CAUSALITIES IN THE WORLD SUGAR MARKET: SOME EMPIRICAL FINDINGS, 1951-1982
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概要
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The Sims test reveals a fairly strong feedback relationship between the world free market price and the world stocks of sugar. However, between the price and the world production the causality is found uni-directional running only from the latter. The beet-sugar exerts a disproportionately large influence on the price. The lagged price, the lagged stocks and the current production together explain 73% of the year-to-year changes in the world free market price.
- 慶應義塾大学の論文