Price transmission in the trans-atlantic northern shrimp value chain
Recent research has found that markets for farmed shrimp and wild-caught northern shrimp in Europe are integrated, indicating that northern shrimp prices are affected by total supply and demand of shrimp. Thus, the continued growth of global aquaculture production and associated price decline affect...
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Online Access: | https://curis.ku.dk/portal/da/publications/price-transmission-in-the-transatlantic-northern-shrimp-value-chain(68047487-a00c-4797-a83d-1b583d5bd3a1).html https://doi.org/10.1016/j.marpol.2018.04.002 |
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ftcopenhagenunip:oai:pure.atira.dk:publications/68047487-a00c-4797-a83d-1b583d5bd3a1 2024-06-09T07:46:30+00:00 Price transmission in the trans-atlantic northern shrimp value chain Nielsen, Max Ankamah-Yeboah, Isaac Staahl, Lisa Nielsen, Rasmus 2018 https://curis.ku.dk/portal/da/publications/price-transmission-in-the-transatlantic-northern-shrimp-value-chain(68047487-a00c-4797-a83d-1b583d5bd3a1).html https://doi.org/10.1016/j.marpol.2018.04.002 eng eng info:eu-repo/semantics/closedAccess Nielsen , M , Ankamah-Yeboah , I , Staahl , L & Nielsen , R 2018 , ' Price transmission in the trans-atlantic northern shrimp value chain ' , Marine Policy , vol. 93 , pp. 71-79 . https://doi.org/10.1016/j.marpol.2018.04.002 Cointegration Impulse-response function Law of One Price Price transmission Weak exogeneity article 2018 ftcopenhagenunip https://doi.org/10.1016/j.marpol.2018.04.002 2024-05-16T11:29:17Z Recent research has found that markets for farmed shrimp and wild-caught northern shrimp in Europe are integrated, indicating that northern shrimp prices are affected by total supply and demand of shrimp. Thus, the continued growth of global aquaculture production and associated price decline affect northern shrimp fisheries. In this paper, price transmission in the trans-Atlantic northern shrimp value chain is analysed using a Vector Auto Regressive model in Error Correction form. Cointegration, the Law of One Price (LOP) and weak exogeneity are tested. The results reveal linkages from Greenlandic and Canadian exports, via Denmark to the final consumers in Denmark and United Kingdom. The LOP was rejected in all cases. Hence, price transmission exists, but it is imperfect. Peeled shrimp is further found to be subject to downstream market leadership, while impulse-response functions identify mixed responses, with downstream market leadership being the dominant characteristic. Growth in shrimp aquaculture, ceteris paribus, presses northern shrimp fishermen, the Greenlandic economy and local economies at Newfoundland through price reductions. As such, fisheries and their management must continuously improve efficiency to stay competitive. Recent research has found that markets for farmed shrimp and wild-caught northern shrimp in Europe are integrated, indicating that northern shrimp prices are affected by total supply and demand of shrimp. Thus, the continued growth of global aquaculture production and associated price decline affect northern shrimp fisheries. In this paper, price transmission in the trans-Atlantic northern shrimp value chain is analysed using a Vector Auto Regressive model in Error Correction form. Cointegration, the Law of One Price (LOP) and weak exogeneity are tested. The results reveal linkages from Greenlandic and Canadian exports, via Denmark to the final consumers in Denmark and United Kingdom. The LOP was rejected in all cases. Hence, price transmission exists, but it is imperfect. ... Article in Journal/Newspaper greenlandic Newfoundland northern shrimp University of Copenhagen: Research Marine Policy 93 71 79 |
institution |
Open Polar |
collection |
University of Copenhagen: Research |
op_collection_id |
ftcopenhagenunip |
language |
English |
topic |
Cointegration Impulse-response function Law of One Price Price transmission Weak exogeneity |
spellingShingle |
Cointegration Impulse-response function Law of One Price Price transmission Weak exogeneity Nielsen, Max Ankamah-Yeboah, Isaac Staahl, Lisa Nielsen, Rasmus Price transmission in the trans-atlantic northern shrimp value chain |
topic_facet |
Cointegration Impulse-response function Law of One Price Price transmission Weak exogeneity |
description |
Recent research has found that markets for farmed shrimp and wild-caught northern shrimp in Europe are integrated, indicating that northern shrimp prices are affected by total supply and demand of shrimp. Thus, the continued growth of global aquaculture production and associated price decline affect northern shrimp fisheries. In this paper, price transmission in the trans-Atlantic northern shrimp value chain is analysed using a Vector Auto Regressive model in Error Correction form. Cointegration, the Law of One Price (LOP) and weak exogeneity are tested. The results reveal linkages from Greenlandic and Canadian exports, via Denmark to the final consumers in Denmark and United Kingdom. The LOP was rejected in all cases. Hence, price transmission exists, but it is imperfect. Peeled shrimp is further found to be subject to downstream market leadership, while impulse-response functions identify mixed responses, with downstream market leadership being the dominant characteristic. Growth in shrimp aquaculture, ceteris paribus, presses northern shrimp fishermen, the Greenlandic economy and local economies at Newfoundland through price reductions. As such, fisheries and their management must continuously improve efficiency to stay competitive. Recent research has found that markets for farmed shrimp and wild-caught northern shrimp in Europe are integrated, indicating that northern shrimp prices are affected by total supply and demand of shrimp. Thus, the continued growth of global aquaculture production and associated price decline affect northern shrimp fisheries. In this paper, price transmission in the trans-Atlantic northern shrimp value chain is analysed using a Vector Auto Regressive model in Error Correction form. Cointegration, the Law of One Price (LOP) and weak exogeneity are tested. The results reveal linkages from Greenlandic and Canadian exports, via Denmark to the final consumers in Denmark and United Kingdom. The LOP was rejected in all cases. Hence, price transmission exists, but it is imperfect. ... |
format |
Article in Journal/Newspaper |
author |
Nielsen, Max Ankamah-Yeboah, Isaac Staahl, Lisa Nielsen, Rasmus |
author_facet |
Nielsen, Max Ankamah-Yeboah, Isaac Staahl, Lisa Nielsen, Rasmus |
author_sort |
Nielsen, Max |
title |
Price transmission in the trans-atlantic northern shrimp value chain |
title_short |
Price transmission in the trans-atlantic northern shrimp value chain |
title_full |
Price transmission in the trans-atlantic northern shrimp value chain |
title_fullStr |
Price transmission in the trans-atlantic northern shrimp value chain |
title_full_unstemmed |
Price transmission in the trans-atlantic northern shrimp value chain |
title_sort |
price transmission in the trans-atlantic northern shrimp value chain |
publishDate |
2018 |
url |
https://curis.ku.dk/portal/da/publications/price-transmission-in-the-transatlantic-northern-shrimp-value-chain(68047487-a00c-4797-a83d-1b583d5bd3a1).html https://doi.org/10.1016/j.marpol.2018.04.002 |
genre |
greenlandic Newfoundland northern shrimp |
genre_facet |
greenlandic Newfoundland northern shrimp |
op_source |
Nielsen , M , Ankamah-Yeboah , I , Staahl , L & Nielsen , R 2018 , ' Price transmission in the trans-atlantic northern shrimp value chain ' , Marine Policy , vol. 93 , pp. 71-79 . https://doi.org/10.1016/j.marpol.2018.04.002 |
op_rights |
info:eu-repo/semantics/closedAccess |
op_doi |
https://doi.org/10.1016/j.marpol.2018.04.002 |
container_title |
Marine Policy |
container_volume |
93 |
container_start_page |
71 |
op_container_end_page |
79 |
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1801376363941199872 |