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Global Financial and Food Price Crisis: A Double Shock on ASEAN Food Security

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  • Wana, Chayoot
  • Andreosso-O'Callaghan, Bernadette

Abstract

The food price crisis that occurred in the mid-2000s and the global financial crisis that transpired in 2008 had an enduring impact on developing and emerging countries where investment growth rates have declined sharply. Food insecurity has also become an important concern. Using a food security assessment model, an analysis of the medium- to long-term repercussions of the food price and global financial crises on ASEAN food security revealed that the effects of the food price crisis are expected to be more negative than those of the global financial crisis. When a financial crisis occurs in the USA and Europe, investment flows to emerging markets, suggesting that countries like Lao PDR, Singapore, Thailand, and Vietnam benefit from it. However, when a global financial crisis occurs, other ASEAN countries like Cambodia, Indonesia, Malaysia, and the Philippines are negatively affected

Suggested Citation

  • Wana, Chayoot & Andreosso-O'Callaghan, Bernadette, 2017. "Global Financial and Food Price Crisis: A Double Shock on ASEAN Food Security," Asian Journal of Agriculture and Development, Southeast Asian Regional Center for Graduate Study and Research in Agriculture (SEARCA), vol. 14(01), June.
    • Handle: RePEc:ags:phajad:259245
    DOI: 10.22004/ag.econ.259245
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    References listed on IDEAS

    as
    1. Barry DESKER & Mely CABALLERO-ANTHONY & Paul TENG, 2013. "Thouhgt/Issues Paper on ASEAN Food Security: Towards a more Comprehensive Framework," Working Papers DP-2013-20, Economic Research Institute for ASEAN and East Asia (ERIA).
    2. Justin Yifu Lin & Will Martin, 2010. "The financial crisis and its impacts on global agriculture," Agricultural Economics, International Association of Agricultural Economists, vol. 41(s1), pages 133-144, November.
    3. M. Bruna Zolin & Bernadette Andreosso O�Callaghan, 2010. "Long-term cereal price changes: how important is the speculative element," Working Papers 2010_23, Department of Economics, University of Venice "Ca' Foscari".
    4. Morales, Lucía & Andreosso-O’Callaghan, Bernadette, 2012. "The current global financial crisis: Do Asian stock markets show contagion or interdependence effects?," Journal of Asian Economics, Elsevier, vol. 23(6), pages 616-626.
    5. Bernadette Andreosso-O’Callaghan & M. Zolin, 2010. "Long-term Cereal Price Changes: How Important is the Speculative Element?," Transition Studies Review, Springer;Central Eastern European University Network (CEEUN), vol. 17(4), pages 624-637, December.
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    Cited by:

    1. Viet HOANG, 2018. "Assessing the agricultural trade complementarity of the Association of Southeast Asian Nations countries," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 64(10), pages 464-475.
    2. Gregory J. Scott & Athanasios Petsakos & Henry Juarez, 2019. "Climate change, food security, and future scenarios for potato production in India to 2030," Food Security: The Science, Sociology and Economics of Food Production and Access to Food, Springer;The International Society for Plant Pathology, vol. 11(1), pages 43-56, February.

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