ANALYZING SUBSTITUTABILITY IN THE WORLD MARKET OF VEGETABLE OILS FROM THE PRICE TRANSMISSION

Detalhes bibliográficos
Autor(a) principal: de Castro, Lucas Siqueira
Data de Publicação: 2016
Tipo de documento: Artigo
Idioma: por
Título da fonte: Contextus (Fortaleza. Online)
Texto Completo: http://periodicos.ufc.br/contextus/article/view/32276
Resumo: This study analyzed the elasticity of price transmission in the soybean oil market for palm oil, sunflower and canola from October 1997 to September 2016. From the concepts of the theories of the relevant market and market integration, it were estimated an error-correction models (VEC) for palm, sunflower and canola oils. The results showed that in the long term, the markets palm, sunflower and colza oils are integrated with that of soybean oil, thus being substitutes. The impulse response functions indicated that unanticipated changes in soybean oil prices are not dissipated for other vegetable oils. The decomposition of the variance of the palm, sunflower and canola oils showed that in the last analyzed month, soybean oil accounted for 62.36%, 55.12% and 44.76% of their prices.
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spelling ANALYZING SUBSTITUTABILITY IN THE WORLD MARKET OF VEGETABLE OILS FROM THE PRICE TRANSMISSIONANÁLISIS DEL SUSTITUCIÓN ENTRE ACEITES VEGETALES EN SU MERCADO MUNDIAL, POR LA TRANSMICION DEL PRECIOSANALISANDO A SUBSTITUTIBILIDADE NO MERCADO MUNDIAL DE ÓLEOS VEGETAIS VIA TRANSMISSÃO DE PREÇOSVegetable OilsTransmissionFeedVector Error Correction Model.Aceites Vegetalestransmisiónalimentaciónmodelo vectorial de corrección de errors.Óleos VegetaisTransmissãoAlimentaçãoModelo Vetor Correção de Erros.This study analyzed the elasticity of price transmission in the soybean oil market for palm oil, sunflower and canola from October 1997 to September 2016. From the concepts of the theories of the relevant market and market integration, it were estimated an error-correction models (VEC) for palm, sunflower and canola oils. The results showed that in the long term, the markets palm, sunflower and colza oils are integrated with that of soybean oil, thus being substitutes. The impulse response functions indicated that unanticipated changes in soybean oil prices are not dissipated for other vegetable oils. The decomposition of the variance of the palm, sunflower and canola oils showed that in the last analyzed month, soybean oil accounted for 62.36%, 55.12% and 44.76% of their prices.Este estudio analizó la elasticidad de transmisión de precios en el mercado de aceite de soja para el aceite de palma, girasol y colza desde octubre de 1997 a septiembre de 2016. Sobre la base de los conceptos de las teorías del mercado de referencia y la integración de los mercados, fueron estimados modelos de corrección de errores (VEC) para los aceites de palma, girasol y colza. Los resultados mostraron que en el largo plazo, los mercados de aceite de palma, girasol y colza se integran en el aceite de soja, y por lo tanto sustitutos. Las funciones de respuesta al impulso indicaron que los cambios no anticipados en los precios del aceite de soja no se disipan para otros aceites vegetales. La descomposición de la varianza de los aceites de palma, girasol y canola mostró que en el último mes, el aceite de soja es responsable de explicar 62.36%, 55.12% y 44.76% del precio de los mismos.Este trabalho analisou a elasticidade da transmissão de preços no mercado de óleo de soja para os óleos de palma, girassol e canola entre outubro de 1997 a setembro de 2014. A partir dos conceitos das teorias do mercado relevante e da integração de mercado, estimou-se modelos de correção de erros (VEC) para o óleo de girassol e modelos VAR (Auto Regressivo) para os óleos de palma e canola. Os resultados mostraram que, no longo prazo, apenas os mercados dos óleos de soja e girassol são integrados, sendo desta maneira substitutos, confirmando a teoria do Mercado Relevante. As funções de impulso resposta indicaram que variações não antecipadas no preço do óleo de soja não são dissipadas para os demais óleos vegetais. A decomposição da variância do óleo de girassol mostrou que no último mês analisado o óleo de soja é responsável por explicar 79,78% do preço do mesmo.FEAAC/UFC2016-12-24info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionModelo Vetor Correção de Errosapplication/pdfapplication/vnd.openxmlformats-officedocument.wordprocessingml.documentapplication/pdfapplication/ziphttp://periodicos.ufc.br/contextus/article/view/3227610.19094/contextus.v14i3.850Contextus - Contemporary Journal of Economics and Management; Vol 14 No 3: set/dez 2016; 79-93Contextus – Revista Contemporánea de Economía y Gestión; Vol. 14 Núm. 3: set/dez 2016; 79-93Contextus – Revista Contemporânea de Economia e Gestão; v. 14 n. 3: set/dez 2016; 79-932178-92581678-2089reponame:Contextus (Fortaleza. Online)instname:Universidade Federal do Ceará (UFC)instacron:UFCporhttp://periodicos.ufc.br/contextus/article/view/32276/pdfhttp://periodicos.ufc.br/contextus/article/view/32276/98247http://periodicos.ufc.br/contextus/article/view/32276/98248http://periodicos.ufc.br/contextus/article/view/32276/165677http://periodicos.ufc.br/contextus/article/view/32276/165678http://periodicos.ufc.br/contextus/article/view/32276/165679http://periodicos.ufc.br/contextus/article/view/32276/165740Copyright (c) 2016 Revista: apenas para a 1a. publicaçãohttps://creativecommons.org/licenses/by-nc/4.0info:eu-repo/semantics/openAccessde Castro, Lucas Siqueira2021-11-22T12:08:45Zoai:periodicos.ufc:article/32276Revistahttp://periodicos.ufc.br/contextusPUBhttp://periodicos.ufc.br/contextus/oairevistacontextus@ufc.br2178-92581678-2089opendoar:2021-11-22T12:08:45Contextus (Fortaleza. Online) - Universidade Federal do Ceará (UFC)false
dc.title.none.fl_str_mv ANALYZING SUBSTITUTABILITY IN THE WORLD MARKET OF VEGETABLE OILS FROM THE PRICE TRANSMISSION
ANÁLISIS DEL SUSTITUCIÓN ENTRE ACEITES VEGETALES EN SU MERCADO MUNDIAL, POR LA TRANSMICION DEL PRECIOS
ANALISANDO A SUBSTITUTIBILIDADE NO MERCADO MUNDIAL DE ÓLEOS VEGETAIS VIA TRANSMISSÃO DE PREÇOS
title ANALYZING SUBSTITUTABILITY IN THE WORLD MARKET OF VEGETABLE OILS FROM THE PRICE TRANSMISSION
spellingShingle ANALYZING SUBSTITUTABILITY IN THE WORLD MARKET OF VEGETABLE OILS FROM THE PRICE TRANSMISSION
de Castro, Lucas Siqueira
Vegetable Oils
Transmission
Feed
Vector Error Correction Model.
Aceites Vegetales
transmisión
alimentación
modelo vectorial de corrección de errors.
Óleos Vegetais
Transmissão
Alimentação
Modelo Vetor Correção de Erros.
title_short ANALYZING SUBSTITUTABILITY IN THE WORLD MARKET OF VEGETABLE OILS FROM THE PRICE TRANSMISSION
title_full ANALYZING SUBSTITUTABILITY IN THE WORLD MARKET OF VEGETABLE OILS FROM THE PRICE TRANSMISSION
title_fullStr ANALYZING SUBSTITUTABILITY IN THE WORLD MARKET OF VEGETABLE OILS FROM THE PRICE TRANSMISSION
title_full_unstemmed ANALYZING SUBSTITUTABILITY IN THE WORLD MARKET OF VEGETABLE OILS FROM THE PRICE TRANSMISSION
title_sort ANALYZING SUBSTITUTABILITY IN THE WORLD MARKET OF VEGETABLE OILS FROM THE PRICE TRANSMISSION
author de Castro, Lucas Siqueira
author_facet de Castro, Lucas Siqueira
author_role author
dc.contributor.author.fl_str_mv de Castro, Lucas Siqueira
dc.subject.por.fl_str_mv Vegetable Oils
Transmission
Feed
Vector Error Correction Model.
Aceites Vegetales
transmisión
alimentación
modelo vectorial de corrección de errors.
Óleos Vegetais
Transmissão
Alimentação
Modelo Vetor Correção de Erros.
topic Vegetable Oils
Transmission
Feed
Vector Error Correction Model.
Aceites Vegetales
transmisión
alimentación
modelo vectorial de corrección de errors.
Óleos Vegetais
Transmissão
Alimentação
Modelo Vetor Correção de Erros.
description This study analyzed the elasticity of price transmission in the soybean oil market for palm oil, sunflower and canola from October 1997 to September 2016. From the concepts of the theories of the relevant market and market integration, it were estimated an error-correction models (VEC) for palm, sunflower and canola oils. The results showed that in the long term, the markets palm, sunflower and colza oils are integrated with that of soybean oil, thus being substitutes. The impulse response functions indicated that unanticipated changes in soybean oil prices are not dissipated for other vegetable oils. The decomposition of the variance of the palm, sunflower and canola oils showed that in the last analyzed month, soybean oil accounted for 62.36%, 55.12% and 44.76% of their prices.
publishDate 2016
dc.date.none.fl_str_mv 2016-12-24
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Modelo Vetor Correção de Erros
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://periodicos.ufc.br/contextus/article/view/32276
10.19094/contextus.v14i3.850
url http://periodicos.ufc.br/contextus/article/view/32276
identifier_str_mv 10.19094/contextus.v14i3.850
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv http://periodicos.ufc.br/contextus/article/view/32276/pdf
http://periodicos.ufc.br/contextus/article/view/32276/98247
http://periodicos.ufc.br/contextus/article/view/32276/98248
http://periodicos.ufc.br/contextus/article/view/32276/165677
http://periodicos.ufc.br/contextus/article/view/32276/165678
http://periodicos.ufc.br/contextus/article/view/32276/165679
http://periodicos.ufc.br/contextus/article/view/32276/165740
dc.rights.driver.fl_str_mv Copyright (c) 2016 Revista: apenas para a 1a. publicação
https://creativecommons.org/licenses/by-nc/4.0
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2016 Revista: apenas para a 1a. publicação
https://creativecommons.org/licenses/by-nc/4.0
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
application/vnd.openxmlformats-officedocument.wordprocessingml.document
application/pdf
application/zip
dc.publisher.none.fl_str_mv FEAAC/UFC
publisher.none.fl_str_mv FEAAC/UFC
dc.source.none.fl_str_mv Contextus - Contemporary Journal of Economics and Management; Vol 14 No 3: set/dez 2016; 79-93
Contextus – Revista Contemporánea de Economía y Gestión; Vol. 14 Núm. 3: set/dez 2016; 79-93
Contextus – Revista Contemporânea de Economia e Gestão; v. 14 n. 3: set/dez 2016; 79-93
2178-9258
1678-2089
reponame:Contextus (Fortaleza. Online)
instname:Universidade Federal do Ceará (UFC)
instacron:UFC
instname_str Universidade Federal do Ceará (UFC)
instacron_str UFC
institution UFC
reponame_str Contextus (Fortaleza. Online)
collection Contextus (Fortaleza. Online)
repository.name.fl_str_mv Contextus (Fortaleza. Online) - Universidade Federal do Ceará (UFC)
repository.mail.fl_str_mv revistacontextus@ufc.br
_version_ 1798045752524537856

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