Russian Market Power in International Wheat Exports: Evidence from a Residual Demand Elasticity Analysis

Q3 Business, Management and Accounting

Journal of Agricultural and Food Industrial Organization Pub Date : 2018-01-10 DOI:10.1515/jafio-2016-0026

Kerstin Marit Uhl, O. Perekhozhuk, T. Glauben

引用次数: 6

Abstract

Abstract Russia has emerged as a major wheat exporter since the beginning of the 2000s, and today, it possesses high market shares in several wheat-importing countries in the Middle East and North African region. This has raised concerns that Russia might abuse its dominant market position by pricing above marginal cost. Using a novel dataset with weekly information on Russian wheat exports, we apply the residual demand elasticity method to analyze the pricing behavior of Russia in its two most important export markets, i. e. Egypt and Turkey. Our estimation results reveal that Russia behaves competitively in Egypt while it exerts market power in Turkey with an estimated mark-up of 13.5 %.

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俄罗斯在国际小麦出口中的市场力量：来自剩余需求弹性分析的证据

摘要自2000年代初以来，俄罗斯已成为主要的小麦出口国，如今，它在中东和北非地区的几个小麦进口国拥有较高的市场份额。这引发了人们的担忧，即俄罗斯可能会滥用其市场主导地位，定价高于边际成本。利用一个包含俄罗斯小麦出口每周信息的新数据集，我们应用剩余需求弹性方法分析了俄罗斯在其两个最重要的出口市场的定价行为。 e.埃及和土耳其。我们的估计结果显示，俄罗斯在埃及表现出竞争力，而在土耳其发挥市场力量，估计价格上涨13.5 %.

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Agricultural and Food Industrial Organization Business, Management and Accounting-Business, Management and Accounting (all)

CiteScore

3.10

自引率

0.00%

发文量

期刊介绍： The Journal of Agricultural & Food Industrial Organization (JAFIO) is a unique forum for empirical and theoretical research in industrial organization with a special focus on agricultural and food industries worldwide. As concentration, industrialization, and globalization continue to reshape horizontal and vertical relationships within the food supply chain, agricultural economists are revising both their views of traditional markets as well as their tools of analysis. At the core of this revision are strategic interactions between principals and agents, strategic interdependence between rival firms, and strategic trade policy between competing nations, all in a setting plagued by incomplete and/or imperfect information structures. Add to that biotechnology, electronic commerce, as well as the shift in focus from raw agricultural commodities to branded products, and the conclusion is that a "new" agricultural economics is needed for an increasingly complex "new" agriculture.