| Promoting the integration of agricultural markets between China and ASEAN is beneficial for both parties to leverage their comparative advantages,achieve rational allocation of agricultural resources,promote the optimization of agricultural industrial structure,and improve the international competitiveness of their agricultural products.Therefore,a systematic exploration of the evolutionary patterns and influencing factors of the integration of different types of agricultural markets between China and major ASEAN countries is of great practical and theoretical significance.This not only provides important reference for promoting the integration of agricultural markets between China and ASEAN,but also enriches the literature on agricultural trade.Based on the relative prices,this study selects Vietnam,Thailand,Malaysia,and Indonesia,which have the most active agricultural product trade with China,as the research objects,and conducts a comprehensive and in-depth investigation into various factors affecting the integration process of classified agricultural markets.This article commences with a theoretical analysis,followed by the description of the characteristics of agricultural trade between China and ASEAN from the perspectives of import and export volume as well as trade structure.Next,this investigation utilizes a price-based approach to determine the degree of market integration between China and ASEAN countries with regards to agricultural products,using annual price data for 30 prominent agricultural commodities from 2001 to 2020.Furthermore,a gravity model is developed to empirically examine the factors influencing the integration of agricultural product markets between China and ASEAN.Additionally,with a focus on the micro-level,this research confirms the impact of integration factors.Firstly,an analysis of the current status and market integration of agricultural trade between China and ASEAN is presented.Despite the continued surge in agricultural trade between the two parties,spurred by the China-ASEAN Free Trade Area(CAFTA),persistent trade imbalances and a concentration of agricultural products in the market remain.In terms of market integration,the relative price sequence of agricultural products between China and ASEAN has consistently declined from 2001 to 2020,indicating a deepening trend of market integration between the two.Secondly,an empirical investigation is conducted to discern the determinants impacting agricultural market integration between China and ASEAN.The empirical findings reveal that China’s per capita income level,degree of economic openness,fluctuations in ASEAN national currency exchange rates,and urbanization rate in ASEAN nations contribute to the development of agricultural market integration between China and ASEAN to varying degrees.In contrast,China’s urbanization rate,fluctuations in the Chinese currency exchange rate,ASEAN’s per capita income level and degree of economic openness,as well as distance costs,impede agricultural market integration between China and ASEAN.Although the establishment of the China-ASEAN Free Trade Area stimulates agricultural market integration between the two parties,its impact is not significant.Thirdly,the research uncovers the heterogeneity of the factors affecting the integration of different types of agricultural product markets.Various elements,such as urbanization rate,ASEAN per capita income level,and exchange rate fluctuations,play a certain heterogeneous role in the market integration of these products.For instance,China’s remarkable increase in urbanization rate promotes the integration of the fruit market between China and ASEAN;however,it impedes the overall market integration of agricultural products,live animals,and vegetable products.The reason is that cities’ price discovery function and trade circulation function have the most robust impact on fruit products,which supports the standardization and quality development of Chinese fruit products and further deepens the integration of the fruit market between China and ASEAN.Based on the research results above,this article recommends specific policies to deepen the integration of domestic and international agricultural product markets and optimize the production and consumption market layout of agricultural products.This article proposes that optimizing infrastructure construction,maintaining economic growth,enhancing China-ASEAN agricultural cooperation,increasing industry complementarity,promoting the exchange of agricultural technology and industrial development,continuously stimulating the vitality of the China-ASEAN Free Trade Area,and ultimately integrating China and ASEAN’s agricultural product trade markets can play a vital role in maintaining food security and developing modern and efficient agriculture. |
