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Evaluation of the Common Agricultural Policy’s Impact upon Inflation Rate in Central, Eastern and Southern Europe Countries

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  • Ovidiu Stoica

    (University of Iasi, Romania.)

  • Monica Damian

    (University of Iasi, Romania.)

Abstract

The goal of this paper is to estimate the inflationary effect of adoption of the Common Agricultural Policy in countries which joined the European Union in 2004, using two approaches. The first one supposes the comparison of consumer food prices before (May-December 2001-2003 and January – April 2002-2004) and after joining the European Union (May – December 2004 and January – April 2005), in all ten states. The second approach consist in the application of a multifactorial regression model for the period 2003-2010 in six countries: the Czech Republic, Hungary, Latvia, Lithuania, Slovakia and Slovenia. The results of the study shows that, contrary to the usual perception, the influence of the agricultural products prices on the food price and, implicitly, on the consumer prices have been relatively low in all the analysed countries, in some countries being counterbalanced by the appreciation of the national currency and the elimination of import custom duties.

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Bibliographic Info

Article provided by Econjournals in its journal International Journal of Economics and Financial Issues.

Volume (Year): 3 (2013)
Issue (Month): 1 ()
Pages: 229-236

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Handle: RePEc:eco:journ1:2013-01-23

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Related research

Keywords: EU Accession; Inflation Rate; Common Agricultural Policy; Food Prices;

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References

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  1. Frank H. Fuller & John C. Beghin & Jacinto F. Fabiosa & Samarendu Mohanty & Cheng Fang & Phillip Kaus, 2000. "Accession of the Czech Republic, Hungary, and Poland to the European Union: Impacts on Agricultural Markets," Center for Agricultural and Rural Development (CARD) Publications 00-wp259, Center for Agricultural and Rural Development (CARD) at Iowa State University.
  2. Ignazio Angeloni & Michael Flad & Francesco Paolo Mongelli, 2005. "Economic and monetary integration of the new Member States - helping to chart the route," Occasional Paper Series 36, European Central Bank.
  3. Fabiosa, Jacinto F. & Beghin, John C. & Dong, Fengxia & Elobeid, Amani E. & Fuller, Frank H. & Matthey, Holger & Tokgoz, Simla & Wailes, Eric J., 2006. "The Impact of the European Enlargement and Common Agricultural Policy Reforms on Agricultural Markets: Much Ado about Nothing?," 2006 Conference (50th), February 8-10, 2006, Sydney, Australia, Australian Agricultural and Resource Economics Society 139726, Australian Agricultural and Resource Economics Society.
  4. Georgakopoulos, Theodore A, 1990. "The Impact of Accession on Food Prices, Inflation and Food Consumption in Greece," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 17(4), pages 485-93.
  5. Jacinto F. Fabiosa & John C. Beghin & Fengxia Dong & Amani Elobeid & Frank H. Fuller & Holger Matthey & Simla Tokgoz & Eric Wailes, 2005. "Impact of the European Enlargement and Common Agricultural Policy Reforms on Agricultural Markets: Much Ado about Nothing? The," Food and Agricultural Policy Research Institute (FAPRI) Publications, Food and Agricultural Policy Research Institute (FAPRI) at Iowa State University 05-wp382, Food and Agricultural Policy Research Institute (FAPRI) at Iowa State University.
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