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Russia’S Agricultural Import Substitution Policy: Price Volatility Effects On The Pork Supply Chain

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  • Götz, Linde
  • Jaghdani, Tinoush Jamali

Abstract

The pork sector has been at the centre of Russia’s import substitution policy. It has shown a very dynamic development reaching the government’s aim to increase self-sufficiency to 85% in 2015. However, this policy is facing several challenges. Results of a DCC-MGARCH model confirm our hypothesis that price volatility and thus risk have increased strongly in the pork supply chain in Russia. Concurrently, the volatility spill-overs between the price of slaughtered pork and the price of live swine have more than doubled, indicating increased price interdependence.

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  • Götz, Linde & Jaghdani, Tinoush Jamali, 2017. "Russia’S Agricultural Import Substitution Policy: Price Volatility Effects On The Pork Supply Chain," 57th Annual Conference, Weihenstephan, Germany, September 13-15, 2017 262003, German Association of Agricultural Economists (GEWISOLA).
    • Handle: RePEc:ags:gewi17:262003
    DOI: 10.22004/ag.econ.262003
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    References listed on IDEAS

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    1. An, Henry & Qiu, Feng & Zheng, Yanan, 2016. "How do export controls affect price transmission and volatility spillovers in the Ukrainian wheat and flour markets?," Food Policy, Elsevier, vol. 62(C), pages 142-150.
    2. Götz, Linde & Goychuk, Kateryna & Glauben, Thomas & Meyers, William H., 2013. "Export Restrictions and Market Uncertainty: Evidence from the Analysis of Price Volatility in the Ukrainian Wheat Market," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 150308, Agricultural and Applied Economics Association.
    3. Djuric, Ivan & Götz, Linde & Glauben, Thomas, 2015. "Trade diversion and high food prices - The impact of the Russian pig meat import ban," 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California 205330, Agricultural and Applied Economics Association.
    4. Djuric, Ivan & Götz, Linde & Glauben, Thomas, 2015. "Trade Diversion and High Food Prices: The Impact of the Russian Pig Meat Import Ban," 2015: Trade and Societal Well-Being, December 13-15, 2015, Clearwater Beach, Florida 229240, International Agricultural Trade Research Consortium.
    5. Nicholas Apergis & Anthony Rezitis, 2003. "Agricultural price volatility spillover effects: the case of Greece," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 30(3), pages 389-406, September.
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    Cited by:

    1. Svanidze, Miranda & Götz, Linde, 2019. "Determinants of spatial market efficiency of grain markets in Russia," Food Policy, Elsevier, vol. 89(C).
    2. Banse, Martin & Duric, Ivan & Götz, Linde & Laquai, Verena, 2019. "From the Russian food import ban to free trade from Lisbon to Vladivostok - will farmers benefit?," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 12(4), pages 20-31.
    3. Daria Loginova & Stefan Mann, 2022. "Institutional contributions to agricultural producer price stability," Agricultural and Food Economics, Springer;Italian Society of Agricultural Economics (SIDEA), vol. 10(1), pages 1-22, December.
    4. Rosero, Gabriel & Jaghdani, Tinoush Jamali & Brümmer, Bernhard, 2021. "Unravelling complex market relationships. A study on the price volatility of Brazilian pork using a DCC-MGARCH approach," 95th Annual Conference, March 29-30, 2021, Warwick, UK (Hybrid) 311090, Agricultural Economics Society - AES.
    5. Daria Loginova & Judith Irek, 2022. "Russian meat price transmission and policy interventions in 2014," Agricultural and Food Economics, Springer;Italian Society of Agricultural Economics (SIDEA), vol. 10(1), pages 1-28, December.
    6. Götz, Linde & Heigermoser, Maximilian & Jamali Jaghdani, Tinoush, 2022. "Russia's food security and impact on agri-food trade," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, pages 115-137.

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    Keywords

    Agricultural and Food Policy; International Relations/Trade; Risk and Uncertainty;
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