THE IMPACT OF PETROLEUM PRICES ON VEGETABLE OILS PRICES: EVIDENCE FROM COINTEGRATION TESTS

This paper investigate the long-term relationship between the petroleum and vegetable oils prices represented by palm, soybean, sunflower and rapeseed oils prices. To that end, the bivariate cointegration approach using Engle-Granger two-stage estimation procedure is applied. The study utilises monthly data over the period of January 1983 through March 2008. The results provide a strong evidence of long-run equilibrium relation between the two products prices. The estimates of the error correction models reveal a unidirectional long-run causality flowing from petroleum to each of the vegetable oils prices under study.Vegetable oils prices, petroleum prices, cointegration, causality tests, Agribusiness, Demand and Price Analysis, Marketing, Q11 Agricultural Prices,

Freedom of Expression in Cyberspace: A Study on the Acceptance of Applying Cyber Laws in the Msc Flagship Applications by Law and Communication Professionals

This study deals with the acceptance of applying cyber laws in the MSC flagship applications by law and communication professionals. It aims at assessing whether the provision of freedom of expression in the Multimedia Super Corridor (MSC) facilitates its flagship applications. determining the extent to which it should be exercised in light of the right to reputation. the right to privacy and the right to decency. comparing the views of the targeted professionals regarding the study issues as well as determining the relationships between selected demographic characteristics and freedom of expression for the facilitation of MSC. freedom of expression and the right to reputation. freedom of expression and the right to privacy and freedom of expression and the right to decency. Data for the study was collected through a self-administered questionnaire developed by the researcher distributed to respondents consisted of law and communication professionals in the Klang Valley area of Malaysia. Two hundred and forty professionals answered the questionnaire. Data collection was conducted during August and September 1999. It is revealed that freedom of expression is favoured for the facilitation of the flagship applications of the MSC, where the responses were very high in this respect. On the other hand, respondents showed concern about other rights. They showed concern about their right to reputation not to be defamed, their right to privacy not to be invaded and their right to decent materials not to be deprived from. Thus they favoured the balancing approach that should be made by the law. As such, the researcher recommended that there should be official efforts toward the awareness of law and communication professionals of the MSC and its applications and objectives. Also, he recommended that the current cyber laws should be amended so as the users will be secured of their reputation, the privacy of the information they provide in the implementation of a certain flagship application and the decency. In addition, he recommended that future formulation of the law should consult those with expertise

The impact of petroleum prices on vegetable oils prices: evidence from co-integration tests

The prices of petroleum and vegetable oils appear to be moving in tandem, a trend which was not observed before. This study seeks to investigate the long-term relationship between the prices of crude oil and selected vegetable oils. To that end, the bivariate co-integration approach using the Engle-Granger two-stage estimation procedure was applied. The study utilized monthly data over the period of January 1983 through March 2008. The results provide strong evidence of a long-run relationship between the two product prices

An econometric analysis of the link between biodiesel demand and Malaysian palm oil market

The objective of this study is to describe the important factors affecting Malaysian palm oil industry especially biodiesel demand. To that end a market model representing palm oil production, import, world excess demand, domestic consumption, export demand, rest of the world excess supply and palm oil prices is formulated.A system of equations of eight structural equations and four identities is estimated by two stage least squares method using annual data for the period 1976-2008.The domestic price equation is formed to investigate the link between biodiesel demand and the Malaysian palm oil market. The domestic price is significantly affected by Malaysian ending stock, world palm oil price, biodiesel demand and lagged domestic price. The elasticity of Malaysian palm oil domestic price with respect to biodiesel demand is then obtained. Results suggest that biodiesel demand has a positive impact on the Malaysian palm oil domestic price. Thus, significant growth in biodiesel demand is important in explaining Malaysian palm oil price determination