Analysis of Factors That Influence Agricultural Trade between China and Mongolia
Journal Title: Journal of Economics, Finance and Management Studies - Year 2021, Vol 4, Issue 05
Abstract
Mongolia-China trade turnover has increased 250 times in 28 years. The two countries formally established diplomatic relations on October 16, 1949, which has now expanded to the level of a comprehensive strategic partnership. This paper seeks to study and analyse the factors that influence agricultural product trade between China and Mongolia and give recommendations which can create new possibilities for the expansion of bilateral agricultural trade that were established in 2014. We use Comparative analysis and apply factor regression analysis methods of econometrics and Revealed Comparative Advantage Index (RCA index) of the factors affecting the trade of agricultural products between China and Mongolia were analyzed. Our results show that the development of China-Mongolia agricultural trade is faster than the overall development of China’s agricultural product trade, the average annual growth rate from 2001 to 2018 of China-Mongolia agricultural trade is 17.1%, which is 4.3% higher than the average annual growth rate of China’s total agricultural trade, average annual growth rate of agricultural 26 import from Mongolia is 5.7% higher than the overall increase of China's agricultural imports, average annual increase of agricultural exports to Mongolia is 2.2% higher than the overall increase of China's agricultural exports, agricultural product trade is highly complementary, RCA index shows that China's livestock products industry used have a 28 very strong comparative advantage in live animals, China's live animals competitive comparative advantage has continued to decrease and the index result has fallen below 1 and Chinese pay more attention to the quality and safety of agricultural products. We make policy recommendations for promoting the development of agricultural trade between China and Mongolia and provide reference for the study of agricultural trade between China and Mongolia.
Authors and Affiliations
Tumenjargal Zagdaakhuu，Sikamwaya Ray Munachoonga , Chen Hongsen , Gao Li , Zhao Guiyu
Keywords
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- EP ID EP695068
- DOI https://doi.org/10.47191/jefms/v4-i5-29
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