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Price and Exchange Rate Transmission in Russian Meat Markets

Author

Listed:
  • Stefan R Osborne

    (Economic Research Service, US Department of Agriculture, 1800 M St, NW, Room 5062, Washington, DC 20036-5831, USA.)

  • William M Liefert

    (Economic Research Service, US Department of Agriculture, 1800 M St, NW, Room 5062, Washington, DC 20036-5831, USA.)

Abstract

This paper examines transmission between changes in (a) world trade prices for meat and Russian exchange rates and (b) Russian consumer meat prices. We find that for both trade prices and the exchange rate, the transmission is low. This indicates that Russia's integration into world meat markets is poor. The economic cost to Russia of poor transmission is that at any point in time, the country is not at its optimal volumes and mix of agricultural trade that would maximise the gains from trade. The transmission estimates are therefore important for forecasting Russian agricultural production and trade. Comparative Economic Studies (2004) 46, 221–244. doi:10.1057/palgrave.ces.8100048

Suggested Citation

  • Stefan R Osborne & William M Liefert, 2004. "Price and Exchange Rate Transmission in Russian Meat Markets," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 46(2), pages 221-244, June.
    • Handle: RePEc:pal:compes:v:46:y:2004:i:2:p:221-244
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    Citations

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    Cited by:

    1. William M. Liefert, 2009. "Decomposing changes in agricultural price gaps: an application to Russia," Agricultural Economics, International Association of Agricultural Economists, vol. 40(1), pages 15-28, January.
    2. Liefert, William M., 2005. "Decomposing Changes in Agricultural Price Gaps," Working Papers 14592, International Agricultural Trade Research Consortium.
    3. Carlos Arnade & Stefan Osborne, 2004. "Measurement and Testing for Equality of Foreign Price and Consumer Price Index Transmission in Russia," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 52(1), pages 107-125, March.
    4. Daria Loginova & Judith Irek, 2022. "Russian meat price transmission and policy interventions in 2014," Agricultural and Food Economics, Springer;Italian Society of Agricultural Economics (SIDEA), vol. 10(1), pages 1-28, December.

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