Taiwan Flowers Wholesale Market Price Relationship- Cases for Chrysanthemum, Flamingo, Rose and Lily
Date Issued
2012
Date
2012
Author(s)
MIAO, CHENG-MEI
Abstract
This article aims to study the price integration of four flowers (Chrysanthemum、Flamingo、Rose and Lily) in Taiwan’s five major flower wholesale market (Taipei、Taichung、Zhanghua、Tainan and Gaoxiong) through using the ten daily average auction price data from September 2003 to June 2011, total sample size of 5640.A cointegration test is used to examine the relationships of transaction prices, and the vector autoregression model (VAR) and Granger causality test are the means of analysis. Dummy variable is used to verify the holiday effect on flower prices.
The major finding is as follows: The Revallion market integration theory prevents the prices from coming to the same level in the five flower wholesale markets. The flower price relationship in the five wholesale market is mostly driven by the place of origin for the flowers. For instance, even though the Taipei flower market is the major consumption market in Taiwan, consumption does not determine the market price. Instead the production quantity and quality in Zhanghua – the place of production for the flowers – determines the price. However, different holidays cause different flower price movements in the five flower wholesale market.
Subjects
cut flower
flower price
market integration
Granger
holiday effect
Type
thesis
File(s)![Thumbnail Image]()
Loading...
Name
ntu-101-P97323017-1.pdf
Size
23.54 KB
Format
Adobe PDF
Checksum
(MD5):3769153a20b2c8dbb6b9b0a12d0316df