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INFLUENCES OF THE GOVERNMENTAL MARKET INTERVENTIONS ON WHEAT MARKETS IN SERBIA DURING THE FOOD CRISIS 2007/2008 AgEcon
Djuric, Ivan; Goetz, Linde; Glauben, Thomas.
This paper analyzes how the market interventions of the Serbian government during the food crisis 2007/2008, inter alia a de facto export ban, have affected domestic wheat markets. Besides a comprehensive description of the crisis policy and its effects on the Serbian wheat market, we investigate how it influences the equilibrium and stability of the Serbian wheat market and its integration with the world market within a price transmission model. Applying a Markov-switching error correction model to weekly wheat grower prices in Serbia and world market prices, two states of the wheat market are identified. Our results suggest that although the long-run price elasticity did not change during the crisis, the market equilibrium was disrupted and the market...
Tipo: Conference Paper or Presentation Palavras-chave: International market integration; Markov-Switching Error Correction Model; Serbia; Wheat market; World market price transmission; Agricultural and Food Policy; Crop Production/Industries; C34; Q11; Q13; Q17; Q18.
Ano: 2011 URL: http://purl.umn.edu/114438
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THE INFLUENCES OF EXPORT CONTROLS ON WHEAT MARKETS IN SERBIA DURING THE FOOD CRISIS 2007-2008 AgEcon
Djuric, Ivan; Glauben, Thomas; Goetz, Linde.
During the food crisis in 2007/2008 the government of Serbia restricted the export of wheat to ensure that wheat supply on the domestic market is sufficient thereby dampening the increase in consumer food prices. This study investigates the effects of the export restriction on the integration, equilibrium and stability of its domestic wheat market. Within the framework of a Markov-switching error correction model, we utilize weekly wheat grower prices of Serbia and world market prices and compare the state of the wheat market prevailing in the time period before the crisis to when the exports controls are effective. Our results suggest that although the degree of market integration and thus the long-run price elasticity do not change during the crisis, the...
Tipo: Conference Paper or Presentation Palavras-chave: Wheat market; International market integration; Price transmission; Markov-switching vector error correction model; Agribusiness; Agricultural and Food Policy; International Relations/Trade.
Ano: 2009 URL: http://purl.umn.edu/57344
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Effekte der Staalichen Marktintervention auf den Weizenmarkt in Serbien während der Nahrungsmittelkrise in 2007/2008 AgEcon
Djuric, Ivan; Gotz, Linde; Glauben, Thomas.
This paper analyzes how the market interventions of the Serbian government during the food crisis 2007/2008, inter alia a de facto export ban, have affected domestic wheat market. Besides a comprehensive description of the crisis policy and its effects on the Serbian wheat market, we investigate how it influences the equilibrium and stability of the Serbian wheat market and its integration with the world market within a price transmission model. Applying a Markov-switching error correction model to weekly wheat grower prices in Serbia and world market prices, two states of the wheat market are identified. Our results suggest that the market equilibrium was disrupted and that the market stability was reduced especially after the export ban and during the so...
Tipo: Conference Paper or Presentation Palavras-chave: International market integration; Markov-Switching Error Correction Model; Serbia; Wheat market; Food crisis; Internationale Marktintegration; Markov-Switching Fehler Korrektur Modell; Serbien; Weizenmärkte; Nahrungsmittelkrise; Agribusiness.
Ano: 2011 URL: http://purl.umn.edu/114485
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