A Comparison of Market Integration in Nineteenth-Century China and Japan
This paper performs a cointegration analysis using an Error Correction Model (ECM) on annual rice prices to measure and compare market integration in China and Japan during the nineteenth century. We find markets in Japan were more integrated than in China at both the regional and national levels du...
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| Veröffentlicht in: | Australian economic history review 2016-11, Vol.56 (3), p.246-271 |
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| container_title | Australian economic history review |
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| creator | Yao, Ke Zheng, Xiao-Ping |
| description | This paper performs a cointegration analysis using an Error Correction Model (ECM) on annual rice prices to measure and compare market integration in China and Japan during the nineteenth century. We find markets in Japan were more integrated than in China at both the regional and national levels during the period. Moreover, market integration in Japan improved during industrialisation. These findings support the view that a well‐integrated market is a cause as well as a result of economic growth. |
| doi_str_mv | 10.1111/aehr.12109 |
| format | Article |
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| ispartof | Australian economic history review, 2016-11, Vol.56 (3), p.246-271 |
| issn | 0004-8992 1467-8446 2832-157X |
| language | eng |
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| source | Access via Wiley Online Library; EBSCOhost Business Source Complete |
| subjects | China Cointegration analysis Commodity prices ECM Economic conditions Economic growth Economic history Japan market integration Rice rice price Studies |
| title | A Comparison of Market Integration in Nineteenth-Century China and Japan |
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