Price Transmission from International to Domestic Markets
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World Bank, Washington, DC
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This study aims to improve our understanding of the extent and speed of the transmission of
international cereal prices to local markets in developing countries. We undertake three types of
analysis. First, we extract a sample of estimated measures of cereal price transmission (PT) from a comprehensive literature sample of published papers and studies. Second, we use the FAO’s GIEWS dataset to estimate our own sample of measures of
cereal PT. In a subsequent meta-regression analysis we measure how much of the
variation in each of the resulting samples of PT estimates (the literature sample and
the GIEWS sample) can be explained by factors that might be expected to influence
the strength of PT such as whether the country in question is landlocked. Third, we present the results of simple, non-parametric analysis of price transmission
using the GIEWS data. This analysis measures the share of periods in which domestic
and international prices have jointly increased or decreased.
Palabras clave
TRANSACTIONS, EQUITY, TRANSACTION, RETAIL PRICE, EXPORT MARKETS, MARKET STRUCTURE, SUBSTITUTE, PRICE INCREASES, DOMESTIC MARKETS, INTERNATIONAL TRADE, VOLATILITY, TRANSPARENCY, RESULTS, PRICE ADJUSTMENTS, SEARCH, AGRICULTURAL PRICE, INCOME, INTEREST, MARKET PRICES, INFORMATION, DOMESTIC MARKET, DEVELOPING COUNTRIES, MONITORING, PRICE CHANGES, PRICE FLUCTUATIONS, TRANSMISSION, PRICE ADJUSTMENT, FAIR, ELECTRONIC FORM, WORLD MARKETS, SHARES, PRICING, DOMESTIC PRICE, CEREAL PRICE, CEREAL PRICES, TRANSACTION COSTS, MARKET, PRICE, TIME PERIOD, RETAIL PRICES, PRICE MOVEMENTS, RETAIL, RESULT, TRADE, INSTITUTIONS, TIME PERIODS, LINK, DOMESTIC PRICES, DATA, SECURITY, INTERNATIONAL MARKET, AGRICULTURAL COMMODITIES, BUSINESS, MARKET EQUILIBRIUM, SHARE, REGIME CHANGES, PERFORMANCE, PRICE VOLATILITY, FOOD PRICE, VOLATILITIES, PRODUCTS, PRICE VOLATILITIES, COMMODITY MARKETS, INSTITUTION, MARKET INTEGRATION, COMMODITY MARKET, MARKETING, MARKETS, COMMODITIES, LINKS, SEARCHES, PRICE SERIES, DATABASE, ARBITRAGE, FOOD PRICES, PRODUCT, BORDER PRICE, COMMODITY PRICES, OPEN ECONOMIES, COMMODITY, INTERNATIONAL MARKETS, WORLD MARKET, COUNTRY MARKETS, PRICES, MARKET PRICE, PRICE CHANGE