@techreport{Brosig2005Interregional,
abstract = {Reliable marketing opportunities in both interregional and international trade along with relatively low transportation [and transaction] costs are essential to profitability of wheat production. In this study we have investigated one aspect of the quality of marketing and trade opportunities in the Kazakh wheat sector, that is the extent and nature of integration among regional wheat markets. We applied threshold cointegration technique to assess the co-movement between time series of elevator prices at three grain-trading (and producing) spots in the northern and central parts of the country. Results suggest that markets of two northern grain trading spots (Petropavlovsk and Kokshetau) are closely connected with each other while their connection with Karaganda in central Kazakhstan is much weaker. Here, levelling out of price gaps through arbitrage trade only occurs after a threshold of considerable extent has been surpassed. --  -- G E R M A N  V E R S I O N: Eine wichtige Voraussetzung f\"{u}r die Wirtschaftlichkeit der Getreideproduktion sind verl\"{a}ssliche Vermarktungswege, die interregionalen und internationalen Handel zu relativ geringen Transport- und Transaktionskosten zulassen. Die Studie behandelt die Integration regionaler Weizenm\"{a}rkte miteinander und beleuchtet damit, wie reibungslos Getreidehandel zwischen diesen Regionen m\"{o}glich ist. Mit Hilfe von Verfahren der threshold cointegration analysis werden Zusammenh\"{a}nge in den Preisentwicklungen zwischen drei wichtigen Handelspl\"{a}tzen in Nord und Zentralkasachstan untersucht. Die M\"{a}rkte der beiden n\"{o}rdlichen Marktorte Petropavlovsk und Kokshetau stehen in enger Verbindung zueinander, w\"{a}hrend sie wesentlich unabh\"{a}ngiger von den Marktentwickungen im zentralkasachischen Karaganda sind. Ein Ausgleich von Preisunterschieden zwischen den n\"{o}rdlichen M\"{a}rkten und Karaganda findet erst statt, wenn diese Unterschiede einen betr\"{a}chtlichen Schwellenwert (threshold) \"{u}bersteigen.},
address = {Halle (Saale)},
author = {Stephan Brosig and Yorbol Yahshilikov},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {C22; Q13; 330; Kazakhstan; Price transmission; Market integration; Threshold cointegration; Kasachstan; Preistransmission , Marktintegration; Kointegration},
language = {eng},
note = {urn:nbn:de:gbv:3:2-3792},
number = {88},
publisher = {Leibniz-Institut f\"{u}r Agrarentwicklung in Mittel- und Osteuropa (IAMO)},
title = {Interregional integration of wheat markets in Kazakhstan; Interregionale Integration von Weizenm\"{a}rkten in Kasachstan},
type = {Discussion paper // Institute of Agricultural Development in Central and Eastern Europe},
url = {http://hdl.handle.net/10419/28483},
year = {2005}
}
