This paper presents liquidity measures in high resolution and investigates the impact of trading volume on market liquidity and prices in China's soybean complex markets. We document a U-shaped distribution of volume and spreads over the course of a trading day. Quantile regression results show that trading volume tends to tighten bid-ask spreads but widen spreads in the lower tail. We further find that the impact of trading volume on prices is significantly more pronounced during the opening hours, possibly indicating a higher prevalence of informed trading. Additionally, smaller-sized transactions have a disproportionately larger impact on prices compared to large-sized orders, a possible indication that stealth trading, that is, shaving large orders into smaller slices to conceal private information, presents in China's soybean complex.
本文提出了高分辨率的流动性指标，并研究了交易量对中国大豆综合市场流动性和价格的影响。我们记录了一个交易日内交易量和价差的 U 型分布。量子回归结果表明，交易量往往会收窄买卖价差，但在尾部会扩大价差。我们进一步发现，交易量对价格的影响在开盘时段更为明显，这可能表明知情交易更为普遍。此外，与大额订单相比，小规模交易对价格的影响更大，这可能表明中国大豆市场存在隐形交易，即把大额订单切成小块以掩盖私人信息。
{"title":"Examining the impact of trading volume on liquidity and prices in China's soybean complex","authors":"Yuanyuan Xu, Jian Li, Linjie Wang, Xiaoli Etienne","doi":"10.1002/agr.21887","DOIUrl":"https://doi.org/10.1002/agr.21887","url":null,"abstract":"This paper presents liquidity measures in high resolution and investigates the impact of trading volume on market liquidity and prices in China's soybean complex markets. We document a U-shaped distribution of volume and spreads over the course of a trading day. Quantile regression results show that trading volume tends to tighten bid-ask spreads but widen spreads in the lower tail. We further find that the impact of trading volume on prices is significantly more pronounced during the opening hours, possibly indicating a higher prevalence of informed trading. Additionally, smaller-sized transactions have a disproportionately larger impact on prices compared to large-sized orders, a possible indication that stealth trading, that is, shaving large orders into smaller slices to conceal private information, presents in China's soybean complex.","PeriodicalId":55544,"journal":{"name":"Agribusiness","volume":"25 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2023-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139065710","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Formal credit plays an important role for the development of the agriculture sector in developing countries because many farmers are characterized as liquidity constrained. Access to credit can increase farmers' purchasing power for inputs and agricultural technology, thus raising the overall productivity. Farmers in Mali are particularly vulnerable to shocks, such as heavy precipitation events. Access to liquidity to increase the resilience of the agricultural sector is essential. Therefore, higher financing volumes are required, which make the analysis of loan demand in agriculture of interest. The purpose of this paper is to empirically investigate the role of the interest rate, the macroeconomic environment, the agricultural cycle and the gender of the farmer on the loan demand in the agricultural sector from a country in the Sahel. Unique and comprehensive loan data at the farm level, provided by a commercial Malian bank, is used for this analysis. The analysis covers the period from 2010 to 2020. Two different estimation strategies are combined. First, an ordinary least square regression is applied with the granted loan amount as the dependent variable. Second, the machine learning technique, least absolute shrinkage and selection operator, is applied to select the most relevant features to be used as explanatory variables in the estimation. The results reveal that the interest rate, the gross value added, the farmer's gender as well as the agricultural cycle have statistically significant effects on the granted loan demand in agriculture. These results are of interest to policymakers, who deal with financial inclusion as well as market failures, and agricultural financial institutions who could incorporate such information in the design of future loan products to stimulate farmers' loan demand, especially for female farmers. [EconLit Citations: G20, G21, O13, O16, Q14, Q18].
{"title":"Exploring the role of interest rates, macroeconomic environment, agricultural cycle, and gender on loan demand in the agricultural sector: Evidence from Mali","authors":"Tim Ölkers, Oliver Mußhoff","doi":"10.1002/agr.21891","DOIUrl":"10.1002/agr.21891","url":null,"abstract":"<p>Formal credit plays an important role for the development of the agriculture sector in developing countries because many farmers are characterized as liquidity constrained. Access to credit can increase farmers' purchasing power for inputs and agricultural technology, thus raising the overall productivity. Farmers in Mali are particularly vulnerable to shocks, such as heavy precipitation events. Access to liquidity to increase the resilience of the agricultural sector is essential. Therefore, higher financing volumes are required, which make the analysis of loan demand in agriculture of interest. The purpose of this paper is to empirically investigate the role of the interest rate, the macroeconomic environment, the agricultural cycle and the gender of the farmer on the loan demand in the agricultural sector from a country in the Sahel. Unique and comprehensive loan data at the farm level, provided by a commercial Malian bank, is used for this analysis. The analysis covers the period from 2010 to 2020. Two different estimation strategies are combined. First, an ordinary least square regression is applied with the granted loan amount as the dependent variable. Second, the machine learning technique, least absolute shrinkage and selection operator, is applied to select the most relevant features to be used as explanatory variables in the estimation. The results reveal that the interest rate, the gross value added, the farmer's gender as well as the agricultural cycle have statistically significant effects on the granted loan demand in agriculture. These results are of interest to policymakers, who deal with financial inclusion as well as market failures, and agricultural financial institutions who could incorporate such information in the design of future loan products to stimulate farmers' loan demand, especially for female farmers. [EconLit Citations: G20, G21, O13, O16, Q14, Q18].</p>","PeriodicalId":55544,"journal":{"name":"Agribusiness","volume":"40 2","pages":"484-512"},"PeriodicalIF":3.2,"publicationDate":"2023-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/agr.21891","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139072298","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper investigates the impact of the 2022 Mississippi River drought on agricultural trade using counterfactual evaluation methods and detailed trade data at the US port level. The study examines how the drought disrupted agricultural shipments out of Louisiana ports and whether the disruption led to trade diversion to other ports. Our findings reveal that shipments out of Louisiana ports were 3.9% or $560 million below the counterfactual between July 2022 and January 2023. In addition, the dynamic treatment estimates provide evidence of immediate trade recovery after the drought receded in October 2022, indicating that the impact of the drought was short-lived. Wheat exports were the most affected, experiencing a reduction in shipments from Louisiana ports of $150 million and being diverted to US ports on the West Coast. In contrast, corn and soybeans did not experience lasting trade destruction or diversion to other ports. Our analysis also reveals that export prices increased significantly above the counterfactual level at Louisiana ports, suggesting that the drought impacted the supply and export dynamics of agricultural commodities. In conclusion, this paper provides valuable insights into the short-run implications of natural disasters on agricultural trade. [EconLit Citations: F14, Q17].
{"title":"US agricultural exports and the 2022 Mississippi River drought","authors":"Sandro Steinbach, Xiting Zhuang","doi":"10.1002/agr.21880","DOIUrl":"https://doi.org/10.1002/agr.21880","url":null,"abstract":"This paper investigates the impact of the 2022 Mississippi River drought on agricultural trade using counterfactual evaluation methods and detailed trade data at the US port level. The study examines how the drought disrupted agricultural shipments out of Louisiana ports and whether the disruption led to trade diversion to other ports. Our findings reveal that shipments out of Louisiana ports were 3.9% or $560 million below the counterfactual between July 2022 and January 2023. In addition, the dynamic treatment estimates provide evidence of immediate trade recovery after the drought receded in October 2022, indicating that the impact of the drought was short-lived. Wheat exports were the most affected, experiencing a reduction in shipments from Louisiana ports of $150 million and being diverted to US ports on the West Coast. In contrast, corn and soybeans did not experience lasting trade destruction or diversion to other ports. Our analysis also reveals that export prices increased significantly above the counterfactual level at Louisiana ports, suggesting that the drought impacted the supply and export dynamics of agricultural commodities. In conclusion, this paper provides valuable insights into the short-run implications of natural disasters on agricultural trade. [EconLit Citations: F14, Q17].","PeriodicalId":55544,"journal":{"name":"Agribusiness","volume":"38 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2023-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139065540","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
There exists a potential gap between individual intention to purchase eco-products and their actual purchase behaviors, which contributes to low eco-friendly consumption. The study investigates the intention-behavior gap in eco-friendly food consumption, and how consumer trust affects the gap. We focus on consumer trust in eco-friendly food regulator, manufacturer, certifier, and farmer. Evidence from Chinese consumers reveals that individuals with low trust in the certifier have high intention to purchase green food but fail to make actual purchases. Trust in the manufacturer is positively associated with actual purchases of organic food regardless of intention. We also find that trust exerts the greater impact in bridging the intention-behavior gap among female, younger, more educated, and more environmentally conscious consumers. Our findings highlight the importance of consumer trust in the certifier and manufacturer. Implications for promoting eco-friendly food consumption are discussed.
{"title":"Could trust narrow the intention-behavior gap in eco-friendly food consumption? Evidence from China","authors":"Rao Yuan, Shaosheng Jin, Wen Lin","doi":"10.1002/agr.21886","DOIUrl":"https://doi.org/10.1002/agr.21886","url":null,"abstract":"There exists a potential gap between individual intention to purchase eco-products and their actual purchase behaviors, which contributes to low eco-friendly consumption. The study investigates the intention-behavior gap in eco-friendly food consumption, and how consumer trust affects the gap. We focus on consumer trust in eco-friendly food regulator, manufacturer, certifier, and farmer. Evidence from Chinese consumers reveals that individuals with low trust in the certifier have high intention to purchase green food but fail to make actual purchases. Trust in the manufacturer is positively associated with actual purchases of organic food regardless of intention. We also find that trust exerts the greater impact in bridging the intention-behavior gap among female, younger, more educated, and more environmentally conscious consumers. Our findings highlight the importance of consumer trust in the certifier and manufacturer. Implications for promoting eco-friendly food consumption are discussed.","PeriodicalId":55544,"journal":{"name":"Agribusiness","volume":"71 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2023-12-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139053639","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The development of social e-commerce can integrate the production, circulation, and sales of agricultural products; realize the digitalization of the agricultural production process; and promote farmers' savings and profits. On the basis of the stimulus–organism–response theory and the embedding theories, microsurvey data of 302 farmers regarding the winter jujube production area of the Dali facility in the Shaanxi Province were used to empirically test the impact of neighborhood effect (NE) and virtual social networks on farmers' participation in social e-commerce, and the interaction effect of the two aspects. Additionally, we analyzed its mechanism under the framework of “social networks-farmers' cognition-social e-commerce participation behavior (SEPB).” The research results are as follows. First, neighborhood participation, social software friends, and information release have a significant positive impact on farmers' SEPB, whereas information reception has a negative impact. Second, the empirical results considering the comprehensive effects of various variables show that NE, network communication, and network participation (NP) can all promote farmers' participation in social e-commerce, and NP is complementary to NE. Third, mechanism analysis shows that NE and NP produce partial mediating effect and complete mediating effect, respectively, through self-competence recognition (SR), which in turn positively impacts the SEPB. In the heterogeneity analysis, for farmers with a plantation area of less than or equal to 0.447 ha, SR has a partial mediating effect on the process of NE affecting SEPB, whereas the motivating factor is NP. In terms of labor force structure, only the percentage of nonagricultural workers exceeds 0.253, NE and NP affect SEPB through SR. This study can provide a reference for farmers to rationally use their social networks, and guide the formulation of social e-commerce support policies at the national level.
{"title":"Neighborhood effect, virtual social networks, and farmers' social e-commerce participation behavior","authors":"Chan Wang, Xiao Wu, Tinggui Chen","doi":"10.1002/agr.21885","DOIUrl":"https://doi.org/10.1002/agr.21885","url":null,"abstract":"The development of social e-commerce can integrate the production, circulation, and sales of agricultural products; realize the digitalization of the agricultural production process; and promote farmers' savings and profits. On the basis of the stimulus–organism–response theory and the embedding theories, microsurvey data of 302 farmers regarding the winter jujube production area of the Dali facility in the Shaanxi Province were used to empirically test the impact of neighborhood effect (NE) and virtual social networks on farmers' participation in social e-commerce, and the interaction effect of the two aspects. Additionally, we analyzed its mechanism under the framework of “social networks-farmers' cognition-social e-commerce participation behavior (SEPB).” The research results are as follows. First, neighborhood participation, social software friends, and information release have a significant positive impact on farmers' SEPB, whereas information reception has a negative impact. Second, the empirical results considering the comprehensive effects of various variables show that NE, network communication, and network participation (NP) can all promote farmers' participation in social e-commerce, and NP is complementary to NE. Third, mechanism analysis shows that NE and NP produce partial mediating effect and complete mediating effect, respectively, through self-competence recognition (SR), which in turn positively impacts the SEPB. In the heterogeneity analysis, for farmers with a plantation area of less than or equal to 0.447 ha, SR has a partial mediating effect on the process of NE affecting SEPB, whereas the motivating factor is NP. In terms of labor force structure, only the percentage of nonagricultural workers exceeds 0.253, NE and NP affect SEPB through SR. This study can provide a reference for farmers to rationally use their social networks, and guide the formulation of social e-commerce support policies at the national level.","PeriodicalId":55544,"journal":{"name":"Agribusiness","volume":"6 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2023-12-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139028129","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Nusrat Akber, Kirtti Ranjan Paltasingh, Ashok K. Mishra
This study examines the impact of farm households' decision to adopt crop insurance and its effect on food security. Using the National Sample Survey Office's 77th round of data (2019–2020) from Indian farming households, the endogenous switching regression results confirm that insuring crops against production risks increases food security (as measured by higher consumption expenditures and net farm income). Specifically, findings show that farming households would decrease consumption expenditures by 15% and net farm income by 26% if they had not adopted crop insurance. Similarly, the noninsured families would have 23% higher consumption expenditures and 31% higher net farm income if they had insured crops. However, we find heterogeneity in welfare impacts because large farmers reap more benefits than smallholders. Policy implications from this study call for increased awareness of insurance programs, educating farmers about crop insurance schemes, and an effective institutional framework to reduce heterogeneity in insurance benefits. [EconLit Citations: Q13, Q18, O53].
{"title":"Does crop insurance ensure food security for Indian farmers? Evidence from a nationally representative survey","authors":"Nusrat Akber, Kirtti Ranjan Paltasingh, Ashok K. Mishra","doi":"10.1002/agr.21884","DOIUrl":"https://doi.org/10.1002/agr.21884","url":null,"abstract":"This study examines the impact of farm households' decision to adopt crop insurance and its effect on food security. Using the National Sample Survey Office's 77th round of data (2019–2020) from Indian farming households, the endogenous switching regression results confirm that insuring crops against production risks increases food security (as measured by higher consumption expenditures and net farm income). Specifically, findings show that farming households would decrease consumption expenditures by 15% and net farm income by 26% if they had not adopted crop insurance. Similarly, the noninsured families would have 23% higher consumption expenditures and 31% higher net farm income if they had insured crops. However, we find heterogeneity in welfare impacts because large farmers reap more benefits than smallholders. Policy implications from this study call for increased awareness of insurance programs, educating farmers about crop insurance schemes, and an effective institutional framework to reduce heterogeneity in insurance benefits. [EconLit Citations: Q13, Q18, O53].","PeriodicalId":55544,"journal":{"name":"Agribusiness","volume":"32 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2023-12-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138825469","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Tatevik Avetisyan Artoonian, R. Brent Ross, Robert S. Shupp
The supply chain risk management literature highlights the importance of ex-ante identification and assessment of risks to ensure continuity of firms, in particular, and the high performance of supply chains in which they operate, in general. Supply chain disruptions are harmful and costly for firms. The risk of such disruptions can be particularly consequential for firms in emerging industries that lack resources and for which dominant organizational and supply chain designs do not yet exist. Within local and regional food supply chains, food hubs are nascent enterprises coordinating these supply chains. Building off the existing supply chain risk management literature, this study identifies and assesses the perceived supply chain risks faced by U.S. food hubs. The study employs an exploratory sequential mixed methods research design and the Failure Mode and Effect Analysis methodology for this purpose. The results show risks related to imbalances in food supply and demand, logistical delays, human resources, and infrastructure capacity limitations were perceived to be the highest priority supply chain risks for the U.S. food hubs before the COVID-19 pandemic. The study further provides insights on association between food hub characteristics and risk, as well as association between risk preferences and risk perceptions of food hub managers [EconLit Citations: L29 Other (Firm Supply Chain Risk Management)].
{"title":"Identification and assessment of supply chain risks: The case of food hubs","authors":"Tatevik Avetisyan Artoonian, R. Brent Ross, Robert S. Shupp","doi":"10.1002/agr.21877","DOIUrl":"https://doi.org/10.1002/agr.21877","url":null,"abstract":"The supply chain risk management literature highlights the importance of ex-ante identification and assessment of risks to ensure continuity of firms, in particular, and the high performance of supply chains in which they operate, in general. Supply chain disruptions are harmful and costly for firms. The risk of such disruptions can be particularly consequential for firms in emerging industries that lack resources and for which dominant organizational and supply chain designs do not yet exist. Within local and regional food supply chains, food hubs are nascent enterprises coordinating these supply chains. Building off the existing supply chain risk management literature, this study identifies and assesses the perceived supply chain risks faced by U.S. food hubs. The study employs an exploratory sequential mixed methods research design and the Failure Mode and Effect Analysis methodology for this purpose. The results show risks related to imbalances in food supply and demand, logistical delays, human resources, and infrastructure capacity limitations were perceived to be the highest priority supply chain risks for the U.S. food hubs before the COVID-19 pandemic. The study further provides insights on association between food hub characteristics and risk, as well as association between risk preferences and risk perceptions of food hub managers [EconLit Citations: L29 Other (Firm Supply Chain Risk Management)].","PeriodicalId":55544,"journal":{"name":"Agribusiness","volume":"70 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2023-12-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138631135","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The value of proactive environmental strategies to achieve and maintain competitive advantages in the business sphere has been widely acknowledged in recent years. However, mixed results can still be found regarding the determinants and consequences of the implementation of such practices. This study investigates the determinants of environmental proactivity in Spanish wineries, focusing on the role of company size in linking internal motivations and stakeholder pressure with proactive environmental strategy using the natural resource-based view. So far, no research of this type has been carried out for the Spanish wine sector. A structural equation model is proposed based on partial least squares applied to a sample of 251 wine companies to evaluate both the direct relationships and the moderating effect. The study identifies internal motivations, community pressure, and regulatory pressure as determinants of proactive environmental strategy. Company characteristics play an essential role in decision-making when dealing with environmental issues proactively. Small companies tend to be more influenced by internal motivations, while larger companies are driven to undertake environmental actions based on external pressures. Additionally, we found that managers who take a proactive approach to environmental protection can achieve financial rewards. These findings provide important implications for both policymakers and managers by offering new theoretical and empirical insight into how proactive environmental strategy affects financial performance in the case of Spain's wine companies. [EconLit Citations: O31, Q55, C30].
{"title":"Examining environmental proactivity in the Spanish wine industry: The moderating role of size","authors":"Marcos Carchano, Inmaculada Carrasco, Angela González","doi":"10.1002/agr.21882","DOIUrl":"https://doi.org/10.1002/agr.21882","url":null,"abstract":"The value of proactive environmental strategies to achieve and maintain competitive advantages in the business sphere has been widely acknowledged in recent years. However, mixed results can still be found regarding the determinants and consequences of the implementation of such practices. This study investigates the determinants of environmental proactivity in Spanish wineries, focusing on the role of company size in linking internal motivations and stakeholder pressure with proactive environmental strategy using the natural resource-based view. So far, no research of this type has been carried out for the Spanish wine sector. A structural equation model is proposed based on partial least squares applied to a sample of 251 wine companies to evaluate both the direct relationships and the moderating effect. The study identifies internal motivations, community pressure, and regulatory pressure as determinants of proactive environmental strategy. Company characteristics play an essential role in decision-making when dealing with environmental issues proactively. Small companies tend to be more influenced by internal motivations, while larger companies are driven to undertake environmental actions based on external pressures. Additionally, we found that managers who take a proactive approach to environmental protection can achieve financial rewards. These findings provide important implications for both policymakers and managers by offering new theoretical and empirical insight into how proactive environmental strategy affects financial performance in the case of Spain's wine companies. [EconLit Citations: O31, Q55, C30].","PeriodicalId":55544,"journal":{"name":"Agribusiness","volume":"23 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2023-12-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138630814","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Lin Sun, Qiaoyun Fang, Zhaofang Ni, Michael R. Reed
Against the background of rapid increases in food imports, high food import prices have become an important issue for China. This paper first establishes the theoretical relationship between per capita income and import price, then uses a panel data fixed effect model and an instrumental variable estimation based on highly disaggregated firm-level import data from the General Administration of Customs to analyze food import prices. This paper studies the impact of China's per capita income on the food import price and the key role of imported food quality in price formation for imported food in China. The study finds that the increase in per capita income has a significant, positive influence on the price of imported food in China, but this positive impact on the price is due to quality upgrading. The results suggest that while the increase of per capita income in China has generally pushed up import food prices, it has been mainly due to imports of higher-quality food. There is no evidence that Chinese consumers are being fleeced by foreign exporting country or are seeking expensive products to flaunt their wealth. Chinese consumers are upgrading their diet with higher-quality food imports. [EconLit Citations: F13, F14, Q17, Q18].
{"title":"Not the priciest, but the best quality: A new interpretation of high import food price in China","authors":"Lin Sun, Qiaoyun Fang, Zhaofang Ni, Michael R. Reed","doi":"10.1002/agr.21879","DOIUrl":"https://doi.org/10.1002/agr.21879","url":null,"abstract":"Against the background of rapid increases in food imports, high food import prices have become an important issue for China. This paper first establishes the theoretical relationship between per capita income and import price, then uses a panel data fixed effect model and an instrumental variable estimation based on highly disaggregated firm-level import data from the General Administration of Customs to analyze food import prices. This paper studies the impact of China's per capita income on the food import price and the key role of imported food quality in price formation for imported food in China. The study finds that the increase in per capita income has a significant, positive influence on the price of imported food in China, but this positive impact on the price is due to quality upgrading. The results suggest that while the increase of per capita income in China has generally pushed up import food prices, it has been mainly due to imports of higher-quality food. There is no evidence that Chinese consumers are being fleeced by foreign exporting country or are seeking expensive products to flaunt their wealth. Chinese consumers are upgrading their diet with higher-quality food imports. [EconLit Citations: F13, F14, Q17, Q18].","PeriodicalId":55544,"journal":{"name":"Agribusiness","volume":"5 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2023-12-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138630818","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Food security is an important guarantee for people's lives and national security, and digital transformation provides a new approach to improving the level of food security. Based on panel data from 30 provinces in China from 2007 to 2021, this paper empirically analyzes the impact of digital transformation on food security using fixed effects model, mediation model, moderation model, and spatial Durbin model. The research results show that: (1) digital transformation has a promoting effect on the level of food security, and there is regional heterogeneity in this promoting effect; (2) digital transformation has a mediating effect on the level of food security, which can improve the level of food security by promoting technological innovation, agricultural scale management, and marketization levels; (3) environmental regulations play a positive moderating role in the process of digital transformation promoting the level of food security; (4) there is a spatial spillover effect of digital transformation on the level of food security, which has a positive spillover effect on surrounding areas. Therefore, moving forward, it is imperative that we prioritize the digital transformation of the entire food industry chain, promote the coordinated development of digital industries in various regions, further improve the R&D innovation capability of digital technology, promote the integration of farmland to achieve large‐scale agricultural operation, and enhance the level of marketization, and at the same time improve environmental monitoring standards, fully tap the promoting effect of digital transformation on regional food security level. [EconLit Citations: Q16, Q18, R15].
{"title":"Can digital transformation promote the improvement of regional food security? Empirical findings from China","authors":"Shunyu Yao, Zitian Fu","doi":"10.1002/agr.21881","DOIUrl":"https://doi.org/10.1002/agr.21881","url":null,"abstract":"Food security is an important guarantee for people's lives and national security, and digital transformation provides a new approach to improving the level of food security. Based on panel data from 30 provinces in China from 2007 to 2021, this paper empirically analyzes the impact of digital transformation on food security using fixed effects model, mediation model, moderation model, and spatial Durbin model. The research results show that: (1) digital transformation has a promoting effect on the level of food security, and there is regional heterogeneity in this promoting effect; (2) digital transformation has a mediating effect on the level of food security, which can improve the level of food security by promoting technological innovation, agricultural scale management, and marketization levels; (3) environmental regulations play a positive moderating role in the process of digital transformation promoting the level of food security; (4) there is a spatial spillover effect of digital transformation on the level of food security, which has a positive spillover effect on surrounding areas. Therefore, moving forward, it is imperative that we prioritize the digital transformation of the entire food industry chain, promote the coordinated development of digital industries in various regions, further improve the R&D innovation capability of digital technology, promote the integration of farmland to achieve large‐scale agricultural operation, and enhance the level of marketization, and at the same time improve environmental monitoring standards, fully tap the promoting effect of digital transformation on regional food security level. [EconLit Citations: Q16, Q18, R15].","PeriodicalId":55544,"journal":{"name":"Agribusiness","volume":"25 2","pages":""},"PeriodicalIF":3.2,"publicationDate":"2023-12-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138980042","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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