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Updated Arkansas Global Rice Model

Author

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  • Wailes, Eric J.
  • Chavez, Eddie C.

Abstract

The Arkansas Global Rice Model is based on a multi-country statistical simulation and econometric framework. The model consists of six sub regions. These regions are the U.S., South Asia, North Asia and the Middle East, the Americas, Africa and Europe. Each region comprises of several countries and each country model has a supply sector, a demand sector, a trade, stocks and price linkage equations. All equations used in this model were estimated using econometric procedures or identities. Estimates are based upon a set of explanatory variables including exogenous macroeconomic factors such as income, population, inflation rate, technology development, and especially, government determined policy variables which reflect the various mechanisms by which countries intervene in their rice sector economy. More specifically, the Arkansas Global Rice Model is a representation of the world rice economy. It is specified as a series of six regional models, each having a similar structure within which endogenous relationships explain the economic factors determining rice demand, supply, trade and prices. Individual country models are then linked through net trade that highlights the interdependence of countries in the world rice economy.

Suggested Citation

  • Wailes, Eric J. & Chavez, Eddie C., 2010. "Updated Arkansas Global Rice Model," Staff Papers 94347, University of Arkansas, Department of Agricultural Economics and Agribusiness.
  • Handle: RePEc:ags:uarksp:94347
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    File URL: http://purl.umn.edu/94347
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    References listed on IDEAS

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    1. JooHo Song & Colin A. Carter, 1996. "Rice Trade Liberalization and Implications for U.S. Policy," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(4), pages 891-905.
    2. Agcaoili-Sombilla, Mercedita C. & Rosegrant, Mark W., 1994. "International trade in a differentiated good: trade elasticities in the world rice market," Agricultural Economics, Blackwell, vol. 10(3), pages 257-267, May.
    3. Karp, Larry S & Perloff, Jeffrey M, 1989. "Dynamic Oligopoly in the Rice Export Market," The Review of Economics and Statistics, MIT Press, vol. 71(3), pages 462-470, August.
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    Citations

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    Cited by:

    1. Durand-Morat, Alvaro & Chavez, Eddie & Wailes, Eric, 2015. "Gm Rice Commercialization And Its Impact On The Global Rice Economy," 2015 Annual Meeting, January 31-February 3, 2015, Atlanta, Georgia 196979, Southern Agricultural Economics Association.
    2. Nalley, Lawton Lanier & Popp, Michael P. & Fortin, Corey, 2011. "The Impact of Reducing Greenhouse Gas Emissions in Crop Agriculture: A Spatial- and Production-Level Analysis," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 40(1), April.
    3. Smith, S. Aaron & Popp, Michael P. & Nalley, Lawton Lanier & Brye, Kristofor R., 2012. "Modeling Pine as a Carbon-Sequestering Crop in Arkansas," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 41(2), August.

    More about this item

    Keywords

    Rice; trade model; policy; Agricultural and Food Policy; Crop Production/Industries; Marketing; C02; C61; F11; F14; Q17; Q18;

    JEL classification:

    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • F11 - International Economics - - Trade - - - Neoclassical Models of Trade
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • Q17 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agriculture in International Trade
    • Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy

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