Open AccessEstimation Of Demand System In An Aids Model:The Opportunity For Exporting Thai Agricultural Products
Author(s) -
Waripas Jiumpanyarach
Publication year - 2012
Publication title -
european journal of business and economics
Language(s) - English
Resource type - Journals
eISSN - 1804-9699
pISSN - 1804-5839
DOI - 10.12955/ejbe.v5i0.174
Subject(s) - almost ideal demand system , estimation , agriculture , economics , agricultural economics , supply and demand , business , microeconomics , production (economics) , ecology , management , biology
This paper reports the results of the estimation of Almost Ideal Demand System(AIDS) model is developed to estimate quantity respond based on price. Five major export agricultural products data from the office of Agricultural Economics, Thailand and Biofuel policy from the office of the National Economic and Social Development Broad were used. The AIDS model estimatesdemand of palm, cassava, and sugar are highly response to changed price. Rubber and rice has less response to the changed price. All of major agricultural products are affect expenditure of Thailand export. This result suggest that the opportunity for increasing supply of energy plants, which benefits to Thai farmer communities for expanding market share in energy plants in domestic and global market.