Proceedings of the International Conference on Science Technology and Social Sciences – Social Science Track (ICONSTAS-SS 2023)

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The Dynamics of China’s Mutton Price Fluctuations Under Extreme Events

Authors
Xiong Zheng1, *, Adrian Daud1, 2, Anita Rosli1, 2, Shairil Izwan Taasim1
1Department of Social Science and Management, Faculty of Humanities, Management and Science, Universiti Putra Malaysia (Bintulu Campus), 97008, Bintulu, Sarawak, Malaysia
2Institute of Ecosystem Science Borneo, Universiti Putra Malaysia Bintulu Campus, 97008, Bintulu, Sarawak, Malaysia
*Corresponding author.
Corresponding Author
Xiong Zheng
Available Online 2 October 2024.
DOI
10.2991/978-2-38476-293-4_11How to use a DOI?
Keywords
Endogenous price fluctuation; Agricultural supply chain; mutton supply
Abstract

The notion of price instability has garnered renewed interest because of ongoing swings in agricultural prices in nations like China. We investigate the root cause of price volatility in the mutton market in China. To this purpose, we develop a theoretical model to explain endogenous price changes in the Chinese mutton supply chain by using information from our fieldwork and estimates from unobserved component models. We use vector auto regressions and weekly data on sheep and mutton prices in China to derive hypotheses from our theoretical model that can be tested under conventional assumptions. Our empirical results are consistent with those of our theoretical model, and the evidence of endogenous dynamics in observed prices is resistant to different specifications and estimating techniques. We demonstrate with the aid of numerical simulations how empirically based parameterizations of our theoretical model can accurately represent the key elements of mutton price fluctuations in China. Our descriptive, empirical, and numerical studies have accumulated evidence that strongly supports the endogenous nature of price instability in China’s mutton supply chain.

Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the International Conference on Science Technology and Social Sciences – Social Science Track (ICONSTAS-SS 2023)
Series
Advances in Social Science, Education and Humanities Research
Publication Date
2 October 2024
ISBN
978-2-38476-293-4
ISSN
2352-5398
DOI
10.2991/978-2-38476-293-4_11How to use a DOI?
Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Xiong Zheng
AU  - Adrian Daud
AU  - Anita Rosli
AU  - Shairil Izwan Taasim
PY  - 2024
DA  - 2024/10/02
TI  - The Dynamics of China’s Mutton Price Fluctuations Under Extreme Events
BT  - Proceedings of the International Conference on Science Technology and Social Sciences – Social Science Track (ICONSTAS-SS 2023)
PB  - Atlantis Press
SP  - 108
EP  - 120
SN  - 2352-5398
UR  - https://doi.org/10.2991/978-2-38476-293-4_11
DO  - 10.2991/978-2-38476-293-4_11
ID  - Zheng2024
ER  -