Determinants of spatial market efficiency of grain markets in Russia

被引：13
|
作者：
Svanidze, Miranda [1 ]
Goetz, Linde [1 ]
机构：
[1] Leibniz Inst Agr Dev Transit Econ IAMO, Theodor Lieser Str 2, D-06120 Halle, Saale, Germany
来源：
FOOD POLICY | 2019年 / 89卷
关键词：
Wheat markets; Regional integration; Unobserved effects model; Russia; The USA; PRICE DISCOVERY; FUTURES; COINTEGRATION; TESTS; UKRAINE;
D O I：
10.1016/j.foodpol.2019.101769
中图分类号：
F3 [农业经济];
学科分类号：
0202 ; 020205 ; 1203 ;
摘要：
Results of an unobserved effects model on the determinants of inter- and intraregional grain market integration in Russia in comparison to the USA highlights the differences of the mechanisms underlying market integration in each market. Physical trade flows are exclusively dominant in Russia; in contrast, in the United States, additional information flows induced by commodity futures markets play a great role. Policies which improve grain market efficiency in Russia should not only foster investments in transportation and trade infrastructure, but also the development of market information services and commodity futures markets.
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页数：10
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