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Author: C.S.C. Sekhar
Publisher:
ISBN:
Category :
Languages : en
Pages : 17
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Book Description
Market structure has a crucial bearing on the price formation mechanism. The present study is an attempt to analyze the market structure of the world wheat market. Market power of the 'traditional oligopolists' (US, Canada and Australia) is assessed using the standard oligopoly models. Structural and partially reduced-form models are used in the estimation of market power. The results indicate absence of market power in international markets for any of the major wheat exporters. The absence of market power in international markets has one important implication for trade policy of the exporting countries. In the absence of evidence of any imperfection in international market structure, the present subsidization of wheat production and exports by EU and US cannot be justified on the grounds of strategic trade policy of the new trade theories.
Author: C.S.C. Sekhar
Publisher:
ISBN:
Category :
Languages : en
Pages : 17
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Book Description
Market structure has a crucial bearing on the price formation mechanism. The present study is an attempt to analyze the market structure of the world wheat market. Market power of the 'traditional oligopolists' (US, Canada and Australia) is assessed using the standard oligopoly models. Structural and partially reduced-form models are used in the estimation of market power. The results indicate absence of market power in international markets for any of the major wheat exporters. The absence of market power in international markets has one important implication for trade policy of the exporting countries. In the absence of evidence of any imperfection in international market structure, the present subsidization of wheat production and exports by EU and US cannot be justified on the grounds of strategic trade policy of the new trade theories.
Author: Vasilii Erokhin
Publisher: Springer Nature
ISBN: 981163260X
Category : Business & Economics
Languages : en
Pages : 560
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Book Description
This book is a pivotal publication that seeks to improve food security in the conditions of escalating protectionism in global agricultural trade. The authors argue that global trade systems have been increasingly distorted by emerging trade tensions between major actors such as the US, China, the EU, and Russia, as well as trade policies in many other countries. In view of the most recent disruption of global food supply chains due to the outbreak of the COVID-19, the book examines the effects of administrative restrictions, tariff escalations, and other forms of protectionism on food security. Over the decades, food security concerns have been emerging, along with the growth of the world population. More than two billion most impoverished people in the world spent up to 70% of their disposable income on food. In 2020, the running pandemic has unraveled accumulated problems. As many countries rely on agricultural imports, lockdowns and disrupted food production and supply chains tremendously threaten food security of those nations. Agricultural trade was already slowing in 2019 before the virus struck, weighed down by trade tensions, and decelerating economic growth. The spread of the virus and strict quarantine measures trigger economic decline that results in food prices rises and volatilities. Due to the pandemic, nearly all regions will suffer double-digit decline in trade volumes 2020. The virus will be defeated, but the effects of the protectionism outbreak would have a much longer-lasting impact on agricultural production, international supply chains, and food security worldwide. In this publication, the authors probe into many of the choices that link national, regional, and global policies extensively with the provision of food security for all in the new era of post-virus global trade. Since studying global agricultural trade has a multinational application, its outcomes might be shared with a broad international network of stakeholders, including research institutions, universities, and individual researches. The book is appropriate for government officials, policymakers, and businesses of many countries. Adaptation of research outcomes and solutions to the situation in particular countries and various collaboration formats will let to increase the visibility of the publication and to elaborate new practices and solutions in the sphere of establishing sustainable food security.
Author: Thomas Albert Bennett
Publisher:
ISBN:
Category : Wheat trade
Languages : en
Pages : 230
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Book Description
Author:
Publisher:
ISBN:
Category : Competition, International
Languages : en
Pages : 130
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Book Description
Author: Kenneth W. Bailey
Publisher:
ISBN:
Category : Wheat trade
Languages : en
Pages : 63
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Book Description
Author: Kenneth William Meinken
Publisher:
ISBN:
Category : Wheat
Languages : en
Pages : 100
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Book Description
Author: Vladimir Prokopovich Timoshenko
Publisher:
ISBN:
Category : Wheat
Languages : en
Pages : 104
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Book Description
Author: Daniele Valenti
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
We present a Bayesian structural Vector Autoregressive model of the global wheat market to examine the relative importance of supply and demand shocks, which are interpreted as the fundamental driving forces of wheat price. To our knowledge, this is the first SVAR analysis that jointly considers (i) a Bayesian non-recursive specification, (ii) production and inventories as endogenous variables (iii) and an inventory-based detection strategy. Our main results indicate that: (i) the posterior median estimates for the price elasticity of supply and demand are mostly similar in their order of magnitude but opposite in signs (0.19 for supply and -0.20 for demand); (ii) the price and the inventories respond to global wheat market shocks differently, depending on the type of structural shock. We also show that the results obtained from Cholesy-type identified annual SVAR models for wheat market are potentially misleading and difficult to reconcile with the economic theory of competitive storage. Finally, we illustrate how unpredictable shifts in supply and demand contributed to the dynamic of wheat price between 2000 and 2022.
Author: James Allen Conrad
Publisher:
ISBN:
Category :
Languages : en
Pages : 604
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Book Description
Author: Maurice W. Schiff
Publisher:
ISBN:
Category : Wheat
Languages : en
Pages : 76
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Book Description
