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Spatial Equilibrium Modeling With Imperfectly Competitive Markets: An Application To Rice Trade

Listed author(s):
  • Chen, Chi-Chung
  • McCarl, Bruce A.
  • Chang, Ching-Cheng
  • Hsu, Shih-Hsun

A general imperfect competition spatial equilibrium model is developed to estimate the trading country behaviors in the international rice market using a conjectural variation approach. Such a model allows the possibility of an imperfect competitive market to exit on both the export and import sides without any assumption of market structure. The empirical results show that the major exporting countries, Thailand, Vietnam, and the U.S. acted as high degree of imperfect competitors(or oligopolies) while Pakistan acted as a lower degree of imperfect competitor. The importing countries such as Japan, the Philippines, Europe, Brazil, and the former USSR behaved as high degree of imperfect competitors (or oligopsonies). The empirical results also show that there are welfare gains of $1,492 million when all trading countries comply with the free trade agreement.

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File URL: http://purl.umn.edu/19687
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Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2002 Annual meeting, July 28-31, Long Beach, CA with number 19687.

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Date of creation: 2002
Handle: RePEc:ags:aaea02:19687
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  1. Carl H. Nelson & Bruce A. McCarl, 1984. "Including Imperfect Competition in Spatial Equilibrium Models," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 32(1), pages 55-70, 03.
  2. Barbara J. Spencer & James A. Brander, 1982. "Tariff Protection and Imperfect Competition," Working Papers 517, Queen's University, Department of Economics.
  3. Tsunemasa Kawaguchi & Nobuhiro Suzuki & Harry M. Kaiser, 1997. "A Spatial Equilibrium Model for Imperfectly Competitive Milk Markets," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(3), pages 851-859.
  4. Yujiro Hayami & Yoshihisa Godo, 1997. "Economics and Politics of Rice Policy in Japan: A Perspective on the Uruguay Round," NBER Chapters,in: Regionalism versus Multilateral Trade Arrangements, NBER-EASE Volume 6, pages 371-404 National Bureau of Economic Research, Inc.
  5. Martin K. Perry, 1982. "Oligopoly and Consistent Conjectural Variations," Bell Journal of Economics, The RAND Corporation, vol. 13(1), pages 197-205, Spring.
  6. Carter, Colin A & MacLaren, Donald, 1997. "Price or Quantity Competition? Oligopolistic Structures in International Commodity Markets," Review of International Economics, Wiley Blackwell, vol. 5(3), pages 373-385, August.
  7. Brander, James A. & Spencer, Barbara J., 1985. "Export subsidies and international market share rivalry," Journal of International Economics, Elsevier, vol. 18(1-2), pages 83-100, February.
  8. Thursby, Marie & Jensen, Richard, 1983. "A conjectural variation approach to strategic tariff equilibria," Journal of International Economics, Elsevier, vol. 14(1-2), pages 145-161, February.
  9. Siamwalla, Ammar & Haykin, Stephen, 1983. "The world rice market: structure, conduct, and performance," Research reports 39, International Food Policy Research Institute (IFPRI).
  10. Karp, Larry S & Perloff, Jeffrey M, 1989. "Dynamic Oligopoly in the Rice Export Market," The Review of Economics and Statistics, MIT Press, vol. 71(3), pages 462-470, August.
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