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Determinants analysis of grain price under financialization

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  • Fan Yaojun

Abstract

In this paper, we theoretically discussed the relationship between financial liquidity, speculation and grain price for the first time. Then we employ the structural vector auto-regression model (SVAR) to explore the impulse response of grain price to the structural shock of world grain production, demand, financial liquidity and speculation. Our empirical results show that the effects of financial liquidity and speculation on the grain price are significant. Meanwhile, grain demand changes caused by the global economy have no significant impact on grain price.

Suggested Citation

  • Fan Yaojun, 2023. "Determinants analysis of grain price under financialization," Macroeconomics and Finance in Emerging Market Economies, Taylor & Francis Journals, vol. 16(1), pages 17-31, January.
    • Handle: RePEc:taf:macfem:v:16:y:2023:i:1:p:17-31
    DOI: 10.1080/17520843.2021.1957266
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