A Causality Analysis of Raw Laver’s Price by Regional Production Area

초록

This paper is aimed to investigate causality relationships of laver price by production area. To this purpose, we separated the production area into three regions. One was the South-east coastal area where includes Busan and Uichang. Another was the South-west coastal area here includes Wando, Haenam and so on. The other was West where includes Seocheon, Gunsan, and Gyeonggi. After separated, we analyzed the laver’s price by production area using cointegration and VECM. As a result, we found out that three areas have causality relationships in the short and long term. Among these, the South-west area had the strongest price power, and the others obeyed it. Meanwhile, these areas were also connecting systematically by spatial distance. They were influenced by distance.

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