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 Co-integration of Groundnut Markets in India with Special Reference to Karnataka State

2020 ◽  
pp. 14-22
Author(s):  
Akshata Nayak ◽  
H. Lokesha ◽  
C. P. Gracy
Keyword(s):  
Market Integration ◽  
Unit Root Test ◽  
Groundnut Oil ◽  
Step Method ◽  
Causality Test ◽  
Price Series ◽  
Long Run ◽  
Oil Markets ◽  
Integration Test ◽  
The Government

Aims: Market integration is an indicator that explains how different markets are related to each other. The main aim of the paper is to examine the market integration of groundnut seed and oil markets in India.  Study Design: This paper examines the market integration in six major groundnut oil markets and four groundnut pod markets using monthly wholesale prices of groundnut. Methodology: Test for stationarity was done using Dickey Fuller Test. The Engle-Granger two-step method is used to test for co-integration between the variables. Johansen co-integration test was applied to analyse the long run equilibrium among the groundnut markets. Results: Unit root test indicated that the price series in each location are non-stationary at their levels and stationary at their first differences. The Granger causality test indicated that all the market pairs are well co-integrated, some of the markets have bidirectional relationship and some have unidirectional relationship at five per cent level of significance, which implies that the groundnut prices have an equally long run association. Conclusion: In overall, the study suggests that regional markets for groundnut in India are strongly co-integrated. Therefore, the Government can stabilize the price in one key market and rely on commercialization to produce a similar outcome in other markets. This reduces the cost of stabilization considerably.

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 Market integration of grain legumes in India: the case of the chickpea market

2014 ◽  
Vol 10 (2) ◽  
pp. 11-29 ◽  
Author(s):  
Amarender Reddy
Keyword(s):  
Market Integration ◽  
Price Discovery ◽  
Grain Legumes ◽  
North India ◽  
Adjustment Process ◽  
Local Market ◽  
Market Prices ◽  
Domestic Markets ◽  
Long Run ◽  
Correction Terms

The present study assesses the market integration of chickpea in India from 2003 to 2010. The month end prices of chickpea for twelve markets in north India were used for the study. Out of twelve markets, only three markets are cointegrated, indicating weak integration of chickpea markets in India. However, the terminal markets located in major consuming (Delhi) and export/import locations (Dohad/Gujarat) clearly play an important role in price discovery and influences other domestic markets indicating the relevance of the import prices and large consuming centres on local market prices. Error correction terms indicate that the adjustment process from short-term disequilibrium in prices to long run price equilibrium is very slow. Overall, there is evidence of weak cointegration in the chickpea markets in North India and imports and major consuming centres are playing an important role in price discovery in domestic chickpea markets.DOI: http://dx.doi.org/10.3329/sja.v10i2.18320 SAARC J. Agri., 10(2): 11-29 (2012)

Electricity consumption and economic growth in ASEAN

2017 ◽  
Vol 5 (2) ◽  
pp. 16
Author(s):  
Ahmad Ghazali Ismail ◽  
Arlinah Abd Rashid ◽  
Azlina Hanif
Keyword(s):  
Economic Growth ◽  
Energy Use ◽  
Electricity Consumption ◽  
Panel Estimation ◽  
Real Gdp ◽  
Long Run ◽  
Bidirectional Relationship ◽  
Short Run ◽  
Using Data ◽  
The Relationship

The relationship and causality direction between electricity consumption and economic growth is an important issue in the fields of energy economics and policies towards energy use. Extensive literatures has discussed the issue, but the array of findings provides anything but consensus on either the existence of relations or direction of causality between the variables. This study extends research in this area by studying the long-run and causal relations between economic growth, electricity consumption, labour and capital based on the neo-classical one sector aggregate production technology mode using data of electricity consumption and real GDP for ASEAN from the year 1983 to 2012. The analysis is conducted using advanced panel estimation approaches and found no causality in the short run while in the long-run, the results indicate that there are bidirectional relationship among variables. This study provides supplementary evidences of relationship between electricity consumption and economic growth in ASEAN.

Macroeconomic Determinants of Stock Market Prices in Nepal

2020 ◽  
Vol 2 (1) ◽  
pp. 56-65
Author(s):  
Bhim Prasad Panta
Keyword(s):  
Exchange Rate ◽  
Interest Rate ◽  
Stock Market ◽  
Money Supply ◽  
Developing Economies ◽  
Annual Data ◽  
Economic Variables ◽  
Market Prices ◽  
Ardl Model ◽  
Long Run

Background: Stock market plays a crucial role in the financial system of a country. It can be viewed as a channel through which resources are properly channelized. It enables the governments and industry to raise long-term capital for financing new projects. The stock markets of developing economies are likely to be sensitive to various macro-economic factors such as GDP, imports, exports, exchange rates etc., when there is high demand on financial products, as a constituent of financial market, ultimately stock market needs to develop. Many factors can be a signal to stock market participants to expect a higher or lower return when investing in stock and one of these factors are macroeconomic variables and thus, macro-economic variables tend to effect on stock market development. Objective: This study examines the linkage between stock market prices (NEPSE index) and five macro-economic variables, namely; real GDP, broad money supply, interest rate, inflation, and exchange rate using ARDL model and to explain the behavior of the Nepal Stock Exchange Index. Methods: The ECM which is delivered from ARDL model through simple linear transformation to integrate short run adjustments with long run equilibrium without losing long run information. The analysis has been done by using 25 years' annual data from 1994 to 2019. Findings: The result suggests that the fluctuation of Nepse Index in long run is strongly associated with broad money supply, interest rate, inflation, and exchange rate. Conclusion: Though Nepalese stock market is in primitive stage, broad money supply, interest rate, inflation and exchange rate are major factors affecting stock market price of Nepal. So, policies and strategies should be made and directed taking these in to consideration. Implication: The findings of research can be helpful to understand the behavior of Nepalese stock market and develop policies for market stabilization.

North Macedonian crisis spurs move to renewable energy

2022 ◽  
Keyword(s):  
Power Plants ◽  
International Market ◽  
Well Being ◽  
Global Market ◽  
Market Prices ◽  
Content Type ◽  
Market Situation ◽  
The Government ◽  
Domestic Electricity ◽  
Health And Well Being

Significance Electricity companies wanted a near-38% rise amid soaring international market prices, but the ERC wanted to avoid a price shock. In November, the government declared an ‘energy crisis’ at the ERC’s request, thanks to reduced domestic electricity supply and the global market situation, and extended it in December for six months. Impacts Investment in infrastructure and technologies should contribute to economic growth and create jobs. Care will have to be taken that closing established mines and power plants do not depress economies locally and raise unemployment. Rising domestic utility prices will inflict political damage on a fragile government. Phasing out coal will improve air quality and population health and well-being, with knock-ons for healthcare priorities and spending.

scholarly journals The Dynamic Relationship between Crude Oil Prices and Stock Market Price Volatility in Nigeria: A Cointegrated VAR-GARCH Model

2019 ◽  
pp. 1-12
Author(s):  
David Adugh Kuhe
Keyword(s):  
Stock Market ◽  
Crude Oil ◽  
Market Price ◽  
Garch Model ◽  
Price Volatility ◽  
Oil Prices ◽  
Market Prices ◽  
Dynamic Relationship ◽  
Crude Oil Prices ◽  
Long Run

This study investigates the dynamic relationship between crude oil prices and stock market price volatility in Nigeria using cointegrated Vector Generalized Autoregressive conditional Heteroskedasticity (VAR-GARCH) model. The study utilizes monthly data on the study variables from January 2006 to April 2017 and employs Dickey-Fuller Generalized least squares unit root test, simple linear regression model, unrestricted vector autoregressive model, Granger causality test and standard GARCH model as methods of analysis. Results shows that the study variables are integrated of order one, no long-run stable relationship was found to exist between crude oil prices and stock market prices in Nigeria. Both crude oil prices and stock market prices were found to have positive and significant impact on each other indicating that an increase in crude oil prices will increase stock market prices and vice versa. Both crude oil prices and stock market prices were found to have predictive information on one another in the long-run. A one-way causality ran from crude oil prices to stock market prices suggesting that crude oil prices determine stock prices and are a driven force in Nigerian stock market. Results of GARCH (1,1) models show high persistence of shocks in the conditional variance of both returns. The conditional volatility of stock market price log return was found to be stable and predictable while that of crude oil price log return was found to be unstable and unpredictable, although a dependable and dynamic relationship between crude oil prices and stock market prices was found to exist. The study provides some policy recommendations.

M&A vs. Greenfield

2018 ◽  
pp. 169-185
Author(s):  
Sana Moid
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Mergers And Acquisitions ◽  
Empirical Evidence ◽  
International Market ◽  
Time Effect ◽  
Entry Modes ◽  
Host Countries ◽  
Bidirectional Relationship ◽  
The Right

The chapter has raised two critically important questions. First, is the M&A boom a one-time effect of privatization, or is it likely to be followed by a rise in Greenfield investment? Second, do these two types of FDI mode have different macroeconomic consequences in terms of aggregate investment and growth? The main purpose of this chapter is to analyze the two entry modes, mergers and acquisitions and Greenfield investment, specifically, and to present a comparative view of the same and how it leads to the economic growth of a nation. It is concluded that one should choose the right mode according to the different situation about the firms in the international market. The present chapter also concludes that Greenfields and M&As do have a positive homogenous effect on growth. Additionally, the enhancement of human capital is an important condition for the host countries to derive the maximum benefits from Greenfields and M&As. Also, there is empirical evidence of a two-way linkage between FDI and growth. However, the bidirectional relationship exists only for the M&A's growth nexus.

The Politics of High Food Prices

Food Politics ◽  
2013 ◽  
Author(s):  
Robert Paarlberg
Keyword(s):  
International Market ◽  
Food Prices ◽  
High Food ◽  
Political Issue ◽  
Market Prices

When did high food prices become a political issue? Most recently high food prices became an intense political issue in 2007–2008, when international market prices for rice, wheat, and corn all spiked sharply upward at the same time. By April 2008, the price of maize...

scholarly journals Relationship Among Economic Growth, Energy Consumption, CO2 Emission, and Urbanization: Evidence From MINT Countries

SAGE Open ◽  
2020 ◽  
Vol 10 (2) ◽  
pp. 215824402091464 ◽  
Author(s):  
Jamiu Adetola Odugbesan ◽  
Husam Rjoub
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Potential Growth ◽  
Urbanization Level ◽  
Development Indicators ◽  
Long Run ◽  
Bidirectional Relationship ◽  
Sustainable Urbanization ◽  
Growth Energy ◽  
Yearly Data

This study aimed at examining the synergy among economic growth, carbon dioxide (CO2) emissions, urbanization, and energy consumption in MINT (Mexico, Indonesia, Nigeria, and Turkey) countries. Yearly data from 1993 to 2017, which were sourced from World Bank Development Indicators, were employed, and the analysis was performed by employing the ARDL Bounds test approach. The findings from the study reveal that the energy–growth hypothesis that assumed unidirectional causality from energy consumption was true for Nigeria and Indonesia, whereas Mexico and Turkey followed the feedback hypothesis, which indicates a bidirectional relationship. Meanwhile, all the MINT countries show a long-run relationship from economic growth, energy consumption, and CO2 emissions to urbanization. The study suggests that the policymakers in MINT countries should develop an energy conservation policy that will enhance the potential growth of their economy. More so, there is a need to promote green industries. Finally, to ensure sustainable urbanization in MINT countries, concerted efforts need to be made to ensure the reduction in the urbanization level, so as to ensure the sustainability of the urbanization, but without compromising the economic growth, through the formulation of policies that will ensure the decrease in CO2 emissions to achieve quality environment.

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