international market in rice and wheat, 1868-1914

On the basis of high correlations between various price series, it is suggested that rice moved within an integrated international market between 1868 and 1914. Rice and wheat were substitutes; fluctuations in the price of one grain affected the price of the other. The rice market met the wheat mark...

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Veröffentlicht in:The Economic history review 1983-05, Vol.36 (2), p.260-280
Hauptverfasser: Latham, A.J.H, Neal, L
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Neal, L
description On the basis of high correlations between various price series, it is suggested that rice moved within an integrated international market between 1868 and 1914. Rice and wheat were substitutes; fluctuations in the price of one grain affected the price of the other. The rice market met the wheat market in India, the correlation between the prices of the two grains there being 0.91. Industrial demand in the west was partly dependent upon farm incomes determined by grain prices. In this way industrial demand was influenced by the price of rice in Asia.
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source Periodicals Index Online; EBSCOhost Business Source Complete; JSTOR Archive Collection A-Z Listing
subjects agribusiness
agricultural economics
agricultural history
Crop economics
distribution (economics)
Economic fluctuations
Grain trade
Grains
Imports
International trade
Market prices
marketing
Rice
Wheat
Wheat market
title international market in rice and wheat, 1868-1914
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