Competitive Structure of Kazakhstan, Russia and Ukraine in World Wheat Market: Gravity Model Approach
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Due to an increase in export shares of Kazakhstan, Russia and Ukraine (KRU) the competition in global wheat market has become more intense during the last decade. Hence, this study aims to analyze the market structure of KRU over the period 2004-2010. By using the gravity trade model and Poisson Pseudo Maximum Likelihood (PPML) estimation method, this study confirms that the emergence of KRU increases the competition in international wheat market. The other main finding is that there is no evidence of market power of KRU wheat exporters over the South Caucasian and Central Asian countries.