TITLE:
The Effect of Soybean Trade between China and the United States on Chinese Residents’ Consumption Expenditure—Based on 2004-2016 Trade Data
AUTHORS:
Yangyang Qi, Quanlong Qi
KEYWORDS:
Cointegration Analysis, VECM Model, Per Capita Consumer Expenditure, Impulse Response
JOURNAL NAME:
Modern Economy,
Vol.9 No.6,
June
5,
2018
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.