Analysis of Thai rice model
1992
Rosada Vesdapunt | Kiatichai Vesdapunt (Kasetsart Univ., Bangkok (Thailand). Faculty of Economics. Dept. of Economics)
Study found that the elasticity of planted area with respect to the lagged farm gate prices was 0.11. The elasticity of yield with respect to farm gate prices and fertilizer price (21-0-0) were 0.08 and 0.05 respectively. The elasticities of domestic rice consumption with respect to wholesale prices (white rice 100 percent) deflated by consumer price index of all commodities and with respect to national income deflated by consumer price index of all commodities were 0.09 and 0.26 respectively. The elasticity of Thai rice export with respect to the F.O.B. export prices of Thai rice (white rice 100 percent) deflated by Thai consumer price index of all commodities was 0.19. The result of the goodness of fit test was acceptable and satisfactory. The model was used to examine the effect of increase in export of Thai rice competitors by 0.6 percent. The planted area, yield, domestic rice consumption and Thai rice export would change substantially, by -0.11, -0.05, +0.16 and -0.16 percents respectively. But in cases of wholesale prices farm gate prices and export prices would change significantly by -0.77, -0.74 and -0.96 percents respectively.
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