Graduate Thesis Or Dissertation
 

Spatial price linkages between developed and developing countries : The case of rice and wheat markets

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https://ir.library.oregonstate.edu/concern/graduate_thesis_or_dissertations/3197xq134

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  • The Uruguay Round Agreement on Agriculture in 1994 initiated multilateral reform of the agricultural sector to better integrate global markets. The implementation of the agreement has occurred at a time when agricultural commodity prices have significantly declined. These two events reveal that many countries maintained different thresholds in terms of domestic or trade policies, which supported their agricultural sectors. This study analyzed spatial price linkages and adjustments between developed and developing countries during the post-Uruguay Round period (1996/1997-2002). Prices of two key commodities market long grain rice and hard wheat - are assembled for major exporters and producers. Unlike prior studies, this investigation focused on market integration between developed and developing countries at a time of significant fall in commodity prices. For each commodity, in addition to identifying the long-run price relationship, this study focused also on the adjustment of prices to stay in the long-run relationship. Results from the multivariate cointegration analysis indicate that only partial market integration existed between the two groups of countries. In most instances, the changes in the prices of the developed countries impact those of developing countries. The latter, especially the new entrants into the world rice and wheat markets (e.g. Vietnam and Argentina) have faced considerably rapid price adjustment during the post-Uruguay Round period, which affects price stability, income, and welfare of their agricultural households.
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Déclaration de droits
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  • File scanned at 300 ppi (Monochrome) using Capture Perfect 3.0.82 on a Canon DR-9080C in PDF format. CVista PdfCompressor 4.0 was used for pdf compression and textual OCR.
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