Arbeitspapier
Factors explaining crop price developments: Time-series evidence for developing and developed countries
The global hunger indices of 2008 and 2009 (Grebmer et al. 2008, 2009) point to persistently high levels of hunger and food insecurity and a worsening of the situation due to rising crop prices. At the same time, there is a lack of empirical knowledge on the demand- and supply-side determinants of crop prices. Given this situation, this paper estimates structural equation models by means of the three-stage least-squares estimator to identify the sensitivity of the price of three major crops (wheat, maize, and rice) in up to eight countries (India, China, Egypt, Thailand, Ecuador, Uruguay, the United States, and Australia) to global and country-specific crop demand and supply conditions. The evidence suggests that conclusions regarding the determinants of crop prices critically depend on the choice of crop and country. The nonexistence of a consistent and homogenous set of price determinants suggests that the stability and predictability of crop prices depends on country-specific domestic policies that target both the crop demand and supply side. The evidence also suggests that supply-side initiatives are likely to be more effective to this end.
- Sprache
-
Englisch
- Erschienen in
-
Series: Diskussionsbeitrag ; No. 451
- Klassifikation
-
Wirtschaft
Multiple or Simultaneous Equation Models: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
Agriculture: Aggregate Supply and Demand Analysis; Prices
Agriculture: Other
- Thema
-
Agriculture
food prices
crop prices
simultaneous equations
three-stage least-squares
Getreidepreis
Getreidemarkt
Agrarpolitik
Nahrungsmittelpreis
Vergleich
Schätzung
Indien
China
Ägypten
Thailand
Ecuador
Uruguay
USA
Australien
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Raabe, Katharina
- Ereignis
-
Veröffentlichung
- (wer)
-
Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät
- (wo)
-
Hannover
- (wann)
-
2010
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Raabe, Katharina
- Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät
Entstanden
- 2010
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