The Rice Economy of Thailand: Supply, Demand and Price
Vanichjakvong, Phongpat
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https://hdl.handle.net/2142/85523
Description
Title
The Rice Economy of Thailand: Supply, Demand and Price
Author(s)
Vanichjakvong, Phongpat
Issue Date
2002
Doctoral Committee Chair(s)
Rashid, Salim
Department of Study
Economics
Discipline
Economics
Degree Granting Institution
University of Illinois at Urbana-Champaign
Degree Name
Ph.D.
Degree Level
Dissertation
Keyword(s)
Economics, Agricultural
Language
eng
Abstract
The third objective is to examine the rice consumption decisions of rice producing households through an agricultural household model, after recognizing the characteristics of rice households as both producers and consumers. The Cobb-Douglas production function is used for production decisions, while the linear expenditure system and the linear logarithmic expenditure system are the basis for consumption patterns. Results from the consumption models indicate the elasticity of rice consumption of rice households is -0.640. After integrating production and consumption behaviors, the integrated elasticity of rice consumption becomes 0.345. The analysis shows that an intervention in rice price causes increased marketed outputs, and a rise in household total expenditure.
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