Modelling the Relationship between Black Pepper Price and its Determinants for Half a Century Period using Panel Quantile Regression
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Abstract
This study intends to test the relationship between black pepper price and its determinants in the international market. Area harvested, production of pepper, yield of pepper, export of pepper, consumption of pepper and inflation are taken as the determinants of black pepper price in this study, based on the review of previous literature. The researchers have used panel quantile regression for investigating the relationship between the variables and thus ensured the uniqueness of the study. The study revealed that the variables, area, production, yield and export are significant predictors of pepper price in all the countries, while consumption cannot be considered as a significant determinant of pepper price. This study contributes to the literature on agricultural economics and specifically on black pepper pricing, as there are very few studies conducted in this field. This study provides primary evidence of non-economic factors influencing commodity prices in the international market.
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