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Non-market Factors Affecting Price Volatility of Traditional Chinese Medicine Resources and Governance Mechanisms to Address Them

Received: 3 May 2016     Published: 4 May 2016
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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.

Published in Science Journal of Public Health (Volume 4, Issue 3)
DOI 10.11648/j.sjph.20160403.15
Page(s) 183-190
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2016. Published by Science Publishing Group

Keywords

Traditional Chinese Medicine, Price Fluctuation, Non-market Factors, Governance Mechanisms

References
[1] Chen Hui, Wang Huo-wang. Reflections on Chinese herbal medicines price control regulation policy [J]. Price supervision and inspection in China. 2013(1): 42-44.
[2] Zhao Huan, Qu Kai-yue, Li You-xin. Analysis and prevention on market risk of Chinese medicinal materials based on “cobweb model” [J]. Chinese Traditional and Herbal Drugs, 2013, 44(2): 238-240.
[3] Wang Yong-jie. Minxian county angelica price change Reasons and Countermeasure [J]. Agricultural Science and Technology. 2008, 01: 44.
[4] Ren Chang-qiu. Causes and Effects of Chinese herbal medicines price changes [J]. People's Tribune. 2011(2): 142-143.
[5] Wan renfu, Xu weiya, Wang shaojun, Ouyang hui, Li yujiao, Gong qianfeng, Yang shilin. Discussion on the Strategy for Development of Authentic Medicinal Herbs [J]. China Pharmacy 2007. 18(9): 641-643.
[6] Sun xue-ting, Li lei, Long guang-qiang, Zhang guang-hui, Meng zhen-gui, Yang sheng-chao, Chen jun-wen, The progress and prospect on consecutive monoculture problems of Panax notoginseng. [J] Chinese Journal of Ecology 2015, 34(3): 885-893
[7] Hu fang, A brief discussion on the traditional methods of identifying traditional Chinese Medicine [J] Lishizhen Medicineand Materia Medica Research. 2006. 17(10).
[8] Li Qiang, Du Si-miao, Zhang Zhong-liang, Lv Chun-ming, Zhou Yong-quan, Zhao Yan, Zhang Ning. Progress in fingerprint technology on Chinese materia medica and prospect of its future development [J]. Chinese Traditional and Herbal Drugs, 2013, 44(22): 3095-3104.
[9] Xiao Xiao-he, Wang Jia-bo, Yan Dan, Lv yang. Establishment of Dao-Di index and its significance in quality control and rational usage of Chinese medicine [J]. China Journal of Chinese Materia Medica, 2012, 37(11): 1513-1516.
[10] Zhao Yong-sheng, Zhou Ya-xing, He Wei, Zha Yun-sheng. Protection and exploitation of rare and endangered medicinal materials in Nu Jiang Zhou [J]. Chinese Journal of Ethnomedicine and Ethnopharmacy. 2005, 14(6): 350-354.
[11] Zhang Wen-sheng, Wang Li-yang. Geoherbs correlation with environmental factors [A]. China research and promotion of TCM, 2003.
Cite This Article
  • APA Style

    Shen Yuan, Shen Jun-long, Zhang Hai-bo, Yuan Pan. (2016). Non-market Factors Affecting Price Volatility of Traditional Chinese Medicine Resources and Governance Mechanisms to Address Them. Science Journal of Public Health, 4(3), 183-190. https://doi.org/10.11648/j.sjph.20160403.15

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    ACS Style

    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. Sci. J. Public Health 2016, 4(3), 183-190. doi: 10.11648/j.sjph.20160403.15

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    AMA Style

    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. Sci J Public Health. 2016;4(3):183-190. doi: 10.11648/j.sjph.20160403.15

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  • @article{10.11648/j.sjph.20160403.15,
      author = {Shen Yuan and Shen Jun-long and Zhang Hai-bo and Yuan Pan},
      title = {Non-market Factors Affecting Price Volatility of Traditional Chinese Medicine Resources and Governance Mechanisms to Address Them},
      journal = {Science Journal of Public Health},
      volume = {4},
      number = {3},
      pages = {183-190},
      doi = {10.11648/j.sjph.20160403.15},
      url = {https://doi.org/10.11648/j.sjph.20160403.15},
      eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.sjph.20160403.15},
      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.},
     year = {2016}
    }
    

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    T1  - Non-market Factors Affecting Price Volatility of Traditional Chinese Medicine Resources and Governance Mechanisms to Address Them
    AU  - Shen Yuan
    AU  - Shen Jun-long
    AU  - Zhang Hai-bo
    AU  - Yuan Pan
    Y1  - 2016/05/04
    PY  - 2016
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    DO  - 10.11648/j.sjph.20160403.15
    T2  - Science Journal of Public Health
    JF  - Science Journal of Public Health
    JO  - Science Journal of Public Health
    SP  - 183
    EP  - 190
    PB  - Science Publishing Group
    SN  - 2328-7950
    UR  - https://doi.org/10.11648/j.sjph.20160403.15
    AB  - 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.
    VL  - 4
    IS  - 3
    ER  - 

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Author Information
  • School of Applied Mathematics, Nanjing University of Finance & Economics, Nanjing, China

  • Management College of Economics and Trade, Nanjing University of Chinese Medicine, Nanjing, China

  • Management College of Economics and Trade, Nanjing University of Chinese Medicine, Nanjing, China

  • Management College of Economics and Trade, Nanjing University of Chinese Medicine, Nanjing, China

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