Market Integration and Price Transmission in Tajikistan's Wheat Markets: Rising Like Rockets but Falling Like Feathers?

32 Pages Posted: 12 Aug 2016

See all articles by Jarilkasin Ilyasov

Jarilkasin Ilyasov

International Food Policy Research Institute (IFPRI)

Linde Götz

Leibniz Institute of Agricultural Development in Transition Economies (IAMO)

Akramov Kamiljon

International Food Policy Research Institute (IFPRI)

Paul Dorosh

International Food Policy Research Institute (IFPRI)

Thomas Glauben

Leibniz Institute of Agricultural Development in Transition Economies (IAMO)

Date Written: August 5, 2016

Abstract

The extent of market integration and transmission of food price shocks is a major determinant of price stability and overall food security, particularly in developing countries. Few studies have examined these issues for countries in Central Asia, however. This paper aims to fill this gap by examining wheat market integration and price transmission in Tajikistan, the most food-insecure country in Central Asia. In particular, in this study we measure how well wheat market prices in Tajikistan are integrated with international and regional markets, as well as domestically with each other. Subsequently, we assess the nature of price transmission between these markets. Using horizontal price transmission analysis and asymmetric price relationships, a.k.a. rockets and feathers, we demonstrate how prices change in peripheral food-shortage markets compared to markets located in zones with abundant local production.

Keywords: Tajikistan; Central Asia; Asia; food security; markets; prices; agricultural policies; food policies; wheats; commodities; market prices; market access; price transmission

JEL Classification: Q11, Q18

Suggested Citation

Ilyasov, Jarilkasin and Götz, Linde and Kamiljon, Akramov and Dorosh, Paul and Glauben, Thomas, Market Integration and Price Transmission in Tajikistan's Wheat Markets: Rising Like Rockets but Falling Like Feathers? (August 5, 2016). IFPRI Discussion Paper 1547, Available at SSRN: https://ssrn.com/abstract=2820162

Jarilkasin Ilyasov (Contact Author)

International Food Policy Research Institute (IFPRI) ( email )

2033 K Street, NW
Washington, DC 20006
United States

Linde Götz

Leibniz Institute of Agricultural Development in Transition Economies (IAMO) ( email )

United States

HOME PAGE: http://https://www.iamo.de/en/

Akramov Kamiljon

International Food Policy Research Institute (IFPRI) ( email )

1201 Eye St, NW,
Washington, DC 20005
United States

Paul Dorosh

International Food Policy Research Institute (IFPRI) ( email )

1201 Eye St, NW,
Washington, DC 20005
United States
+1 202-862-5600 (Phone)
+1 202-467-4439 (Fax)

HOME PAGE: http://www.ifpri.org/

Thomas Glauben

Leibniz Institute of Agricultural Development in Transition Economies (IAMO) ( email )

Theodor-Lieser-Str.2
Halle, 06120
Germany

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