| In recent years our country’s vegetable price has been continuing to rise. However in sharp contrast, the purchasing price of vegetable has gone all the way down, even has been slack, thus the very asymmetric situation of the purchasing and retailing price has been present. The existence of the structural surplus and inadequacy of our vegetable supply makes the growth of income of vegetable peasant in a dilemma while the overall output of vegetable is gradually increasing. Behavioral agents on the vegetable industry chain enjoy a quite unbalanced benefit, peasants complain that they couldn’t make a fortune, and consumers claim that vegetable prices are too high, while middlemen have reaped huge profit. One major reason that the retail price of our vegetable is continuing to rise is the gap between the wholesale price and the retail price is too huge and the price transmission between these two markets is asymmetric. Thus studying the price transmission mechanism in different circulation link of farm products is of great significance to promote the farm products’circulation efficiency.Based on the systematically reviewing and commenting the domestic and foreign literature on farm products’circulation, the paper probes into the asymmetric price transmission of the our vegetable wholesale and retail market and tries to explain it form the respect of vegetable wholesale price and retail price transmission. The purpose of the research is through grasp of the overall situation of the wholesale and retail markets of our country’s vegetable industry and combined with field survey, to put forward some practical measures to provide reference on how to promote the efficient circulation of vegetable from wholesale market to retail market.This paper adopts case study method as a empirical research and takes tomato, cucumber, green pepper and Chinese cabbage four type vegetables as the targets and explores the price transmission mechanism of the wholesale and retail markets of our vegetable industry, employs correlation coefficient, coefficient variation and the ratio of wholesale price to retail price to study the correlation between wholesale price and retail price, and determines the lag order through the stationary test, builds VAR model, uses the Granger cause and effect test, impulse response function and variance decomposition to analyze the transmission of the wholesale price to the retail price. Followed, the paper builds the asymmetric vertical price transmission model (APT) to do the empirical study on the asymmetric price transmission mechanism of the four type vegetables. The following conclusions are drawn: (1) The wholesale price and the retail price of the four type vegetables are highly correlated and consistent, and the fluctuation range of retail prices is smaller than that of wholesale prices;(2) The price transmission form the wholesale market to the retail market is asymmetric, and the recent fluctuation on the retail price fluctuation is larger than the forward fluctuation.(3) The monthly time series data of four type vegetables are non-stationary, the wholesale price and the retail price have long-term stable equilibrium relation and bidirectional Granger cause relation;The paper then takes market structure, information asymmetry, the game theory as the theoretical guidance, stands on the different angles of wholesaler, retailer, consumer and government to explain the asymmetric price transmission of our vegetable wholesale and retail markets, and invents the five hypothesis the market structure hypothesis, transaction cost hypothesis, price rigidity and conspiracy hypothesis and government intervention and retailers rational interaction hypothesis. And finally summaries the whole paper and puts forward some suggestions accordingly. |
PDF Full Text Request