How well is the Russian wheat market functioning? A comparison with the corn market in the USA
Miranda Svanidze and
No 261434, 2017 International Congress, August 28-September 1, 2017, Parma, Italy from European Association of Agricultural Economists
Given Russia’s leading position in the world wheat trade, how well its grain markets function becomes very important question to evaluate the state of future global food security. We use a threshold vector error correction model to explicitly account for the influence of trade costs on price relationships in the grain markets of Russia and the USA. In addition, we study impact of market characteristics on regional wheat market integration. Empirical evaluation shows that distance between markets, interregional trade flows, export orientation, export tax and export ban all have a significant impact on the magnitude of wheat market integration.
Keywords: Agribusiness (search for similar items in EconPapers)
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