Diffusion of innovations and knowledge
02.02.2009 - 27.01.2014
The aim of this study is to analyze the impact of governmental market interventions in Serbia, among them a wheat export ban, on the country’s integration into the international wheat market and the domestic wheat-to-bread supply chain during the global commodity price peaks in 2007/08 and 2010/11. By applying two regime-dependent price transmission models (i.e. Markov-switching models), we help to clarify the impact of the governmental market interventions on two different price transmission contexts: the horizontal one, where we analyze the price transmission and market integration between the Serbian and the world wheat markets; and the vertical one, where we analyze the price transmission mechanisms within the Serbian wheat-to-bread supply chain. Furthermore, we conducted simulations of flour and bread production costs and the bakers’ and retailers’ profits in order to identify who benefited from and who lost due to the extensive governmental interventions.
- Prof. Dr. Dr. Vlade Zaric (University of Belgrade, Faculty of Agriculture, Serbia)
- Prof. Dr. Natalija Bogdanov (University of Belgrade, Faculty of Agriculture, Serbia)
- Vukosav Sakovic, Serbian Grain Fund, Serbia
- Zdravko Sajatovic (Zitovojvodina – Association for the development of milling and baking industry, Serbia)
- Prof. Dr. Drago Cvijanovic (Institute of Agricultural Economics (IAE), Serbia)
Prof. Dr. Dr. h.c. mult. Thomas Glauben
Director of IAMO,
Head of Department Agricultural Markets
- IAMO Studies Vol. 76 (2014): Impact of policy measures on wheat-to-bread supply chain during the global commodity price peaks: the case of Serbia
- IAMO Policy Brief 11 (2013): Are Eastern European agricultural markets working? Beware of state-prescribed market interventions!
- IAMO Policy Brief 10 (2013): The wheat export ban in Serbia. Are export restrictions an effective instrument to dampen food price inflation?