Underlying Trends and International Price Transmission of Agricultural Commodities
AbstractThis paper examines the extent to which increases in international food prices during the past few years have been transmitted to domestic prices in selected Asian developing countries. In analyzing the historical data, evidence on price transmission for important food commodities such as rice, wheat, and edible oil have been considered. The price transmission elasticity has been estimated using regression models coupled with recent econometric techniques such as unit root tests and error correction models with threshold adjustment. Finally, the paper draws some policy implications from the empirical results. This study provides the numerical estimates on the empirical relationship between international prices and domestic prices. The analysis uses commodity-specific monthly data rather than annual data during a period of substantial policy reforms in order to understand both long-run and short-run relationships between world and domestic prices.
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Bibliographic InfoPaper provided by Asian Development Bank in its series ADB Economics Working Paper Series with number 257.
Length: 51 pages
Date of creation: May 2011
Date of revision:
Global commodity crises; International food prices; Domestic food prices; Price transmission; Commodity price trends; Agricultural commodities;
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 &bull Diffusion Processes
- Q11 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Aggregate Supply and Demand Analysis; Prices
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- John, Adam, 2013. "Price relations between export and domestic rice markets in Thailand," Food Policy, Elsevier, Elsevier, vol. 42(C), pages 48-57.
- Gotz, Linde & Qiu, Feng & Gervais, Jean-Philippe & Glauben, Thomas, 2012. "Export Restrictions And Multiple Spatial Price Equilibria When International Prices Spike: Export Quotas For Wheat In Ukraine," 2012: New Rules of Trade?, December 2012, San Diego, California, International Agricultural Trade Research Consortium 143179, International Agricultural Trade Research Consortium.
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