scholarly journals Global Wheat Market Dynamics: What Is the Role of the EU and the Black Sea Wheat Exporters?

Agriculture ◽  
2021 ◽  
Vol 11 (8) ◽  
pp. 799
Author(s):  
Miranda Svanidze ◽  
Ivan Đurić
Keyword(s):  
Black Sea ◽  
Price Formation ◽  
The Black Sea ◽  
Black Sea Region ◽  
Vector Error Correction ◽  
Vector Error ◽  
Wheat Market ◽  
The Usa ◽  
Short Run ◽  
Current Price

Over the last two decades, three countries in the Black Sea Region—Russia, Ukraine, and Kazakhstan—became global leaders in grain production and trade, and replaced the USA and France as the most previous largest wheat exporting countries. In this study we investigate world wheat price linkages and identify the current “price leaders” of the global wheat market. This empirical analysis is focused on the price relationships between eight of the largest wheat exporting countries and uses a cointegration framework and a vector error-correction model. The results show that, regarding price formation on the world wheat market, the French price is more important for transmitting price signals to other wheat export markets compared to the USA. Furthermore, our results indicate that, despite being leaders in wheat export volumes, the Black Sea wheat prices in Russia and Ukraine adjust to price changes in France, the USA, and Canada. Albeit unrealistic in the short run, the creation of the futures market in the Black Sea region might significantly improve the participation of Black Sea markets in price formation of the global wheat market.

About Geopolitical Strategy of NATO in the Black Sea Pool

2020 ◽  
Vol 7 (2) ◽  
pp. 219-226
Author(s):  
A. V. Ishin
Keyword(s):  
International Relations ◽  
Black Sea ◽  
North Atlantic ◽  
The Black Sea ◽  
Black Sea Region ◽  
Industrial Structures ◽  
Spheres Of Influence ◽  
International Stability ◽  
The Usa ◽  
Sea Area

In the article geopolitical strategy of North Atlantic Treaty Organization in the Black Sea pool is examined. An author examines instruments and mechanisms of policy of NATO. The special attention is spared the problem of increase of military-strategic pressure from the side of evroatlantic structures. The «ukrainian», «georgian», «romanian», «turkish» factors is examined in the article.Attempts from the side of NATO to use these factors for strengthening of pressure on opponents having no prospects and do damage international relations. Interests of policy of neighbourliness suffer. Thus expressing interests of transnational soldiery, financial and industrial structures, the USA and their allies intrude in other civilization and politic space.An author comes to the conclusion, that experience of the last decade testifies with all evidence about strategic absence of any prospect of attempts of the use of the Black Sea area as a buffer area of isolation and inhibition of Russia. Exactly after the foreign-policy going of Russian diplomacy near development of the Black Sea region is the future.Changing of accents from a geopolitical rivalry and fight for the «spheres of influence» to mutually beneficial partnership and clear distributing of mutual spheres of responsibility for maintenance of international stability opens on principle new prospects and for a wide collaboration in the field of ecology, rational use of natural resources, development of rekreacionnoy infrastructure.

scholarly journals CHALLENGES FOR THE WHEAT MARKET IN THE BLACK SEA REGION UNDER CОVID-19

2021 ◽  
Author(s):  
Desislava Ivanova ◽  
Keyword(s):  
Black Sea ◽  
Raw Materials ◽  
The Black Sea ◽  
Black Sea Region ◽  
Grain Trade ◽  
Wheat Market ◽  
Strategic Location ◽  
The World ◽  
Political Economic ◽  
Financial Recession

Under COVID-19, the world is facing unclear circumstances as a result of the global political, economic, social and financial recession caused by the pandemic. The overpopulation of certain regions as a result of globalization leads to problems related to the nutrition of the population and food security. The Black Sea region, with its strategic location, is an essential market both for the production and for the supply of raw materials to the regions affected by poverty and also for the international grain trade and in particular for the wheat. The report presents the main trends in the wheat market within the Black Sea region and argues the problems and challenges, which the grain trade is facing after the beginning of the COVID- 19 pandemic.

Co-integration Between Sensex and Other Popular Indices: A Decadal Study

2019 ◽  
Vol 8 (2) ◽  
pp. 108-117
Author(s):  
Parul Bhatia ◽  
Hemalatha Ramasubramanian
Keyword(s):  
Vector Error Correction Model ◽  
Correction Model ◽  
Vector Error Correction ◽  
Vector Error ◽  
Long Run ◽  
World Markets ◽  
The World ◽  
Integration Techniques ◽  
The Usa ◽  
Short Run

We examine the inter-relationship between India, the USA, Japan, China, France, Dubai and Germany using multivariate co-integration techniques. The study has investigated co-movements between these world indices from 2009 to 2018. During this period, it was found using Johansen co-integration that these indices were co-integrated in the long run. However, in the vector error correction model, long-run causality could not be found. Thereafter with Wald-χ2 diagnostics, it was found that short-run linkages existed among Indian and rest of the world markets in the study. Therefore, the seven indices may be concluded to have causal relationship in the short run and co-integrating association in the long run.

Obsidian Exchange Networks in Prehistoric Anatolia: New Data from the Black Sea Region

Paléorient ◽  
2013 ◽  
Vol 39 (2) ◽  
pp. 173-182
Author(s):  
Bleda S. Düring ◽  
Bernard Gratuze
Keyword(s):  
Black Sea ◽  
The Black Sea ◽  
Exchange Networks ◽  
Black Sea Region

The referendum as an institution in the Black Sea Region: Does it signal the rise or collapse of democracy?

2019 ◽  
Vol 17 (4) ◽  
pp. 161-185
Author(s):  
Małgorzata Podolak
Keyword(s):  
Black Sea ◽  
Direct Democracy ◽  
The Black Sea ◽  
Moral Issues ◽  
Black Sea Region ◽  
Positive Effects ◽  
The Subject ◽  
Democratic Systems ◽  
Important State ◽  
Constitutional Changes

Views on the institution of direct democracy have changed during the period of democratic transition. The various advantages and positive effects of direct democracy have been confirmed by the practice of some democratic countries. Its educational and political activation value for society was also noted, without which civil society cannot form. The referendum is especially treated as the purest form of correlation between the views of society and the decisions of its representatives. In a situation where two representative bodies are present – the parliament and the president – a referendum is considered a means of resolving disputes between them in important state affairs. The referendum is nowadays becoming more than just a binding or consultative opinion on a legislative act, especially a constitution. First and foremost, it is important to see the extension of the type and scope of issues that are subject to direct voting. Apart from the traditional, i.e., constitutional changes, polarising issues that raise considerable emotion have become the subject of referenda. Problems of this type include, in particular, moral issues, membership in international organisations, and so-called ‘New Policy’. This article presents the role and importance of the referendum as an institution shaping the democratic systems of the Black Sea Region.

Enhancing Economic Growth and Government Revenue Generation in Nigeria: The Role of Diaspora Remittances

2021 ◽  
pp. 003464462110256
Author(s):  
Dal Didia ◽  
Suleiman Tahir
Keyword(s):  
Economic Growth ◽  
Parameter Estimates ◽  
Gross Domestic Product Growth ◽  
Correction Model ◽  
Vector Error Correction ◽  
Vector Error ◽  
Long Run ◽  
Short Run ◽  
The Empirical Analysis

Even though remittances constitute the second-largest source of foreign exchange for Nigeria, with a $24 billion inflow in 2018, its impact on economic growth remains unclear. This study, therefore, examined the short-run and long-run impact of remittances on the economic growth of Nigeria using the vector error correction model. Utilizing World Bank data covering 1990–2018, the empirical analysis revealed that remittances hurt economic growth in the short run while having no impact on economic growth in the long run. Our parameter estimates indicate that a 1% increase in remittances would result in a 0.9% decrease in the gross domestic product growth rate in the short run. One policy implication of this study is that Nigeria needs to devise policies and interventions that minimize the emigration of skilled professionals rather than depending on remittances that do not offset the losses to the economy due to brain drain.

scholarly journals Do Erratic Rainfalls Hamper Grain Production? Analysis of Supply Response of Rice to Price and Non-Price Factors

Agronomy ◽  
2021 ◽  
Vol 11 (8) ◽  
pp. 1463
Author(s):  
Ghulam Mustafa ◽  
Azhar Abbas ◽  
Bader Alhafi Alotaibi ◽  
Fahd O. Aldosri
Keyword(s):  
Unit Root Test ◽  
Rice Production ◽  
Vector Error Correction ◽  
Supply Response ◽  
Target Time ◽  
Vector Error ◽  
Long Run ◽  
Short Run ◽  
The Government ◽  
The Impact

Increasing rice production has become one of the ultimate goals for South Asian countries. The yield and area under rice production are also facing threats due to the consequences of climate change such as erratic rainfall and seasonal variation. Thus, the main aim of this work was to find out the supply response of rice in Malaysia in relation to both price and non-price factors. To achieve this target, time series analysis was conducted on data from 1970 to 2014 using cointegration, unit root test, and the vector error correction model. The results showed that the planted area and rainfall have a significant effect on rice production; however, the magnitude of the impact of rainfall is less conspicuous for off-season (season 2) rice as compared to main-season rice (season 1). The speed of adjustment from short-run to long-run for season-1 rice production is almost two-and-a-half years (five production seasons), while for season-2 production, it is only about one-and-a-half year (three production seasons). Consequently, the study findings imply the supply of water to be enhanced through better water infrastructure for both seasons. Moreover, the area under season 2 is continuously declining to the point where the government has to make sure that farmers are able to cultivate the same area for rice production by providing uninterrupted supply of critical inputs, particularly water, seed and fertilizers.

scholarly journals Assessing the Current Situation of the World Wheat Market Leadership: Using the Semi-Parametric Approach

Mathematics ◽  
2021 ◽  
Vol 9 (2) ◽  
pp. 115
Author(s):  
Osama Ahmed
Keyword(s):  
Futures Markets ◽  
Price Discovery ◽  
The United States ◽  
The Black Sea ◽  
Correction Model ◽  
Black Sea Region ◽  
Dynamic Copula ◽  
Wheat Market ◽  
The World ◽  
Market Leadership

This paper examines the world wheat market leadership using price discovery occurring in wheat futures markets of the United States (U.S.) and Europe. An error correction model (ECM) generalized autoregressive conditional heteroskedasticity (GARCH), and semi-parametric dynamic copula methods are used for this purpose. The results indicate a positive link between U.S. and Europe price discovery which is stronger, fluctuating less after August 2010 because of a drought occurring in the Black Sea region, and then lessens, fluctuating more after 2015 with the changing wheat trade map. Furthermore, after 2015, wheat market leadership moved from the U.S. to the European market, meaning price discovery is primarily located by the Marché à Terme International de France (MATIF) futures market.

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