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Food prices response to global and national factors: Evidence beyond asymmetry

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  • Omer Faruk Derindag
  • Bisharat Hussain Chang
  • Raheel Gohar
  • Wing-Keung Wong
  • Niaz Ahmed Bhutto

Abstract

The current series of studies examine how local food prices are affected by domestic and international factors. This research advances the existing body of knowledge by examining this effect at different quantiles, frequencies, and times. We use research data from January 1999 to August 2022 using three local and six global variables as independent variables. Additionally, our study uses recent econometric methods, including Wavelet Coherence, Quantile-on-Quantile Regression (QQR), and Granger Causality in Quantiles (GCQ). Moreover, this research uses the Quantile Regression (QR) approach to determine how reliable the findings are. Based on the GCQ approach, the results demonstrate that the correlation persists at most of the quantiles. Moreover, the WC results demonstrate a substantial association between local prices of food and the independent factors across various frequencies and times. Additionally, QQR estimates demonstrate that the impact of exogenous variables on food prices vary among quantiles. These findings are also supported by the QR method. Last but not least, our study offers policy suggestions obtained based on the results of this study.

Suggested Citation

  • Omer Faruk Derindag & Bisharat Hussain Chang & Raheel Gohar & Wing-Keung Wong & Niaz Ahmed Bhutto, 2023. "Food prices response to global and national factors: Evidence beyond asymmetry," Cogent Economics & Finance, Taylor & Francis Journals, vol. 11(1), pages 2187128-218, December.
    • Handle: RePEc:taf:oaefxx:v:11:y:2023:i:1:p:2187128
    DOI: 10.1080/23322039.2023.2187128
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    Citations

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    Cited by:

    1. Xiaohui GONG & Bisharat Hussain CHANG & Xi CHEN & Kaiyang ZHONG, 2023. "Asymmetric Effects of Exchange Rates on Energy Demand in E7 Countries: New Evidence from Multiple Thresholds Nonlinear ARDL Model," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(2), pages 125-142, June.
    2. Ennadifi Imane & Bisharat Hussain Chang & Tarek Abbas Elsherazy & Wing-Keung Wong & Mohammed Ahmar Uddin, 2023. "The External Exchange Rate Volatility Influence on The Trade Flows: Evidence from Nonlinear ARDL Model," Advances in Decision Sciences, Asia University, Taiwan, vol. 27(2), pages 75-98, June.
    3. Bisharat Hussain Chang & Khalil Ahmed Channa & Emmanuel Uche & Osamah Ibrahim Khalaf & Osamah Waheed Ali, 2022. "Analyzing the impacts of terrorism on innovation activity: A cross country empirical study," Advances in Decision Sciences, Asia University, Taiwan, vol. 26(Special), pages 124-161, December.
    4. Huo, Dongxia & Bagadeem, Salim & Elsherazy, Tarek Abbas & Nasnodkar, Siddhesh Prabhu & Kalra, Akash, 2023. "Renewable energy consumption and the rising effect of climate policy uncertainty: Fresh policy analysis from China," Economic Analysis and Policy, Elsevier, vol. 80(C), pages 1459-1474.
    5. Lu, Man & Chang, Bisharat Hussain & Salman, Asma & Razzaq, Muthanna G. Abdul & Uddin, Mohammed Ahmar, 2023. "Time varying connectedness between foreign exchange markets and crude oil futures prices," Resources Policy, Elsevier, vol. 86(PB).

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