Study on Chinese medicinal materials origin market integration--Taking Lonicerae Japonicae Flos, Lycii Fructus, Isatidis Radix and Pseudostellariae Radix for examples / 中草药

ABSTRACT

Trading volume in Chinese medicinal materials market has gradually declined, and origin market trade has become a trend. Studying the degree of market integration is helpful to understand the operation of origin market of Chinese medicinal materials, which is of great significance for rational planning of the production of Chinese medicinal materials and improving market efficiency. In this study, four varieties (Lonicerae Japonicae Flos, Lycii Fructus, Isatidis Radix and Pseudostellariae Radix) were selected to study the market integration degree of Chinese medicinal materials. Based on the price index data from 2013 to 2019, this paper makes an empirical analysis by using co-integration test, error correction model and Granger causality test. The results showed that the long-term integration of Chinese medicinal materials market was relatively high, but the short-term integration was far lower than the long-term integration. Finally, the author puts forward four policy suggestions: improving the price information platform conduction of Chinese medicinal materials, building high-quality brand of Chinese medicinal materials in non-authentic producing areas, speeding up the establishment quality traceability system and building modern logistics system of Chinese medicinal materials.