Commodity Price Volatility during and after the Economic Crisis – Implications for Romania

Pop Larisa Nicoleta (), Rovinaru Flavius () and Rovinaru Mihaela ()
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Pop Larisa Nicoleta: PhD Lecturer Babes-Bolyai University Faculty of Economics and Business Administration
Rovinaru Flavius: PhD Senior Lecturer Babes-Bolyai University Faculty of Economics and Business Administration
Rovinaru Mihaela: PhD Lecturer Babes-Bolyai University Faculty of Economics and Business Administration

South East European Journal of Economics and Business, 2013, vol. 8, issue 1, 45-52

Abstract: Under the impact of a wide range of forces, the prices of globally traded commodities often experience sudden and significant fluctuations, putting under uncertainty and risk the economic status of producers, consumers and traders from the private to the national level. Although commodity markets are notorious for their price volatility, the events the world economy experienced in recent years, particularly the global economic crisis, offered new connotations to this phenomenon. These price movements reverberated across internal markets all over the world, affecting their statuses. As Central Eastern European countries, due to the processes they have undergone in recent decades, manifest an increased responsiveness to external shocks, Romania experienced the international turmoil in a severe manner. This paper calculates and presents, by comparison, the food price volatility experienced at the international level and on the Romanian market during the years of the crisis and immediately after its appeasement.

Keywords: commodity price volatility; economic crisis; Romanian market; GARCH (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:seejeb:v:8:y:2013:i:1:p:8:n:3

DOI: 10.2478/jeb-2013-0003

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