Factors Constraining Efficiency of Russian Corporate Farms: The Case of the Moscow Region
AbstractA time series model is estimated to identify the interrelation among prices on the international and the EU domestic market for butter. Although the findings were not derived from a causal model, the inspection of the data provides economically reasonable and important insights in structural relationship between international and domestic prices. The fact that international prices in the EU and Oceania are causal for each other is an indication of an integrated market. Price transmission is not perfect suggesting that competition between the EU and Oceania exists, however, but not as intense as it could be expected for a homogeneous good like butter. The estimates provide that the EU absorbs price fluctuations form the word market. Interestingly, changes of prices in Oceania have no impact on the domestic EU market. Fluctuations of the EU world market prices, on the other hand, are absorbed to a large extent. One explanation is the inappropriate fixing export refunds.
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Bibliographic InfoPaper provided by International Association of Agricultural Economists in its series 2006 Annual Meeting, August 12-18, 2006, Queensland, Australia with number 25439.
Date of creation: 2006
Date of revision:
dairy market; international trade; market integration; Agribusiness; Productivity Analysis; F15; Q13; Q17;
Find related papers by JEL classification:
- F15 - International Economics - - Trade - - - Economic Integration
- Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
- Q17 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agriculture in International Trade
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