Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/194573
Authors: 
Svanidze, Miranda
Götz, Linde Johanna
Year of Publication: 
2019
Series/Report no.: 
Discussion Paper No. 187
Abstract: 
Using a threshold vector error correction model approach we find the wheat market of Russia segmented, with the primary grain export region poorly integrated into the domestic market. Results also indicate that trade costs are high, hindering spatial market efficiency of wheat markets in Russia. In addition, our study demonstrates that, by including the USA as benchmark country, a comparative approach enables a more comprehensive assessment of the spatial market efficiency of the wheat market in Russia. The study shows that the distinction between grain production and export potential, especially for markets located in peripheral regions of Russia, is essential to correctly identify Russia's future role for global food security. As a general conclusion, besides raising agricultural production potential it is also essential to strengthen spatial market efficiency in the agricultural sector to boost agricultural export potential and to increase global food security.
Subjects: 
spatial market efficiency
grain production potential
Russia
TVECM
regularized Bayesian estimator
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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