| Abstrak/Abstract |
The integration of the export and import market scan be reflected not only by
the relationship between the market price and its imports, but it also can be reflected by the
relationship between the market prices of imports and exports. The objective of this study is
to analyze the degree of integration of Indonesia’s natural rubber prices in the international
market. The data used in this research is secondary time series data in 1980-2013 from IRSG,
BPS, FAO, Gapkindo, UN Comtrade, BI, and the World Bank. The method of analysis using
the index of Market Connection(IMC) to measure the index of market integration between
the price of natural rubber in China, Japan, Singapore, and South Korea as a follower market
and the price of natural rubber in the reference market(market leader) in this case is the
United States. The results showed that Indonesia’s natural rubber prices in the international
market is not integrated with China, Japan, and South Korea for the short term but it may be
integrated in the long-term. The result seem to different to the Singapore that it market being
integrated with the international market both for short term and long term periods. |
