam was less active compared with Thailand in responding to changes in world rice price. While domestic reforms and rice trade policies had positive impacts on the integration of domestic rice markets, the removal of export quota played insignificant role in determining the relationship of rice prices in Vietnam and Thailand.