SABIIA - Sistema Aberto e Integrado de Informação em Agricultura (Sabiia)

Bakucs, Lajos Zoltan; Bojnec, Stefan; Ferto, Imre.

The paper focus on the time adjustment paths of the exchange rate and agricultural producer and industrial prices in response to unanticipated monetary shocks following model developed by Saghaian et al. (2002). Results indicate that agricultural prices adjust faster than industrial prices to innovations in the money supply, affecting relative prices in the short run, but strict long-run money neutrality does not hold. The impulse response analysis shows that an exogenous shock to the money supply has a significant and volatile effect on the three price variables. The extent of overshooting in agricultural prices is twice as large as for exchange rates or industrial prices. This indicates that in the case of monetary shocks the sectors associated with...

ARMENIAN RURAL COOPERATIVES AND MARKETING: DAIRY SECTOR

Palavras-chave: Agricultural prices; Exchange rates; Monetary shocks; Overshooting; Transition economy; Agricultural Finance; International Relations/Trade.

Ano: 2007

URL: http://purl.umn.edu/9422

Hovhannisyan, Vardges; Vasa, Laszlo.

Armenian milk marketing cooperatives provide several benefits, of which the increased opportunity for milk marketing is valued most by member farmers. During the cooperative action milk production has also increased due to seminars on cattle feeding, artificial insemination, sanitation programs, and support by cooperatives in feed procurement. Another benefit is that through pooling products of specified grade or quality, marketing cooperatives are better able to market milk to large-scale buyers than individual owners. Putting their efforts together cooperatives can move to distant markets and thus expand their sales opportunities. This is of paramount importance for those cooperatives that have a sole buyer. In addition to milk marketing, almost all of...

Tipo: Journal Article

Palavras-chave: Agriculture; Cooperation; Cooperative; Milk production; Transition economy; Agribusiness; International Relations/Trade.

Ano: 2007

URL: http://purl.umn.edu/58902

Monetary Impacts and Overshooting of Agricultural Prices in a Transition Economy: The Case of Slovenia

Bakucs, Lajos Zoltan; Bojnec, Stefan; Ferto, Imre.

The paper focus on the time adjustment paths of the exchange rate and agricultural producer and industrial prices in response to unanticipated monetary shocks following model developed by Saghaian et al. (2002). We employ Johansen's cointegration test along with a vector error correction model to investigate whether agricultural producer prices overshoot in a transition economy. Results indicate that agricultural prices adjust faster than industrial prices to innovations in the money supply, affecting relative prices in the short run, but strict long-run money neutrality does not hold. The impulse response analysis shows that an exogenous shock to the money supply has a significant and volatile effect on the three price variables. Initially, both the...

Agricultural Inter-Sectoral Linkages and Its Contribution to Economic Growth in the Transition Countries

Palavras-chave: Agricultural prices; Exchange rates; Monetary shocks; Overshooting; Transition economy; Financial Economics; C32; E51; P22; Q11.

Ano: 2006

URL: http://purl.umn.edu/25515

Subramaniam, Vijay; Reed, Michael R..

This study estimates an econometric model that incorporates the linkages among agriculture, manufacturing, service and trade sectors using a vector error correction model for Poland and Romania. Three cointegrating vectors for Poland and one for Romania confirm that the different sectors in the Poland and Romania moved together over the sample period, and for this reason, their growth rates are interdependent. The long-run relationship of industrial, service and trade sectors to agricultural sector were established, and the results show that the industrial sector in Poland contributes positively to the agricultural sector while the growing service sector shows mixed results. The results of Romania indicate that the industrial sector is detrimental to...

SOCIO-ECONOMIC STATUS AND THE STRUCTURAL CHANGE OF DIETARY INTAKE IN HUNGARY: A PANNEL STUDY

Palavras-chave: Transition economy; Inter-sectoral growth linkages; Cointegration analysis; International Development; Research Methods/ Statistical Methods; P20; 041; C32.

Ano: 2009

URL: http://purl.umn.edu/51586

Bakucs, Lajos Zoltan; Ferto, Imre; Marreiros, Cristina.

Typically, big changes in the economic system lead to alterations on the disposable income of families and thus on their spending for different type of products, including food. These may imply, in the long run, a structural modification of the quality of diet of the population. After the fall of the socialist system, in the past two decades Central and Eastern European countries, including Hungary, went through a profound, and sometimes difficult transition of their political and economic systems, shifting from a centralized planned economy to an open market economy, and more importantly, the European Union integration. Economic change in lower-income and transitional economies of the world appears to coincide with increasing rapid social change. With...

Monetary Impacts and Overshooting of Agricultural Prices in a Transition Economy

Palavras-chave: Transition economy; Food consumption patterns; Cluster analysis; Logit analysis; Agricultural and Food Policy; Consumer/Household Economics; Demand and Price Analysis; Food Consumption/Nutrition/Food Safety; Food Security and Poverty; Health Economics and Policy.

Ano: 2010

URL: http://purl.umn.edu/116402

The paper focus on the time adjustment paths of the exchange rate and prices in response to unanticipated monetary shocks following model developed by Saghaian et al. (2002). We employ Johansen's cointegration test along with a vector error correction model to investigate whether agricultural prices overshoot in a transition economy. The empirical results indicate that agricultural prices adjust faster than industrial prices to innovations in the money supply, affecting relative prices in the short run, but strict long-run money neutrality does not hold.

The Influence of Macroeconomic Variables on the Hungarian Agriculture

Palavras-chave: Agricultural prices; Exchange rates; Monetary shocks; Overshooting; Transition economy; Agricultural Finance; C32; E51; P22; Q11.

Ano: 2005

URL: http://purl.umn.edu/24711

This paper focus on the time adjustment paths of the exchange rate and prices in response to unanticipated monetary shocks following model developed by Saghaian et al. (2002). We employ Johansen's cointegration test along with a vector error correction model to investigate whether agricultural prices overshoot in a transition economy. The empirical results indicate that agricultural prices adjust faster than industrial prices to innovations in the money supply, affecting relative prices in the short run, but strict long-run money neutrality does not hold.

SPATIAL INTEGRATION ON THE HUNGARIAN MILK MARKET

Palavras-chave: Agricultural prices; Exchange rates; Monetary shocks; Overshooting; Transition economy; Demand and Price Analysis; C32; E51; P22; Q11.

Ano: 2005

URL: http://purl.umn.edu/19232

The geographical separation of markets is of a special importance in agriculture, as often, agricultural products are bulky and/or perishable, and the place of consumption may be different from that of production, implying possibly expensive transport costs (SEXTON ET AL., 1991). The imperfectly integrated markets may send wrong price information signals to producers and other actors of the marketing chain, resulting incorrect production and marketing decisions. The aim of the article is to map the horizontal integration on the milk market in the Hungarian milk market using up-to-date Vector Error Correction (VECM) and Threshold Error Correction (TEVCM) methods.

Moving from ‘land titling’ to ‘land governance’: The case of the Kyrgyz Republic

Palavras-chave: Horizontal integration; Transition economy; Threshold cointegration; Livestock Production/Industries; Marketing.

Ano: 2007

URL: http://purl.umn.edu/7832

Undeland, Asyl; Burns, Tony; Deininger, Klaus W.; Selod, Harris.

There is a growing recognition that well-defined and enforceable property rights to land are important for a range of economic and social functions. To assess land governance at the country level, the World Bank has elaborated a diagnostic tool based on empirical indicators that aims to identify areas for improvement and that could be used to monitor progress in the land sector. This tool, the Land Governance Assessment Framework (LGAF), was first tested in Peru, Ethiopia, Tanzania, Indonesia and in the Kyrgyz Republic, and is currently being implemented in a number of other countries worldwide. The present paper summarizes the main results obtained from the Kyrgyz pilot to illustrate the case of land governance issues that arise in a post-transition...

Monetary Impacts and Overshooting of Agricultural Prices in a Transition Economy: The Case of Hungary

Palavras-chave: Indicators; Land policy; Land administration; Transition economy; Agricultural and Food Policy; Institutional and Behavioral Economics; Political Economy; P21; Q15; R52.

Ano: 2010

URL: http://purl.umn.edu/90831

This article examines the impacts of monetary policy on agricultural prices in the Hungarian economy using time series analysis. The empirical results indicate that agricultural prices adjust faster to monetary shocks than industrial prices do, affecting relative agricultural prices in the short run, but strict long-run money neutrality does not hold. We also find that the exchange rate as a flexible sector variable, adjusts faster to temporary shocks than the sticky, industrial prices. This implies that in a case of monetary shocks the agricultural sector associated with flexible changes bears the burden of adjustment vis-à-vis the sectors with sticky changes. These macroeconomic effects are reflected in real agricultural price volatility and the...

Empirical Analysis of Potential Oligopsony Power and Production Technology in the Ukrainian Milk Processing Industry under Conditions of Economic Transition

Palavras-chave: Overshooting of agricultural prices; Money neutrality; Cointegration; Transition economy; Agricultural and Food Policy; Demand and Price Analysis; Production Economics.

Ano: 2009

URL: http://purl.umn.edu/51798

Perekhozhuk, Oleksandr; Grings, Michael; Glauben, Thomas.

The objective of this study is to provide an empirical analysis of potential market power of the Ukrainian milk processing industry in the market for raw milk. The article is based on the New Empirical Industrial Organization (NEIO) approach and pays special attention to the production technology of the sector. In NEIO studies of market power in the food processing industry the production technology is typically assumed to be of a neoclassical type with simple properties like, e.g., constant returns to scale. Properties of this kind, however, are likely not to prevail in most transition countries of Eastern Europe because of serious distortions in factor usage mainly due to institutional deficiencies. Therefore, the analysis of this study is based on the...

Re-evaluation of Welfare Changes during the Transition in Poland

Palavras-chave: Milk processing industry; New empirical industrial organization (NEIO); Oligopsony power; Production technology; Transition economy; Ukraine; Industrial Organization; Livestock Production/Industries.

Ano: 2008

URL: http://purl.umn.edu/44440

Huffman, Sonya Kostova; Johnson, Stanley R..

The costs of shortages and rationing are not captured by standard consumer price indices. Thus the change in real gross domestic product (GDP) per capita is an overestimate of welfare losses in transition economies. In this study virtual prices are used to calculate new cost-of-living indices, making it possible to construct more accurate pre- and postreform welfare comparisons. The results for Poland using virtual prices show a 62 to 84 percent decline in welfare over the transition period 1987 to 1992. This welfare loss is approximately one-third the value obtained using actual prices.

Tipo: Working or Discussion Paper

Palavras-chave: Transition economy; Poland; Cost-of-living indices; Political Economy.

Ano: 2000

URL: http://purl.umn.edu/18567

Determinants of Food Choice in a Transitional Economy: Insights from the Theory of Reasoned Action

Petrovici, Dan Alex; Ritson, Christopher; Ness, M..

This paper draws upon a consumer survey carried out in Bucharest (Romania) to explore determinants of food choice in a transition economy. An adapted version of the Theory of Reasoned Action was developed. This included attitude toward intention, habit and preference as independent variables. The structural equations modelling carried out in 'Analysis of MOment Structures' AMOS showed a significant positive influence of all variables. Similar to other studies conducted in European Union (EU) countries (Saba, Di Natale, 1998) habit outweighed the other variables. The study emphasises the heterogeneity of consumer beliefs about food. Furthermore it was suggested that there is scope for noneconomic variables in explaining food choices and consumer behaviour...