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Asia’s Evolving Role in Global Wine Markets

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  • Anderson, Kym
  • Wittwer, Glyn

Abstract

Over the past decade Hong Kong and China have become far more important to the world’s wine markets, while Southeast Asia’s imports of fine wine continue to grow steadily. This paper reviews recent developments in the light of comparative advantage theory before drawing on a model of global wine markets to project developments in Asia and elsewhere over the next five years under various economic growth, real exchange rate, and policy assumptions. It concludes that China is set to continue to be by far the most dominant player in Asia, and to change global markets for wines dramatically, just as it has been doing and will continue to do for so many other products.

Suggested Citation

  • Anderson, Kym & Wittwer, Glyn, 2015. "Asia’s Evolving Role in Global Wine Markets," CEPR Discussion Papers 10552, C.E.P.R. Discussion Papers.
  • Handle: RePEc:cpr:ceprdp:10552
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Chen, Natalie & Juvenal, Luciana, 2018. "Quality and the Great Trade Collapse," Journal of Development Economics, Elsevier, vol. 135(C), pages 59-76.
    2. Kym Anderson, 2018. "Australian wine industry competitiveness: why so slow to emerge?," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 62(4), pages 507-526, October.
    3. Santeramo, F G & Lamonaca, E & Nardone, G & Seccia, A, 2018. "On the Effects of Bilateral Agreements in World Wine Trade On the Effects of Bilateral Agreements in World Wine Trade," 2018 Seventh AIEAA Conference, June 14-15, Conegliano, Italy 275644, Italian Association of Agricultural and Applied Economics (AIEAA).
    4. Masset, Philippe & Weisskopf, Jean-Philippe & Faye, Benoît & Le Fur, Eric, 2016. "Red obsession: The ascent of fine wine in China," Emerging Markets Review, Elsevier, vol. 29(C), pages 200-225.
    5. Anderson, Kym & Harada, Kimie, 2018. "How Much Wine Is Really Produced and Consumed in China, Hong Kong, and Japan?," Journal of Wine Economics, Cambridge University Press, vol. 13(02), pages 199-220, May.
    6. Anderson, Kym & Wittwer, Glyn, 2018. "Cumulative Effects of Brexit and Other UK and EU27 Bilateral FTAs on the World's Wine Markets," CEPR Discussion Papers 12621, C.E.P.R. Discussion Papers.
    7. Kym Anderson & Joseph Francois & Douglas Nelson & Glyn Wittwer, 2016. "Intra-industry Trade in a Rapidly Globalizing Industry: The Case of Wine," Review of International Economics, Wiley Blackwell, vol. 24(4), pages 820-836, September.
    8. Santeramo, Fabio Gaetano & Lamonaca, Emilia & Nardone, Gianluca & Seccia, Antonio, 2018. "The Benefits of Country-specific Non-Tariff Measures in World Wine Trade," MPRA Paper 90647, University Library of Munich, Germany.
    9. Cumming, Douglas & Zhang, Yelin, 2016. "Alternative investments in emerging markets: A review and new trends," Emerging Markets Review, Elsevier, vol. 29(C), pages 1-23.

    More about this item

    Keywords

    changes in tastes; global grape and wine model projections; real exchange rate changes; wine comparison advantage;

    JEL classification:

    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • F11 - International Economics - - Trade - - - Neoclassical Models of Trade
    • F17 - International Economics - - Trade - - - Trade Forecasting and Simulation
    • Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness

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