The Lack of Market Integration in the Chinese Beer and Wine Markets: Evidence from Stationarity Test

Chi Keung Lau, Zhibin Lin, David Boansi, Jie Kitt Ma

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

Prior to economic and market reforms, China was a relatively closed society in deep economic stagnation, mainly due to excessive centralized bureaucratic control, misallocation of both investments and outputs, and generally low factor productivity. The reforms introduced in the 1970s aimed at improving the country’s economic situation through reducing (but not eliminating) centralized planning and direct control in order to correct the economic deficiencies (Perkins, 1988).
Original languageEnglish
Title of host publicationBrewing, Beer and Pubs
Subtitle of host publicationA Global Perspective
EditorsIgnazio Cabras, David Higgins, David Preece
PublisherPalgrave Macmillan Ltd.
Pages123-144
Number of pages22
ISBN (Print)9781137466174
DOIs
Publication statusPublished - 23 Mar 2016
Externally publishedYes

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Lau, C. K., Lin, Z., Boansi, D., & Ma, J. K. (2016). The Lack of Market Integration in the Chinese Beer and Wine Markets: Evidence from Stationarity Test. In I. Cabras, D. Higgins, & D. Preece (Eds.), Brewing, Beer and Pubs: A Global Perspective (pp. 123-144). Palgrave Macmillan Ltd.. https://doi.org/10.1057/9781137466181_7