How well is the Russian wheat market functioning? A comparison with the corn market in the USAHow well is the Russian wheat market functioning? A comparison with the corn market in the USA
Miranda Svanidze and
No 262000, 57th Annual Conference, Weihenstephan, Germany, September 13-15, 2017 from German Association of Agricultural Economists (GEWISOLA)
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 and distance 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, inter-regional trade flows, export orientation, export tax and export ban all have a significant impact on the magnitude of wheat market integration.
Keywords: Agricultural and Food Policy; Crop Production/Industries; Food Security and Poverty (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:gewi17:262000
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