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The Effect of Soybean Trade between China and the United States on Chinese Residents’ Consumption Expenditure—Based on 2004-2016 Trade Data
Jinan University, Guangdong, China
Institute of Economy, Jinan University, Guangzhou, China
- 1 Jinan University, Guangdong, China
- 2 Institute of Economy, Jinan University, Guangzhou, China
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Abstract
This paper uses cointegration analysis method to estimate the correlation between China’s per-capita consumption expenditure and the amount of soybean imported from the United States. It is found that importing soy from the United States can reduce China’s per capita consumption expenditure. There is a long-term equilibrium between the per capita consumption expenditure and the imports of soybean native to the United States. In the short term, one of them can have a lasting impact on the other.
KeywordsCointegration AnalysisVECM ModelPer Capita Consumer ExpenditureImpulse Response
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