Non-market Factors Affecting Price Volatility of Traditional Chinese Medicine Resources and Governance Mechanisms to Address Them
Science Journal of Public Health
Volume 4, Issue 3, May 2016, Pages: 183-190
Received: May 3, 2016; Published: May 4, 2016
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Authors
Shen Yuan, School of Applied Mathematics, Nanjing University of Finance & Economics, Nanjing, China
Shen Jun-long, Management College of Economics and Trade, Nanjing University of Chinese Medicine, Nanjing, China
Zhang Hai-bo, Management College of Economics and Trade, Nanjing University of Chinese Medicine, Nanjing, China
Yuan Pan, Management College of Economics and Trade, Nanjing University of Chinese Medicine, Nanjing, China
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Abstract
In recent years, prices of traditional Chinese medicine (TCM) resources have undergone abnormal fluctuations due to intense volatility. It is believed that there are special reasons behind these fluctuations. The prices of TCM resources should be set with regard to market equilibrium. A survey of nearly 15 years’ worth of data shows that non-market factors, namely social factors, are the main reasons for the price fluctuations of Chinese herbal medicines. This paper explores these factors and suggests reasonable control strategies to help stabilize the prices of TCM resources.
Keywords
Traditional Chinese Medicine, Price Fluctuation, Non-market Factors, Governance Mechanisms
To cite this article
Shen Yuan, Shen Jun-long, Zhang Hai-bo, Yuan Pan, Non-market Factors Affecting Price Volatility of Traditional Chinese Medicine Resources and Governance Mechanisms to Address Them, Science Journal of Public Health. Vol. 4, No. 3, 2016, pp. 183-190. doi: 10.11648/j.sjph.20160403.15
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