Price Transmission of Imported Hardwood Lumber in China

Yang Lihua; Wang Xiudong; Yin Zhonghua

doi:10.13931/j.cnki.bjfuss.2021357

Journal of Beijing Forestry University (Social Science) > 2022 > 21(4): 50-57. > DOI: 10.13931/j.cnki.bjfuss.2021357

Yang Lihua, Wang Xiudong, Yin Zhonghua. Price Transmission of Imported Hardwood Lumber in China[J]. Journal of Beijing Forestry University (Social Science), 2022, 21(4): 50-57. DOI: 10.13931/j.cnki.bjfuss.2021357

Citation:

PDF (703 KB)

Price Transmission of Imported Hardwood Lumber in China

School of Economics and Management, Beijing Forestry University, 100083, P. R. China

More Information

Received Date: December 21, 2021
Available Online: July 05, 2022
Published Date: December 24, 2022

Graphical Abstract

Abstract

Abstract

Since April 2015, China has implemented the policy of completely stopping commercial logging of natural forests. The implementation of this policy has led to a decrease in the supply of domestic hardwood lumber and an increase in the import dependence of hardwood lumber, which had brought about a profound impact on the price transmission among China's imported hardwood lumber. In this context,we selected the daily price data of major imported hardwood lumber (Merbau, Sapele,Triplochiton, Beech and Okoume) in China from 2011 to 2019 for empirical study. June 1, 2015 was identified as the structural mutation point, and the time interval was divided into two sub-intervals. The price transmission relationship between imported hardwood lumber was empirically analyzed by the threshold cointegration model.The results showed that each price group had asymmetric price transmission relationship in the two sub-intervals, and the asymmetry of price transmission was further enhanced after the implementation of commercial ban policy of natural forest, which led to the widening of the welfare distribution gap of timber importers and exporters, and made Chinese timber importers in a more unfavorable trade position. On this basis, we put forward some strategies to deal with asymmetric price transmission from the perspectives of government and enterprises, so as to maintain fair and reasonable timber trade.
- hardwood lumber,
- natural forest under commercial ban,
- asymmetric price transmission,
- threshold cointegration model

FullText(HTML)

References (20)

References

[1]	SUN C. Recent growth in China's roundwood import and its global implications[J]. Forest Policy and Economics,2014,39:43-53. doi: 10.1016/j.forpol.2013.11.006
[2]	国家林业和草原局. 2018年度中国林业和草原发展报告[M]. 北京: 中国林业出版社, 2019.
[3]	蒋业恒,高娜,陈勇,等. 中国木材进口需求材种结构数量关系分析[J]. 世界林业研究,2020,34(2):62-67.
[4]	崔海鸥,刘珉. 我国第九次森林资源清查中的资源动态研究[J]. 西部林业科学,2020,49(5):90-95.
[5]	MEYER J,VON CRAMON-TAUBADEL S. Asymmetric price transmission:a survey[J]. Journal of Agricultural Economics,2004,55(3):581-611. doi: 10.1111/j.1477-9552.2004.tb00116.x
[6]	KOUTROUMANIDIS T,ZAFEIRIOU E,ARABATZIS G. Asymmetry in price transmission between the producer and the consumer prices in the wood sector and the role of imports:the case of Greece[J]. Forest Policy and Economics,2009,11:56-64. doi: 10.1016/j.forpol.2008.09.002
[7]	AHN B,LEE H. Asymmetric transmission between factory and wholesale prices in fiberboard market in Korea[J]. Journal of Forest Economics,2013,19:1-14. doi: 10.1016/j.jfe.2012.06.008
[8]	NING Z,SUN C. Vertical price transmission in timber and lumber markets[J]. Journal of Forest Economics,2014,20(1):17-32. doi: 10.1016/j.jfe.2013.07.002
[9]	SUN C. Price dynamics in the import wooden bed market of the United States[J]. Forest Policy and Economics,2011,13(6):479-87. doi: 10.1016/j.forpol.2011.05.009
[10]	PELTZMAN S. Prices rise faster than they fall[J]. Journal of Political Economy,2000,108(3):466-502. doi: 10.1086/262126
[11]	SAADI H. Price Co-movements in international markets and their impacts on price dynamics[M]//PIOT-LEPETIT I, M'BAREK R. Methods to analyse agricultural commodity price volatility. New York: Springer, 2011: 149-164.
[12]	GHOSHRAY A. An examination of the relationship between U. S. and Canadian durum wheat prices[J]. Canadian Journal of Agricultural Economics,2007,55(1):49-62. doi: 10.1111/j.1744-7976.2007.00079.x
[13]	吕达奇. 大豆市场非对称价格传导机制[D]. 南京: 南京农业大学, 2017.
[14]	蓝瞻瞻. 中国木材加工业产业链优化研究[D]. 北京: 北京林业大学, 2012.
[15]	郭喜良, 冉俊祥. 进口木材原色图鉴[M]. 上海: 上海科学技术出版社, 2016.
[16]	张晓敏,周应恒. 基于易腐特性的农产品纵向关联市场间价格传递研究−以果蔬产品为例[J]. 江西财经大学学报,2012(2):78-85. doi: 10.3969/j.issn.1008-2972.2012.02.010
[17]	李秋娟. 天然林全面停伐背景下中国木材安全预警研究[D]. 北京: 中国林业科学研究院, 2018.
[18]	GHOSHRAY A. Agricultural economics society prize essay asymmetric price adjustment and the world wheat market[J]. Journal of Agricultural Economics,2002,53:299-317. doi: 10.1111/j.1477-9552.2002.tb00022.x
[19]	ENDERS W,SIKLOS P L. Cointegration and threshold adjustment[J]. Journal of Business & Economic Statistics,2001,19:166-176.
[20]	GANNEVAL S. Spatial price transmission on agricultural commodity markets under different volatility regimes[J]. Economic Modelling,2016,52:173-185. doi: 10.1016/j.econmod.2014.11.027

[1]	Yang Yu, Zhang Caihong. Impact of Digital Finance Development on China's Green Development Level[J]. Journal of Beijing Forestry University (Social Science), 2022, 21(3): 28-36. DOI: 10.13931/j.cnki.bjfuss.2021248
[2]	Gong Mengdie, Xia Erman, Zhang Yichen, Li Ruichao, Wei Ying, Yu Chang. The Impact of China's Waste Paper Import Ban on the Paper Industry: Based on the Global Forest Products Model[J]. Journal of Beijing Forestry University (Social Science), 2022, 21(1): 29-36. DOI: 10.13931/j.cnki.bjfuss.2021219
[3]	MIAO Dong-ling, HAN Yi-song, MAO Yu-ling. Influential Factors of Wooden Furniture Export Growth from China to the United State: An Analysis Based on CMS Model[J]. Journal of Beijing Forestry University (Social Science), 2018, 17(2): 84-90. DOI: 10.13931/j.cnki.bjfuss.2018002
[4]	ZHANG Qiong-rui, WANG Zhong-jun. Evaluation on the Service Quality of Science and Education Tourism Based on the Service Quality Model: A Case Study of UF Software Park[J]. Journal of Beijing Forestry University (Social Science), 2016, 15(3): 35-41. DOI: 10.13931/j.cnki.bjfuss.2016033
[5]	MIAO Dong-ling, LIU Ye, CHENG Bao-dong. Empirical Analysis of the Factors Influencing Export Growth of Wood Floor in China: Based on CMS Model[J]. Journal of Beijing Forestry University (Social Science), 2014, 13(3): 79-85.
[6]	SHI Ling, LI Shu-yan, CHENG Zhao-hao. Development Model of International Ski Tourism[J]. Journal of Beijing Forestry University (Social Science), 2013, 12(3): 75-80.
[7]	MA Zhi-bo, HUANG Qing-lin, MA Hwan OK. Logistic Modeling Analysis on Compensation for Ecosystem Servicesof Natural Commercial Forest[J]. Journal of Beijing Forestry University (Social Science), 2012, 11(1): 63-68.
[8]	CHENG Bao-dong. Competitiveness Analysis of Furniture Industry Cluster in Guangdong Province Based on GEM Model[J]. Journal of Beijing Forestry University (Social Science), 2011, 10(1): 76-79.
[9]	HU Rui, SONG Wei-ming. Research on Management Models of Plantation and Its Reference[J]. Journal of Beijing Forestry University (Social Science), 2010, 9(3): 91-95.
[10]	NING Yan-jie, 　LIU Yuan-jun, 　ZHANG Zhi-qiang. Eco-residential Complex Evaluation Model for Livable City[J]. Journal of Beijing Forestry University (Social Science), 2008, 7(4): 80-85.

Cited By

Cited by

Periodical cited type(0)

Other cited types(1)

Get Citation

PDF

XML

Article views (416) PDF downloads (14) Cited by(1)

Turn off MathJax

Article Contents

Abstract

References

Price Transmission of Imported Hardwood Lumber in China

Abstract

References

Related Articles

Cited by

Periodical cited type(0)

Other cited types(1)

Catalog

Price Transmission of Imported Hardwood Lumber in China

Abstract

References

Related Articles

Cited by

Periodical cited type(0)

Other cited types(1)

Catalog

Export File

Citation

Format

Content