주요 수산물의 국내 소비시장에서의 일물일가법칙의 성립여부：냉동오징어, 냉동갈치, 건멸치를 중심으로
(주)코리아스칼라
- 최초 등록일
- 2023.04.05
- 최종 저작일
- 2017.03
- 21페이지/
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서지정보
ㆍ발행기관 : 한국수산경영학회
ㆍ수록지정보 : 水産經營論集 / 48권 / 1호
ㆍ저자명 : 임은선, 김기수
영어 초록
We explore each of the three major domestic fishery product markets in South Korea- Frozen Squid, Frozen Hair tail and Dried Anchovy- to assess whether we can find evidence for Law of One Price (LOP) across the five major cities- Seoul, Dae-Jeon, Dae-Gu, Gwang-Ju and Busan. To achieve our aim, we utilize two different types of unit root tests: Augmented Dickey-Fuller (ADF) and Kwiatkowski-Phillips-Schmidt- Shin (KPSS) unit root test. In each of the three fishery product markets, we find evidence in support of LOP among several cities, which confirms that these markets are integrated to a certain extent.
In particular, we find stronger evidence of LOP for Dried Anchovy market relative to the other two fishery product markets. Based on our findings, we argue that the Dried Anchovy market exhibits a greater degree of market integration across the five major cities in South Korea compared to the other two fishery product markets. The greater degree of market integration in the Dry Anchovy market is facilitated by its higher substitutability across cities; taken together these findings show that the market for Dried Anchovy in South Korea is more efficient than the markets for Frozen Squid and Frozen Hair tail.
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