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dc.contributor.authorAlom, F.en
dc.contributor.authorWard, Bert D.en
dc.contributor.authorHu, Baidingen
dc.date.accessioned2012-06-11T03:46:36Z
dc.date.issued2011en
dc.identifier.citationAlom, F., Ward, B. & Hu, B. (2011). Spillover effects of world oil prices on food prices: evidence for Asia and Pacific countries. In Proceedings of the 52nd Annual Conference New Zealand Association of Economists, 29 June -1 July 2011. Wellington. New Zealand Association of Economists.en
dc.identifier.urihttps://hdl.handle.net/10182/4526
dc.description.abstractThis study investigates the mean and volatility spillover effects of World oil prices on food prices for selected Asia and Pacific countries including Australia, New Zealand, South Korea, Singapore, Hong Kong, Taiwan, India and Thailand. The research employs vector autoregression (VAR) and GARCH-family models using daily observations for the 2 January 1995 to 30 April 2010 period, splitting the data into two subsamples 1995-2001 and 2002-2010. The major empirical findings of the study are as follows. World oil prices positively influence food prices of the selected countries both in mean and in volatility, though the magnitudes of effects differ from country to country for different time periods. The effects are found mostly in the short run but not in the long run. Stronger mean and volatility spillover effects are found for the more recent subsample period suggesting increasing interdependence between World oil and Asia Pacific food markets in recent times. In terms of mean spillover effects net food importer countries’ food price show stronger effects to the shocks, whereas in terms of volatility spillover effects no distinction in absorbing the World oil shocks can be made between exporters and importers. The findings suggest that oil prices should be taken into consideration in policy preparation and forecasting purposes for food prices.en
dc.language.isoenen
dc.publisherNew Zealand Association of Economistsen
dc.relationThe original publication is available from - New Zealand Association of Economistsen
dc.rightsCopyright © The Authors.en
dc.source52nd Annual Conference of the New Zealand Association of Economistsen
dc.subjectoil priceen
dc.subjectfood priceen
dc.subjectvolatilityen
dc.subjectspilloveren
dc.subjectAsia Pacificen
dc.subjectmeanen
dc.titleSpillover effects of world oil prices on food prices: evidence for Asia and Pacific countriesen
dc.typeConference Contribution - Published
lu.contributor.unitLincoln Universityen
lu.contributor.unitFaculty of Agribusiness and Commerceen
lu.contributor.unitDepartment of Financial and Business Systemsen
lu.contributor.unitDepartment of Global Value Chains and Tradeen
pubs.finish-date2011-07-01en
pubs.notesPaper presented at the 52nd Annual Conference of the New Zealand Association of Economists, 29 June - 1 July 2011, Wellington.en
pubs.organisational-group/LU
pubs.organisational-group/LU/Faculty of Agribusiness and Commerce
pubs.organisational-group/LU/Faculty of Agribusiness and Commerce/FABS
pubs.organisational-group/LU/Faculty of Agribusiness and Commerce/GVCT
pubs.organisational-group/LU/Research Management Office
pubs.organisational-group/LU/Research Management Office/QE18
pubs.publication-statusPublisheden
pubs.start-date2011-06-29en
lu.identifier.orcid0000-0002-0991-1375
lu.subtypeConference Paperen


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