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Asymmetric Effects of Local and Global Variables on Domestic Food Prices in China: An Evidence from Quantile on Quantile Regression Technique

Author

Listed:
  • Bisharat Hussain Chang

    (Department of Business Administration, Sukkur IBA University, Sukkur, Pakistan)

  • Ashish K. Saxena

    (��Computer Science and Engineering, Redmond, WA, USA)

  • Andrej Privara

    (��Department of Economics, Faculty of Economics and Finance, University of Economics in Bratislava, Bratislava, Slovak Republic)

  • Mohammed Ahmar Uddin

    (�Department of Finance and Economics, College of Commerce and Business Administration, Dhofar University, Salalah, Dhofar, Oman)

  • Sebastian Cruz

    (�Economic Research Centre, London, UK)

Abstract

The existing research investigates the impact of global and national variables on local food prices. This study adds to the current research by examining such impact at various quantiles, frequencies, and time periods. Utilizing data from January 2004 to June 2021, our research incorporates six global factors and three domestic factors as explanatory variables. Furthermore, this study employs cutting-edge econometric techniques such as Quantile-on-Quantile Regression (QQR), Wavelet Coherence (WC), and Granger Causality in Quantiles (GCQ). Similarly, this research utilizes the Quantile Regression (QR) method to assess the robustness of the results. Results based on the GCQ technique indicate that the association between the variables exists at most quantiles, except for the lowest, and middle quantiles for all variables. Moreover, the WC findings demonstrate a strong correlation between the determinants of local food prices and their occurrences at various moments and intervals. Likewise, QQR results indicate that the impact of independent variables on local food prices varies across quantiles. The QR technique also supports these results. Finally, our research suggests policy recommendations based on the findings of this study.

Suggested Citation

  • Bisharat Hussain Chang & Ashish K. Saxena & Andrej Privara & Mohammed Ahmar Uddin & Sebastian Cruz, 2024. "Asymmetric Effects of Local and Global Variables on Domestic Food Prices in China: An Evidence from Quantile on Quantile Regression Technique," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 15(03), pages 1-28, October.
    • Handle: RePEc:wsi:jicepx:v:15:y:2024:i:03:n:s1793993324500194
    DOI: 10.1142/S1793993324500194
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    More about this item

    Keywords

    Nonlinear methods; domestic food prices; China; national factors global factors;
    All these keywords.

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
    • Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy; Animal Welfare Policy

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