Determinants of the competitiveness of world palm oil exports: A cointegration analysis

IF 1.6 Q3 BUSINESS Transnational Corporations Review Pub Date : 2024-04-13 DOI:10.1016/j.tncr.2024.200063

Elkyn Lugo-Arias , José Lugo-Arias , Sandra Bibiana Vargas , Mario Alberto de la Puente Pacheco , Ivonn Borre Granados , Carlos Barraza Heras , Daniel Triana Hernández

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Abstract

The purpose of this research is to determine the impact of international palm oil prices, prices of its substitute and complementary goods, and the exchange rate on the competitiveness of 30 palm oil exporting countries over the period from 2011 to 2019, using monthly data. The symmetric comparative advantage index was estimated, and a convergence effect was found, whereby emerging countries exhibited greater specialization than industrialized countries. Unit root and cointegration tests were applied, in addition to FMOLS and DOLS methods. The analysis revealed that decreases in palm and vegetable oil prices, coupled with an increase in the exchange rate and prices of soybeans and biodiesel, enhanced the competitiveness of palm oil exports.

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世界棕榈油出口竞争力的决定因素：协整分析

本研究旨在利用月度数据，确定 2011 年至 2019 年期间国际棕榈油价格、其替代品和互补品价格以及汇率对 30 个棕榈油出口国竞争力的影响。估计了对称比较优势指数，发现了趋同效应，即新兴国家比工业化国家表现出更高的专业化程度。除了 FMOLS 和 DOLS 方法外，还应用了单位根和协整检验。分析表明，棕榈油和植物油价格下降，加上汇率以及大豆和生物柴油价格上涨，增强了棕榈油出口的竞争力。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Transnational Corporations Review BUSINESS-

CiteScore

5.20

自引率

5.70%

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