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Determinants of International Volatility Passthroughs of Agricultural Commodities: A Panel Analysis of Developing Countries
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</div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Paper Count:</strong> 87402</div> </div> </div> </div> <div class="card publication-listing mt-3 mb-3"> <h5 class="card-header" style="font-size:.9rem">Determinants of International Volatility Passthroughs of Agricultural Commodities: A Panel Analysis of Developing Countries</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Tetsuji%20Tanaka">Tetsuji Tanaka</a>, <a href="https://publications.waset.org/abstracts/search?q=Jin%20Guo"> Jin Guo</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The extant literature has not succeeded in uncovering the common determinants of price volatility transmissions of agricultural commodities from international to local markets, and further, has rarely investigated the role of self-sufficiency measures in the context of national food security. We analyzed various factors to determine the degree of price volatility transmissions of wheat, rice, and maize between world and domestic markets using GARCH models with dynamic conditional correlation (DCC) specifications and panel-feasible generalized least square models. We found that the grain autarky system has the potential to diminish volatility pass-throughs for three grain commodities. Furthermore, it was discovered that the substitutive commodity consumption behavior between maize and wheat buffers the volatility transmissions of both, but rice does not function as a transmission-relieving element, either for the volatilities of wheat or maize. The effectiveness of grain consumption substitution to insulate the pass-throughs from global markets is greater than that of cereal self-sufficiency. These implications are extremely beneficial for developing governments to protect their domestic food markets from uncertainty in foreign countries and as such, improves food security. <iframe src="https://publications.waset.org/abstracts/101522.pdf" style="width:100%; height:400px;" frameborder="0"></iframe> <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=food%20security" title="food security">food security</a>, <a href="https://publications.waset.org/abstracts/search?q=GARCH" title=" GARCH"> GARCH</a>, <a href="https://publications.waset.org/abstracts/search?q=grain%20self-sufficiency" title=" grain self-sufficiency"> grain self-sufficiency</a>, <a href="https://publications.waset.org/abstracts/search?q=volatility%20transmission" title=" volatility transmission"> volatility transmission</a> </p> <a href="https://publications.waset.org/abstracts/101522/determinants-of-international-volatility-passthroughs-of-agricultural-commodities-a-panel-analysis-of-developing-countries" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/101522.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">155</span> </span> </div> </div> </div> </main> <footer> <div id="infolinks" class="pt-3 pb-2"> <div class="container"> <div style="background-color:#f5f5f5;" class="p-3"> <div class="row"> <div class="col-md-2"> <ul class="list-unstyled"> About <li><a href="https://waset.org/page/support">About Us</a></li> <li><a href="https://waset.org/page/support#legal-information">Legal</a></li> <li><a target="_blank" rel="nofollow" href="https://publications.waset.org/static/files/WASET-16th-foundational-anniversary.pdf">WASET celebrates its 16th foundational 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