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European Association of Agricultural Economists >
113th Seminar, December 9-11, 2009, Belgrade, Serbia >
Please use this identifier to cite or link to this item:
http://purl.umn.edu/57344
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| Title: | THE INFLUENCES OF EXPORT CONTROLS ON WHEAT MARKETS IN SERBIA DURING THE FOOD CRISIS 2007-2008 |
| Authors: | Djuric, Ivan
Glauben, Thomas
Goetz, Linde |
| Authors (Email): | Djuric, Ivan (djuric@iamo.de) |
| Keywords: | wheat market
international market integration
price transmission
Markov-switching vector error correction model |
| Issue Date: | 2009-12 |
| Abstract: | 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 market equilibrium was disrupted and
the stability was reduced during the crisis. Also, we find that the price dampening effect
of the export restrictions prevailed only in a short time period and that the Serbian wheat
grower prices even increased beyond the world market afterwards. |
| URI: | http://purl.umn.edu/57344 |
| Identifiers: | isbn 978-86-82121-76-3 |
| Institution/Association: | European Association of Agricultural Economists>113th Seminar, December 9-11, 2009, Belgrade, Serbia |
| Total Pages: | 10 |
| From Page: | 131 |
| To Page: | 141 |
| Collections: | 113th Seminar, December 9-11, 2009, Belgrade, Serbia
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Files in This Item:
| File |
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Size | Format |
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| Djuric Ivan cover.pdf | paper from sesion A | 542Kb | PDF | View/Open |
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