Pricing to Market with Transactions Denominated in a Common Currency

Pick, Daniel; Carter, Colin A.

doi:10.2307/1243920

Cited by 40 publications

(29 citation statements)

References 8 publications

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“…In general, we found less PTM for Russian wheat exporters than other studies for the USA and Canada (e.g. Pick and Park, 1991; Pick and Carter, 1994; Jin, 2008; Jin and Miljkovic, 2008). There are several reasons why the pricing behaviour of Russian wheat exporters might differ from their competitors, the USA and Canada, reported by previous studies.…”

Section: Estimation Results and Discussioncontrasting

confidence: 69%

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Are Russian Wheat Exporters Able to Price Discriminate? Empirical Evidence from the Last Decade

Pàll¹,

Perekhozhuk²,

Teuber³

et al. 2013

J Agricultural Economics

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Significant changes have taken place in the world wheat market in the last decade. Russia, a former net wheat importer, has become a leading exporter with a world market share of 11.2% in 2009. This increasing importance and the discussion about the establishment of a grain‐OPEC consisting of Ukraine, Kazakhstan and Russia has raised the issue of pricing behaviour of Russian wheat exporters. Although there are several studies on the pricing behaviour of Canadian and US wheat exporters, there is none so far for Russian wheat exporters. This study provides a quantitative analysis of the pricing behaviour of Russian wheat exporters, explicitly taking account of the export tax imposed between 2007 and 2008. We employ a pricing‐to‐market (PTM) model on quarterly Russian wheat‐export data, covering the period from 2002 to 2010 and 25 export destinations. Our findings indicate that (i) Russian wheat exporters exercised PTM in only a few importing countries over the whole time period, and (ii) PTM behaviour was more pronounced in the aftermath of the export tax period (i.e. 2008–2010) than before.

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Section: Estimation Results and Discussioncontrasting

confidence: 69%

“… Source: Own compilation based on Pick and Park (1991), Pick and Carter (1994), Carew and Florkowski (2003), Lavoie (2005), Jin (2008), Jin and Miljkovic (2008), USDA (2010), World Bank (2009) and own results. …”

Section: Estimation Results and Discussionmentioning

confidence: 99%

Are Russian Wheat Exporters Able to Price Discriminate? Empirical Evidence from the Last Decade

Pàll¹,

Perekhozhuk²,

Teuber³

et al. 2013

J Agricultural Economics

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show abstract

“…Recent studies have shown that this is a problematic assumption (Abbott and Kallio (1996), Pick and Carter (1994), and Veeman et al (1999). Much of the world grain trade controlled by five multinationals -including Cargill and Louis Dreyfus, international grain traders frequently 'price to market.'…”

Section: Trade Friction In the North American Market For Wheatmentioning

confidence: 99%

What Does the Future Hold for the Canadian Wheat Board? Trade Friction, Dispute Settlement and State Support for Agriculture in North America

Froese

2008

SSRN Journal

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This paper examines the substance of the WTO panel decision for Canada-Wheat as it relates to the ongoing debate about the future of the Canadian Wheat Board. In this case, the WTO upheld the legality of Canada's marketing board for wheat and barley. The decision suggests that trade discipline may play less of a role in Canada's ongoing adjustment processes than other factors such as proximity to American markets and other competitive pressures that result from exposure to global markets. Furthermore, in aggregate terms, Canada and the US have been adjusting levels of support downwards over the past decade. What then is the future of the CWB? Dismantling the CWB may fit Canada's long-term industrial development pattern. However, in the immediate future the federal government must carefully consider the implications of removing programs that provide security for domestic producers -especially in light of aggressively protectionist sentiment in the American agriculture sector.

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“…Knetter's model has since been used extensively, due to its simplicity and data availability, to determine the presence of price discrimination in international trade. This approach has been particularly popular in the study of food and agricultural exports (e.g., Pick and Park 1991;Pick and Carter 1994;Griffith and Mullen 2001;Carew and Florkowski 2003;and Glauben and Loy 2003), automobile exports (e.g., Knetter 1989Knetter , 1993Marston 1990;Gagnon and Knetter 1995), and in a wide range of other industries.1…”

Section: Pricing-to-market: Price Discrimination or Product Differentmentioning

confidence: 99%

Pricing-to-Market: Price Discrimination or Product Differentiation?

Lavoie

Liu

2006

SSRN Journal

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Pricing to Market with Transactions Denominated in a Common Currency

Cited by 40 publications

References 8 publications

Are Russian Wheat Exporters Able to Price Discriminate? Empirical Evidence from the Last Decade

Are Russian Wheat Exporters Able to Price Discriminate? Empirical Evidence from the Last Decade

What Does the Future Hold for the Canadian Wheat Board? Trade Friction, Dispute Settlement and State Support for Agriculture in North America

Pricing-to-Market: Price Discrimination or Product Differentiation?

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