Globalisation of the World's Wine Markets
AbstractGlobalization is not new to the worldâs wine markets, but its influence over the past decade or so has increased dramatically. This Paper reviews the effects of that on both the Old World and New World. In focusing retrospectively on the period since the late 1980s, it points to the dramatic increase in the industryâs export orientation and quality upgrading in the New World and the consequent competitive pressure on the Old World in key import markets. Looking forward, the Paper draws on a new model of the worldâs wine markets that distinguishes non-premium, commercial premium and super-plus premium wines in each of 47 countries or country groups spanning the world. It projects recent developments to 2005, based on income, population and taste trends on the demand side and vine acreage and productivity trends on the supply side of each market. The effect of a slowdown in the global economy in the medium term is also considered. The results expose numerous implications of recent and prospective developments on key wine-exporting regions.
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal The World Economy.
Volume (Year): 26 (2003)
Issue (Month): 5 (05)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0378-5920
Other versions of this item:
- C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
- F15 - International Economics - - Trade - - - Economic Integration
- F17 - International Economics - - Trade - - - Trade Forecasting and Simulation
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