Measuring Food Price Volatility in Georgia

Salome Gelashvili () and Phatima Mamardashvili
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Salome Gelashvili: International School of Economics at Tbilisi State University, Tbilisi

No 007-17, Working Papers from International School of Economics at TSU, Tbilisi, Republic of Georgia

Abstract: Food price volatility is an important determinant of access to food. Given Georgia’s low selfsufficiency ratio (34%) and its dependence on international markets, Georgia has few mechanisms to control food price volatility, particularly when it is driven by international market conditions. The goal of this paper is to measure the price volatility of wheat, potato and maize flour in Georgia, and define major drivers of volatility through a time series analysis of retail prices of those three food products, which account for a significant share of households’ spending on food. Results of the analysis are expected to contribute to Georgia’s policy on food security, as well as agricultural policy in general.

Keywords: Price volatility; time series analysis (search for similar items in EconPapers)
Pages: 15 pages
Date: 2017
New Economics Papers: this item is included in nep-agr, nep-cis and nep-cwa
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Persistent link: https://EconPapers.repec.org/RePEc:tbs:wpaper:17-007

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