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The Impact of Renminbi Appreciation on the World Rice Market


  • Yongfu Chen
  • Hsiaoping Chien
  • Jun Furuya
  • Osamu Koyama

    () (College of Economics and Management, China Agricultural University Center for Rural Development Policy,China Agricultural University)


The World Rice Model (WRCM) was developed based on partial equilibrium approach in this paper. An impact of Renminbi (RMB or Chinese Yuan) appreciation scenarios on the world rice market was projected to 2020 by WRCM. The result indicates that RMB appreciation in the short term will lead to a dramatic change in the international rice price index. When RMB appreciation rate is greater than 4%, the international rice price index will continue to rise, and when it is greater than 8%, China will become the largest rice importer in the world.

Suggested Citation

  • Yongfu Chen & Hsiaoping Chien & Jun Furuya & Osamu Koyama, 2007. "The Impact of Renminbi Appreciation on the World Rice Market," Working Papers 0703, China Agricultural University, College of Economics and Management.
  • Handle: RePEc:cau:wpaper:0703

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    File Function: First version, 2007
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    More about this item


    World Rice Model; Renminbi appreciation; Partial equilibrium;

    JEL classification:

    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • Q17 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agriculture in International Trade


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