Effect of trade liberalisation on volatility: the experience of Indian agriculture

Nilabja Ghosh (), Sangeeta Chakravarty and M. Rajeshwor

International Journal of Economic Policy in Emerging Economies, 2010, vol. 3, issue 3, 253-271

Abstract: Trade liberalisation in agriculture can be acceptable only if developing countries can be convinced of its benefits. Apprehensions about the effect on market volatilities and the resultant implications for supply have however slowed down negotiations. Time-series analyses of data on select commodity prices show that although the static measures suggest an across the board rise in volatility, a dynamic approach finds a possible association between volatility and trade liberalisation only for the two commercial crops among the six crops studied. A parallel analysis with supply responses also reinforces the same finding.

Keywords: volatility; trade negotiations; EGARCH; supply response; Indian agriculture; India; trade liberalisation; time-series analysis; commodity prices; crops. (search for similar items in EconPapers)
Date: 2010
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