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Summary

The Great Qing Empire (1644–1912) was the most populous political entity that had yet existed on the landmass that we now refer to as “China,” and its economy was possibly one of the most developed. But by the first several decades of the nineteenth century, the Jiaqing and early Daoguang reigns, there had emerged a general consensus among elites both in and out of government that the empire was facing a multifaceted and potentially catastrophic crisis of the economy, polity, and society. By this point the Qing had already begun to be significantly incorporated into the early modern world economy, although it had not yet experienced, as it very shortly would, military conflict with the West and the invasion by Western agents of economic and cultural change that would follow in its wake.

Asian countries consume approximately 90% of the world’s rice supply. Between 2007 and 2014, Thailand, Vietnam, and India accounted for 60% of the world’s exports of rice. A nonlinear autoregressive distributed lag (NARDL) econometric model is utilized to estimate the impact of exchange rate fluctuations on rice trade in Southeast Asia. Focusing on the largest importing countries and exporting country by volume, the analysis considers Malaysian, Indonesian, the Philippines, and Chinese rice imports from Thailand. Results show that importing countries’ state trading enterprises (STEs) generally do not follow profit-maximizing behavior in reacting to exchange rate volatility.

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2 - Economic Transition in the Nineteenth Century

Summary

Asymmetric Exchange Rate Pass-Through in Southeast Asian Rice Trade

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2 results

2 - Economic Transition in the Nineteenth Century

Summary

Asymmetric Exchange Rate Pass-Through in Southeast Asian Rice Trade