An Integrated Study Of The Wood Oil Trade Market In The Republic Of China

Wood oil is a kind of non-edible vegetable oil extracted from the tung tree seed and has a long history of utilization in China.In ancient Chinese society,in addition to being used as lighting,wood oil was also used in ink making,rain gear manufacturing,shipbuilding,building construction,and medicine.With the discovery of the new nature of wood oil in 1875,the extremely dry nature,it has also been used in the manufacturing industry and military industry.As a special product of China,the growing demand of the wood oil in the international market has stimulated the domestic planting of tung tree and the market supply of wood oil.By 1935,the value of wood oil exports had already ranked first in the list of Chinese export goods.As the largest producer of wood oil in China,Sichuan is favored by foreign distributors for its large output and high quality.China's wood oil production area is mostly located in the middle and upper reaches of the Yangtze River,while its foreign consumer market is located in Europe and the United States.This kind of ultra-long-distance trade is realized through the trade network.This paper divides the domestic market of wood oil trade into four levels: secondary concentrated market,main concentrated market,regional export market,international export market.Through the correlation analysis and cointegration analysis of price series,this paper finds that the integration between different levels of market is different.The market distance and the application of modern technology are important factors affecting the degree of integration of the trade market.The structure of the paper is divided into five parts.The first chapter is the introduction.It mainly introduces the research background and research significance of the paper,the scope and data,as well as the research ideas and research methods.The second chapter is the literature review of this paper.It summarizes the relevant research literature on wood oil trade and market integration in economic history,and illustrates the expansion of this paper in the literature.The third chapter describes the historical background of the wood oil trade,and the market network of wood oil trade.This chapter examines production and foreign trade of wood oil.It is convenient for us to have an objective understanding of wood oil trade,and then explain the position of Sichuan wood oil export trade in China.As this paper focuses on market integration,it is necessary to give a brief introduction to various market entities in the wood oil trade.Then this paper classifies various wood oil trade markets,and builds the trade network centered on the southeast of Sichuan and extends to the entire Yangtze River basin.The fourth chapter is the empirical part,specifically examining the degree of integration between different markets and the factors affecting the integration of the wood oil trade market.The results show that there is no unified wood oil market system within Sichuan Province;the degree of integration between export markets is significantly higher than that between centralized markets;during the Republic of China,Wanxian and Chongqing have been highly integrated with Hankou and Shanghai.After measuring the integration between different levels of market,the paper also discusses the factors affecting the degree of market integration.The empirical results show that the water distance between the markets and the application of modern technology in the wood oil trade process are the key factors affecting market integration.Finally,this paper is based on the historical case of Guizhou Anshun and Hunan Yuanling wood oil trade market,which confirms the water distance between the markets and the application of modern technology is the key factor affecting the degree of market integration.The fifth chapter is the conclusion of this article.The research results of this paper are summarized and the research prospects are made.