Quantifying the impact of Russia–Ukraine crisis on food security and trade pattern: evidence from a structural general equilibrium trade model

Fan Feng, Ningyuan Jia and Faqin Lin

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: Purpose: Considering the importance of Russia and Ukraine in agriculture, the authors quantify the potential impact of the Russia–Ukraine conflict on food output, trade, prices and food security for the world. Design/methodology/approach: The authors mainly use the quantitative and structural multi-country and multi-sector general equilibrium trade model to analyze the potential impacts of the conflict on the global food trade pattern and security. Findings: First, the authors found that the conflict would lead to soaring agricultural prices, decreasing trade volume and severe food insecurity especially for countries that rely heavily on grain imports from Ukraine and Russia, such as Egypt and Turkey. Second, major production countries such as the United States and Canada may even benefit from the conflict. Third, restrictions on upstream energy and fertilizer will amplify the negative effects of food insecurity. Originality/value: This study analyzed the effect of Russia–Ukraine conflict on global food security based on sector linkages and the quantitative general equilibrium trade framework. With a clearer demonstration of the influence about the inherent mechanism based on fewer parameters compared with traditional Global Trade Analysis Project (GTAP) models, the authors showed integrated impacts of the conflict on food output, trade, prices and welfare across sectors and countries.

Keywords: agriculture commodity price; agriculture trade; food security; Russia–Ukraine conflict; welfare (search for similar items in EconPapers)
JEL-codes: F17 Q17 (search for similar items in EconPapers)
Pages: 18 pages
Date: 2023-05-02
New Economics Papers: this item is included in nep-agr, nep-cis, nep-int and nep-tra
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Citations: View citations in EconPapers (1)

Published in China Agricultural Economic Review, 2, May, 2023, 15(2), pp. 241 - 258. ISSN: 1756-137X

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Related works:
Journal Article: Quantifying the impact of Russia–Ukraine crisis on food security and trade pattern: evidence from a structural general equilibrium trade model (2023)
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