Market Emergence and Transition: Transaction Costs, Arbitrage, and Autarky in China’s Grain Markets.
Using tri-monthly Chinese provincial grain prices from 1988 to 1995, we estimate a parity-bounds model of inter-regional trade for four sub-periods to characterize how multiple aspects of market performance change during the process of economic transition. For each period, we estimat...
| Main Authors: | , , , |
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| Format: | Journal article |
| Language: | English |
| Published: |
Oxford University Press
2002
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