Dynamic relationships between US and Thai rice prices*1
研究了1987-1991年间美国农业部世界市场价格、泰国大米价格、美国糙米价格和芝加哥大米期货价格之间的关系，用协整分析检验市场定价和信息效率。
Relationships between the United States Department of Agriculture's (USDA) estimated World Market Price, the Thai milled rice price, US transportation-adjusted cash rough rice price, and the Chicago Rice and Cotton Exchange rough rice futures price are examined for the 1987-1991 marketing years. Specifically, a cointegration analysis is used to address the pricing and informational efficiency of the respective markets. Testing indicates the system is described by two cointegrating vectors. The analysis preformed herein provides insight into the pricing performance of several world rice markets.