CO-MOVEMENT OF AGRICULTURAL RAW MATERIALS’ IMPORTS AMONG ASIAN COUNTRIES: A NOVEL MATHEMATICAL APPROACH

Abstract

Aim of the study is investigating the agricultural raw materials imports co-movements among selected Asian countries (Japan, Korea, Rep., and Malaysia). Overall Design of the study includes review of relevant literature, secondary data extraction and analysis. Data of the aforementioned variables of the refereed countries is extracted from World development indicators (WDI) for last approximately sixty years. The sample Countries have been selected on the basis of availability of the data. The method implied for analysis is “wavelet analysis”. The results of the analysis show that the three countries initially have high agricultural imports and over the period of time the agricultural imports of all the countries reduced Japan and Korea, Rep. were able to reduce to zero. Whereas Malaysia after moderate reduction in imports again gained momentum. At the same time the power spectrums of all the countries show similar patterns from 1997 onward the concentration of agricultural raw material imports of Japan and Korea even at high frequency bands remained very low in density. Whereas in the shared power of Japan and Malaysia although Japan remained leading but the pattern of Japan remains different from Malaysia. Whereas the shared power of Japan and Korea, Rep. depicted low density from 1997 onward. This result also confirms to the real scenarios. The coherence of Japan and Malaysia at high frequencies remain very low but the coherence of Japan and Korea across all the frequencies localized against all the times remained high and hot.