The interactions between Chinese local corn and WTI crude oil prices: an empirical analysis
投稿时间:2018-10-28  
英文关键词:WTI crude oil spot price, Chinese corn price, Granger causality test, Impulse response analysis
基金项目:The authors would like to express their deepest appreciation to all the individuals who have helped them in the completion of the study. The project was sponsored by MOE Project of Humanities and Social Sciences (Project No. 17YJC790107). The project was sponsored by the National Social Science Foundation of China (Project No. 18BJY251)
作者单位
Zhengwei Ma School of Business Administration, China University of Petroleum (Beijing), Changping, Beijing 102249, People’s Republic of China 
Wenjia Hou School of Business Administration, China University of Petroleum (Beijing), Changping, Beijing 102249, People’s Republic of China 
摘要点击次数: 16
全文下载次数: 25
      
英文摘要:
      This paper investigates the relationship between China’s fuel ethanol promotion plan and food security based on the interactions between the crude oil market, the fuel ethanol market and the grain market. Based on the US West Texas Intermediate (WTI) crude oil spot price and Chinese corn prices from January 2008 to May 2018, this paper applies Granger causality testing and a generalized impulse response function to explore the relationship between world crude oil prices and Chinese corn prices. The results show that crude oil prices are not the Granger cause of China’s corn prices, but changes in world crude oil prices will have a long-term positive impact on Chinese corn prices. Therefore, the Chinese government should pay attention to changes in crude oil prices when promoting fuel ethanol. Considering the conduction effect between fuel ethanol and the food market, the government should also take some measures to ensure food security.
Zhengwei Ma,Wenjia Hou,2019.The interactions between Chinese local corn and WTI crude oil prices: an empirical analysis.Petroleum Science,16(4):929~938.
查看全文  查看/发表评论  下载PDF阅读器