IDEAS home Printed from https://ideas.repec.org/a/zbw/espost/268684.html
   My bibliography  Save this article

Heterogeneous impact of price spikes across countries and supply chain actors: An evidence from Central Asia and the Caucasus. A review

Author

Listed:
  • Bobojonov, Ihtiyor
  • Duric, Ivan
  • Glauben, Thomas

Abstract

The causes of food price spikes are complex, and their impact on different countries varies depending on production levels and the varied policies in place. Countries in Central Asia and the Caucasus (CAC) region have implemented a wide range of reforms that vary in form and speed. The existing scientific literature reports about the consequences of price spikes in CAC; however, to date, a comparison of impact between those countries has not been made in terms of the entire supply chain perspective. Therefore, this study investigates the impact of the price spikes on the entire wheat supply chain for the first time in CAC and discusses the role of policies. Another contribution of this study is an evidence-based analysis of the role of policy reformation in maintaining food security under price shocks. Our results indicate a very limited effect of price interventions and trade restrictions on dampening wheat prices in all countries. We find that only trade diversification policy had a positive effect on reducing the level of price spikes, and thus it might be a suitable policy measure for maintaining food security.

Suggested Citation

  • Bobojonov, Ihtiyor & Duric, Ivan & Glauben, Thomas, 2020. "Heterogeneous impact of price spikes across countries and supply chain actors: An evidence from Central Asia and the Caucasus. A review," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 66(2), pages 92-100.
    • Handle: RePEc:zbw:espost:268684
    DOI: 10.17221/130/2019-AGRICECON
    as

    Download full text from publisher

    File URL: https://www.econstor.eu/bitstream/10419/268684/1/Bobojonov_2020_impact_price_spikes.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.17221/130/2019-AGRICECON?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Burstein, Ariel & Gopinath, Gita, 2014. "International Prices and Exchange Rates," Handbook of International Economics, in: Gopinath, G. & Helpman, . & Rogoff, K. (ed.), Handbook of International Economics, edition 1, volume 4, chapter 0, pages 391-451, Elsevier.
    2. Kym Anderson & Maros Ivanic & William J. Martin, 2014. "Food Price Spikes, Price Insulation, and Poverty," NBER Chapters, in: The Economics of Food Price Volatility, pages 311-339, National Bureau of Economic Research, Inc.
    3. Kateryna Goychuk & William H. Meyers, 2014. "Black Sea and World Wheat Market Price Integration Analysis," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 62(2), pages 245-261, June.
    4. Rathmann, Régis & Szklo, Alexandre & Schaeffer, Roberto, 2010. "Land use competition for production of food and liquid biofuels: An analysis of the arguments in the current debate," Renewable Energy, Elsevier, vol. 35(1), pages 14-22.
    5. Svanidze, Miranda & Götz, Linde & Djuric, Ivan & Glauben, Thomas, 2019. "Food security and the functioning of wheat markets in Eurasia: a comparative price transmission analysis for the countries of Central Asia and the South Caucasus," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 11(3), pages 733-752.
    6. repec:zbw:iamodp:285032 is not listed on IDEAS
    7. Gopinath, G. & Helpman, . & Rogoff, K. (ed.), 2014. "Handbook of International Economics," Handbook of International Economics, Elsevier, edition 1, volume 4, number 4.
    8. Akramov, Kamiljon T. & Shreedhar, Ganga, 2012. "Economic development, external shocks, and food security in Tajikistan:," IFPRI discussion papers 1163, International Food Policy Research Institute (IFPRI).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ihtiyor Bobojonov & Ivan Duric & Thomas Glauben, 2020. "Heterogeneous impact of price spikes across countries and supply chain actors: An evidence from Central Asia and the Caucasus. A review," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 66(2), pages 92-100.
    2. Dvir, Eyal & Strasser, Georg, 2018. "Does marketing widen borders? Cross-country price dispersion in the European car market," Journal of International Economics, Elsevier, vol. 112(C), pages 134-149.
    3. Corbo, Vesna & Di Casola, Paola, 2018. "Conditional exchange rate pass-through: evidence from Sweden," Working Paper Series 352, Sveriges Riksbank (Central Bank of Sweden).
    4. Castellares, Renzo & Toma, Hiroshi, 2020. "Effects of a mandatory local currency pricing law on the exchange rate pass-through," Journal of International Money and Finance, Elsevier, vol. 106(C).
    5. Siklos, Pierre L., 2018. "Boom-and-bust cycles in emerging markets: How important is the exchange rate?," Journal of Macroeconomics, Elsevier, vol. 56(C), pages 172-187.
    6. Beyza Ural Marchand, 2019. "Inequality and Trade Policy: The Pro‐Poor Bias of Contemporary Trade Restrictions," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 65(S1), pages 123-152, November.
    7. Giuliano, Fernando & Luttini, Emiliano, 2020. "Import prices and invoice currency: Evidence from Chile," Journal of International Money and Finance, Elsevier, vol. 106(C).
    8. Gilchrist, Simon & Schoenle, Raphael & Sim, Jae & Zakrajšek, Egon, 2023. "Financial heterogeneity and monetary union," Journal of Monetary Economics, Elsevier, vol. 139(C), pages 21-40.
    9. García-Cicco, Javier, 2022. "Alternative monetary-policy instruments and limited credibility: An exploration," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 3(1).
    10. Laura Alfaro & Alejandro Cuñat & Harald Fadinger & Yanping Liu, 2017. "The Real Exchange Rate, Innovation and Asymmetries and Hysteresis," Harvard Business School Working Papers 18-044, Harvard Business School, revised May 2018.
    11. Holger Breinlich & Elsa Leromain & Dennis Novy & Thomas Sampson, 2019. "Exchange Rates and Consumer Prices: Evidence from Brexit," CESifo Working Paper Series 8001, CESifo.
    12. Chahrour, Ryan & Stevens, Luminita, 2020. "Price dispersion and the border effect," Journal of Monetary Economics, Elsevier, vol. 116(C), pages 135-146.
    13. Tscheke, Jan, 2016. "Operational Hedging of Exchange Rate Risks," Discussion Papers in Economics 30227, University of Munich, Department of Economics.
    14. Bakker, Jan David & Datta, Nikhil & Davies, Richard & De Lyon, Josh, 2023. "Brexit and consumer food prices," The Warwick Economics Research Paper Series (TWERPS) 1461, University of Warwick, Department of Economics.
    15. Gita Gopinath & Emine Boz & Camila Casas & Federico J. Díez & Pierre-Olivier Gourinchas & Mikkel Plagborg-Møller, 2020. "Dominant Currency Paradigm," American Economic Review, American Economic Association, vol. 110(3), pages 677-719, March.
    16. Victor Lyonnet & Julien Martin & Isabelle Mejean, 2022. "Invoicing Currency and Financial Hedging," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(8), pages 2411-2444, December.
    17. García-Cicco, Javier & García-Schmidt, Mariana, 2020. "Revisiting the exchange rate pass through: A general equilibrium perspective," Journal of International Economics, Elsevier, vol. 127(C).
    18. Bernabe Lopez‐Martin, 2022. "Firm Export Dynamics And The Exchange Rate: A Quantitative Exploration," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 63(3), pages 1137-1163, August.
    19. Yan Carrière-Swallow & Bertrand Gruss & Nicolas E. Magud & Fabián Valencia, 2021. "Monetary Policy Credibility and Exchange Rate Pass-Through," International Journal of Central Banking, International Journal of Central Banking, vol. 17(3), pages 61-94, September.
    20. Messner, Teresa & Rumler, Fabio & Strasser, Georg, 2022. "Cross-country price and inflation dispersion: Retail network or national border," Single Market Economics Papers WP2022/11, Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs (European Commission), Chief Economist Team.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zbw:espost:268684. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: https://edirc.repec.org/data/zbwkide.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.