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The Effect Of Exchange Rate Volatility On Wheat Trade Worldwide


  • Sun, Changyou
  • Kim, Mina
  • Koo, Won W.
  • Cho, Guedae
  • Jin, Hyun Joung


A modified gravity-type model was employed to evaluate the effect of exchange rate volatility on wheat exports worldwide. Special attention was given to the econometric properties of the gravity model within panel framework. Short and long-term measures of exchange rate volatility were constructed and compared. Both measures of exchange rate volatility have exhibited a negative effect on world wheat trade and the long-term effect was even larger. This result implies that exchange rate volatility is an important factor in explaining the trade pattern of wheat trade worldwide. Keywords: wheat, export, exchange rate, volatility, gravity model, and panel data.

Suggested Citation

  • Sun, Changyou & Kim, Mina & Koo, Won W. & Cho, Guedae & Jin, Hyun Joung, 2002. "The Effect Of Exchange Rate Volatility On Wheat Trade Worldwide," 2002 Annual meeting, July 28-31, Long Beach, CA 19766, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  • Handle: RePEc:ags:aaea02:19766

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    Cited by:

    1. Ferto, Imre & Fogarasi, Jozsef, 2011. "On Trade Impact of Exchange Rate Volatility and Institutional Quality: The Case of Central European Countries," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 114351, European Association of Agricultural Economists.
    2. Molina, Imelda R. & Mohanty, Samarendu & Pede, Valerien O. & Valera, Harold Glenn A., 2013. "Modeling the Effects of Exchange Rate Volatility on Thai Rice Exports," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 150429, Agricultural and Applied Economics Association.
    3. David Karemera & Shunsuke Managi & Lucy Reuben & Ora Spann, 2011. "The impacts of exchange rate volatility on vegetable trade flows," Applied Economics, Taylor & Francis Journals, vol. 43(13), pages 1607-1616.
    4. Kodongo, Odongo & Ojah, Kalu, 2014. "Conditional pricing of currency risk in Africa's equity markets," Emerging Markets Review, Elsevier, vol. 21(C), pages 133-155.
    5. Imamverdiyev, Nizami & Anders, Sven & Glauben, Thomas & Perekhozhuk, Oleksandr & Prehn, Soren, 2015. "Determinants of Trade Duration of Kazakhstan's Wheat Exports," 2015 Conference, August 9-14, 2015, Milan, Italy 211788, International Association of Agricultural Economists.
    6. Zhang, Qiang & Reed, Michael R., 2006. "The Impact of Multiple Volatilities on Import Demand for U.S. Grain: The Case of Soybeans," 2006 Annual meeting, July 23-26, Long Beach, CA 21079, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).


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