scholarly journals URUGUAY AND THE FIRST GLOBALIZATION: ON THE ACCURACY OF EXPORT PERFORMANCE, 1870-1913

2015 ◽  
Vol 33 (2) ◽  
pp. 287-320 ◽  
Author(s):  
Nicolás Bonino-Gayoso ◽  
Antonio Tena-Junguito ◽  
Henry Willebald
Keyword(s):  
Empirical Evidence ◽  
Price Index ◽  
Export Performance ◽  
Export Price ◽  
International Market ◽  
Economic Evolution ◽  
Market Prices ◽  
Long Run ◽  
Export Price Index

ABSTRACTIn order to understand Uruguay’s long-run economic evolution it becomes crucial to interpret its export performance during the First Globalization. The lack of accuracy of official figures, especially official prices used, calls for an adjustment of Uruguayan export series. We have used empirical evidence to test the accuracy of quantities and values of export records, first, according to import partners’ records and, second, according to international market prices. Results show a general undervaluation of official export values during the period along with severe distortions in the registers caused by transit trade. We reconstructed new Uruguayan export f.o.b values and an export price index which present a more unstable and less dynamic export evolution than that of neighbouring Argentina.

scholarly journals Is a World Price Influencing Indian Vegetable Oil Market? Evidence from Historical Prices

2021 ◽  
Vol 66 (2) ◽  
Author(s):  
Akshata , Nayak
Keyword(s):  
Edible Oils ◽  
International Market ◽  
Groundnut Oil ◽  
Market Prices ◽  
Domestic Markets ◽  
Market Intelligence ◽  
Long Run ◽  
Oil Markets ◽  
Bidirectional Relationship ◽  
Storage Networks

India is one of the leading producers and consumers of vegetable oils in the world. The integration of ’India’s edible oils markets with international oil markets (Rotterdam market) is studied with the overall objective of establishing long-run relationship and direction of causality. Keeping in view of the quantum of arrivals, five major domestic wholesale markets and one international market each for groundnut, soybean, and sunflower were selected. Johansen’s cointegration test revealed the prevalence of long-run relationships across the markets. In the case of groundnut oil, Rotterdam market prices are influenced by only Delhi market, whereas all selected domestic markets influence the latter. The results of causality in soybean markets confirmed a unidirectional relationship between all the domestic markets with the international market except Jaipur market, which has a bidirectional relationship with the international market. Hyderabad and Vijayawada sunflower market prices influenced the international market. The suggested policy intervention is to strengthen market intelligence for farmers by establishing online market analysis and dissemination system. The development/strengthening of market infrastructure, including communication, transportation, and storage networks, is mandatory to fully integrate the markets.

scholarly journals Bias in the Consumer Price Index: What Is the Evidence?

1996 ◽  
Vol 10 (4) ◽  
pp. 159-177 ◽  
Author(s):  
Brent R Moulton
Keyword(s):  
Empirical Evidence ◽  
Budget Deficit ◽  
Price Index ◽  
Consumer Price Index ◽  
Federal Budget ◽  
Quality Adjustment ◽  
Federal Budget Deficit ◽  
Long Run ◽  
Sampling Procedures ◽  
The U.S

Recent research has suggested that the upward bias of the U.S. consumer price index may be significant, and correcting the biases would have important long-run effects on the federal budget deficit. The author describes the sampling procedures used in constructing the consumer price index, and gives simple examples of formula bias and quality adjustment. He then reviews the empirical evidence, attempting to show which biases are reliably estimated and which estimates of bias are based on extrapolation and guesswork. The author discusses possibilities for further research leading to potential improvements in the consumer price index.

scholarly journals Trade Dynamics of Basmati and Non-Basmati Rice Exports from India

2020 ◽  
pp. 68-76
Author(s):  
M. Udhayakumar ◽  
K. R. Karunakaran
Keyword(s):  
Markov Chain ◽  
Markov Chain Model ◽  
Export Performance ◽  
Export Price ◽  
International Market ◽  
Basmati Rice ◽  
Chain Model ◽  
Export Demand ◽  
Good Export ◽  
Trade Dynamics

India is the world's largest producer and leading exporter of basmati rice. India produces about 70 per cent of the total world basmati rice production and the rest is produced by Pakistan. During 2017-18 the country has exported globally about 40.56 Lakh tonnes of Basmati Rice and 86.48 Lakh tonnes for Non-Basmati rice, the worth of 268.70 billion and 229.68 billion respectively. Basmati rice has got good export demand and fetches good export price in international markets due to such uniqueness. The higher price of basmati rice in international market made basmati rice as export competitive product. The present study is to analyze the export performance and its competitiveness of basmati non-basmati rice in India. In this paper rice trade dynamics of changes in terms of value of exports of basmati and non-basmati rice from India to different export markets have been measured by employing the Markov-Chain model. U.A.E. and Saudi Arabia are found to be stable destinations for Indian basmati rice exports from Markov-Chain results. Whereas, Benin, Bangladesh and UAE are found to be major destinations for non-basmati rice exports. The most unstable markets among the non-basmati rice importing countries were Cote D Ivoire and Liberia with the zero per cent retention. In order to sustain in the international market, Indian export price needs to be competitive besides improvement in quality and sanitary standards.

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