Is the interest rate more important than inventories? The case of agricultural commodities in the context of the financialization process

Thomasz, Esteban Otto; Massot, Juan Miguel; Rondinone, Gonzalo

doi:10.17533/udea.le.n85a04

Cited by 6 publications

(3 citation statements)

References 24 publications

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“…Estas caídas del PIB influyen en el valor de los bienes y servicios, además en las exportaciones -especialmente de los productos no tradicionales agrícolas-y afecta a la economía nacional. Como lo argumentan Thomasz et al, (2016), la dependencia de las exportaciones a productos primarios aumenta la vulnerabilidad macroeconómica de los países en desarrollo, ampliando la volatilidad de la tasa de crecimiento, reducción en la tasa de crecimiento a largo plazo y riesgos en la balanza de pagos. El valor agregado bruto del sector agropecuario concentra el 9,63% del Producto Interno Bruto (Banco Central del Ecuador, s.f.…”

Section: Mercado De Las Materias Primas En Ecuadorunclassified

La cadena de valor del maíz amarillo duro ecuatoriano. Retos y oportunidades

Aroca

Río²,

Gallardo³

et al. 2022

Lect. Econ.

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La cadena de valor consiste en una serie de acciones requeridas para obtener un producto o servicio; añadido valor al producto trae consigo beneficios a quienes lo producen. El objetivo de este artículo es describir las condiciones de la cadena de valor del maíz duro en Ecuador. La metodología se basa en una revisión crítica de la información documental y análisis de informaciones institucionales que describen el desempeño de los mercados de la materia prima agrícolas, la comercialización de estos actores, el funcionamiento de la cadena de valor del maíz en Ecuador y las estrategias para este producto. Uno de los resultados se plantea dentro del contexto de desarrollo del maíz ecuatoriano y sus ventajas, debido a la situación que tienen los principales exportadores en América. El apoyo que brinda el Estado a los actores sociales involucrados en la organización de la producción de maíz debe ser aprovechada a través del desarrollo de la cadena de valor.

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Section: Mercado De Las Materias Primas En Ecuadorunclassified

La cadena de valor del maíz amarillo duro ecuatoriano. Retos y oportunidades

Aroca

Río²,

Gallardo³

et al. 2022

Lect. Econ.

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“…Isolating global commodities prices fluctuations due to specific climate events require a deep econometric analysis. Different approaches to evaluate impact on commodity prices can be consulted in Cashin et al (2014), Arteaga et al (2013) and Thomasz et al (2016). This research studies the economic impact on the agricultural sector.…”

Section: Theoretical Frameworkmentioning

confidence: 99%

The economic cost of extreme and severe droughts in soybean production in Argentina

Thomasz

Vilker

Rondinone

2018

CyA

Self Cite

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The objective of this study is to estimate the economic cost of droughts on soybean production in Argentina. By means of a linear model, extreme negative deviations in soybean yields during 1970-2016 are identified. It was found that in all cases extreme deviations in yields are related to severe and extreme droughts according to the palmer index. Constructing a counterfactual scenario and by means of the international soybean price, the economic loss is valued. It was found that in the aggregated sample the income loss due to drought events was of $8.046 million in dollars of 2016, equivalent to 22% of Argentinean international reserves of that year.

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“…From unindustrialized countries to developed markets around the world, commodity prices have a great influence on the undercurrents of economic activity. Their intercontinental trade represents one-quarter of the world's merchandise exchange (Thomasz, Massot, & Rondinone, 2016).…”

Section: Introductionmentioning

confidence: 99%

Time Series Modeling of Dynamic Responses of Commodity Prices to Monetary Policy Shocks in Ghana

Boateng¹,

Yeboah²,

Otoo³

et al. 2020

JFRM

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The Vector Error Correction (VEC) model was used to assess the impact of monetary policy rate on commodity prices in Ghana. Monthly data on monetary policy rate, commodity prices of cocoa, gold and crude oil from January 2005 to December 2017 obtained from the Bank of Ghana was used for the study. The estimated VEC model aided in establishing long and short run relationships between monetary policy rates and the major commodity prices in Ghana. The study revealed that in the long run, monetary policy rates are negatively correlated to crude oil prices, positively correlated to both cocoa prices and gold prices but to a little extent. It was also evident from the study that in the short run, the first lag of monetary policy rate is negatively related to itself and the second lag of monetary policy rate is positively related to itself. Additionally, the first and second lagged periods of cocoa price have positive influence on monetary policy rate in the short run, but the first and second lagged periods of gold price have negative influence on monetary policy rates in the short run. The Granger causality test also reveals that the movement of cocoa prices in Ghana can be explained to cause the movement of monetary policy rates and gold prices in short run. A positive shock in monetary policy rate will have a positive and persistent effect on itself. Likewise, positive shock in monetary policy rate will have a positive and persistent effect on cocoa prices. The response generated from a positive shock on monetary policy rate has a persistent and decreasing effect on both crude oil and gold prices.

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Is the interest rate more important than inventories? The case of agricultural commodities in the context of the financialization process

Abstract: Is the interest rate more important than inventories? The case of agricultural commodities in the context of the financialization process Abstract: In the context of the "Asian economic miracle ", changes in commodity prices between 2004 and 2014

Cited by 6 publications

References 24 publications

La cadena de valor del maíz amarillo duro ecuatoriano. Retos y oportunidades

La cadena de valor del maíz amarillo duro ecuatoriano. Retos y oportunidades

The economic cost of extreme and severe droughts in soybean production in Argentina

Time Series Modeling of Dynamic Responses of Commodity Prices to Monetary Policy Shocks in Ghana

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