Spatial Price Transmission in Kazakh Wheat Markets
AbstractReliable marketing opportunities in both interregional and international trade are an important precondition for further development of the agricultural sector. In this study we assess interregional integration of Kazakh wheat markets. We apply asymmetric threshold error correction models to assess the co-movement of elevator prices at three grain-trading spots in the northern and central parts of the country. Results suggest that markets of two northern grain-trading spots (Petropavlovsk and Kokshetau) are closely connected with each other while their connection with Karaganda in central Kazakhstan is much weaker. Here, levelling out price gaps through arbitrage trade only occurs after a threshold of considerable extent has been surpassed.
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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 25690.
Date of creation: 2006
Date of revision:
Kazakhstan; price transmission; threshold VECM; Crop Production/Industries; Demand and Price Analysis; C22; Q13;
Find related papers by JEL classification:
- C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models
- Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
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- O'Brien, Daniel M., 2009. "The Effects of the Micro-Market Structure for Kansas Grain Elevators on Spatial Grain Price Differentials," 2009 Conference, April 20-21, 2009, St. Louis, Missouri 53041, NCCC-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
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