| Registro completo |
| Provedor de dados: |
AgEcon
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| País: |
United States
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| Título: |
INFLUENCES OF THE GOVERNMENTAL MARKET INTERVENTIONS ON WHEAT MARKETS IN SERBIA DURING THE FOOD CRISIS 2007/2008
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| Autores: |
Djuric, Ivan
Goetz, Linde
Glauben, Thomas
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| Data: |
2011-09-02
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| Ano: |
2011
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| 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
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| Resumo: |
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 stability reduced. Also, we find that the price dampening effect of the export restrictions was only short-lived, and that Serbian wheat grower prices even increased above the world market level.
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| Tipo: |
Conference Paper or Presentation
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| Idioma: |
Inglês
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| Identificador: |
http://purl.umn.edu/114438
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| Relação: |
European Association of Agricultural Economists>2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland
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| Formato: |
12
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