Beschreibung:
<jats:p>We estimate source‐differentiated wine demand in <jats:styled-content style="fixed-case">C</jats:styled-content>hina using the absolute price version of the <jats:styled-content style="fixed-case">R</jats:styled-content>otterdam demand system. Within the last decade, <jats:styled-content style="fixed-case">C</jats:styled-content>hina has gone from obscurity to an important participant in global wine trade. The continual growth of <jats:styled-content style="fixed-case">C</jats:styled-content>hinese wine imports suggests that a one‐time structural shift approach may not fully capture how consumption patterns or demand preferences have changed over time. Thus, a rolling or moving regression procedure is used to account for continual adjustments in import demand patterns and to evaluate overall parameter instability. Our results confirm that <jats:styled-content style="fixed-case">C</jats:styled-content>hinese consumers hold <jats:styled-content style="fixed-case">F</jats:styled-content>rench wine in high regard and that <jats:styled-content style="fixed-case">F</jats:styled-content>rench wine demand has consistently increased over the last decade, more than any other exporting source. Consumers in <jats:styled-content style="fixed-case">C</jats:styled-content>hina have gone from allocating about 1/3 to over 1/2 of every dollar to <jats:styled-content style="fixed-case">F</jats:styled-content>rench wine and the expenditure elasticity for French wine mostly increased while the market was expanding. Although <jats:styled-content style="fixed-case">A</jats:styled-content>ustralian wine has a very solid standing in the <jats:styled-content style="fixed-case">C</jats:styled-content>hinese market, results suggest that its market share will likely remain unchanged. Marginal budget share and expenditure elasticity estimates indicate that <jats:styled-content style="fixed-case">A</jats:styled-content>ustralia will continue to account for about 20 per cent of the foreign wine market in <jats:styled-content style="fixed-case">C</jats:styled-content>hina.</jats:p>