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Measuring Food Price Volatility in Georgia

Author

Listed:
  • Salome Gelashvili

    () (International School of Economics at Tbilisi State University, Tbilisi)

  • Phatima Mamardashvili

    () (International School of Economics at Tbilisi State University, Tbilisi)

Abstract

Food price volatility is an important determinant of access to food. Given Georgia’s low selfsufficiency ratio (34%) and its dependence on international markets, Georgia has few mechanisms to control food price volatility, particularly when it is driven by international market conditions. The goal of this paper is to measure the price volatility of wheat, potato and maize flour in Georgia, and define major drivers of volatility through a time series analysis of retail prices of those three food products, which account for a significant share of households’ spending on food. Results of the analysis are expected to contribute to Georgia’s policy on food security, as well as agricultural policy in general.

Suggested Citation

  • Salome Gelashvili & Phatima Mamardashvili, 2017. "Measuring Food Price Volatility in Georgia," Working Papers 007-17, International School of Economics at TSU, Tbilisi, Republic of Georgia.
  • Handle: RePEc:tbs:wpaper:17-007
    as

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    File URL: http://iset.tsu.ge/files/wp_07-17_Pati_Mamardashvili_Measuring%20Food%20Price%20Volatility%20in%20Georgia.pdf
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    References listed on IDEAS

    as
    1. Kornher, Lukas & Kalkuhl, Matthias, 2013. "Food Price Volatility in Developing Countries and its Determinants," Quarterly Journal of International Agriculture, Humboldt-Universitaat zu Berlin, vol. 52(4), pages 1-32, November.
    2. repec:dau:papers:123456789/12798 is not listed on IDEAS
    3. Gerald E. Shively, 1996. "Food Price Variability and Economic Reform: An ARCH Approach for Ghana," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(1), pages 126-136.
    4. Jordaan, Henry & Grove, Bennie & Jooste, Andre & Alemu, A.G., 2007. "Measuring the Price Volatility of Certain Field Crops in South Africa using the ARCH/GARCH Approach," Agrekon, Agricultural Economics Association of South Africa (AEASA), vol. 46(3), pages 1-17, September.
    5. Kuhanathan Ano Sujithan & Sanvi Avouyi-Dovi & Lyes Koliai, 2014. "On the determinants of food price volatility," Post-Print hal-01511900, HAL.
    Full references (including those not matched with items on IDEAS)

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    Keywords

    Price volatility; time series analysis;

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