The application of spatial models in the analysis of bilateral trade flows: An alternative to the Armington approach for the world sugar market
This paper suggests spatial models as an alternative to the Armington approach to model bilateral trade. While the use of spatial models has been accepted for decades, they are rarely chosen for such analyses. However, problems inherent in the application of the Armington approach can be overcome through the use of spatial models. To demonstrate, a simple spatial model of the world sugar market is built and used to simulate a multilateral liberalization scenario. Additionally, an identical model is constructed, applying the Armington approach. The results of the spatial model of the sugar market are found to be more plausible than those generated by the Armington-based model.
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- Odening, Martin, 2000. "Der Optionswert von Sachinvestitionen - Theoretischer Hintergrund und Bewertungsmethoden," Working Paper Series 18828, Humboldt University Berlin, Department Agricultural Economics.
- Musshoff, Oliver & Odening, Martin & Xu, Wei, 2005. "Zur Reduzierung niederschlagsbedingter Produktionsrisiken mit Wetterderivaten," Working Paper Series 18822, Humboldt University Berlin, Department Agricultural Economics.
- Lissitsa, Alexej & Odening, Martin, 2001. "Effizienz und totale Faktor-produktivitat in der ukrainischen Landwirtschaft im Transformationsprozess," Working Paper Series 7391, Humboldt University Berlin, Department Agricultural Economics.
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