Inflation Co-Movement in Emerging and Developing Asia: The Monsoon Effect

Inflation Co-Movement in Emerging and Developing Asia: The Monsoon Effect
Author: Patrick Blagrave
Publisher: International Monetary Fund
Total Pages: 28
Release: 2019-07-11
Genre: Business & Economics
ISBN: 1498326323

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Co-movement (synchronicity) in inflation rates among a set of 13 emerging and developing countries in Asia is shown to be strongest for the food component, partly due to common rainfall shocks—a result which the paper terms the ‘monsoon effect.’ Economies with higher trade integration and co-movement in nominal effective exchange rates also experience greater food-inflation co-movement. By contrast, cross-country co-movement in core inflation is weak and the aforementioned determinants have little explanatory power, suggesting a prominent role for idiosyncratic domestic factors in driving core inflation. In the context of the growing literature on the globalization of inflation, these results suggest that common weather patterns are partly responsible for any role played by a so-called ‘global factor’ among inflation rates in emerging and developing economies, in Asia at least.

The Determinants of Food Prices

The Determinants of Food Prices
Author: Henna Ahsan
Publisher:
Total Pages: 40
Release: 2011
Genre: Agricultural prices
ISBN:

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Global Food Price Inflation and Developing Asia

Global Food Price Inflation and Developing Asia
Author: Asian Development Bank
Publisher: Asian Development Bank
Total Pages: 72
Release: 2011-03-01
Genre: Political Science
ISBN: 9290922826

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The specter of high commodity prices has recently reemerged, with global food prices registering a new peak in February 2011, triggered mainly by production shortfalls due to bad weather. The 30% hike in international food prices has translated to an average domestic food price inflation in developing Asia of about 10%. This could push an additional 64.4 million Asians into poverty, or lead to a 1.9 percentage point increase in poverty incidence based on the $1.25-a-day poverty line. The frequency with which food price spikes have occurred in recent years suggests that short- and long-term solutions need to be implemented to secure food supplies for the world's growing population.

Food Price Policy in Asia

Food Price Policy in Asia
Author: Terry Sicular
Publisher: Cornell University Press
Total Pages: 323
Release: 2019-05-15
Genre: Political Science
ISBN: 1501746251

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This book sheds light on the causes and effects of food price policy during the development process by examining it in a variety of settings—in Asian countries that range from large to small, and include food importers and exporters, protectionists and free marketers, capitalists and socialists.

International Trade and Food Security

International Trade and Food Security
Author: Michael Ewing-Chow
Publisher: Edward Elgar Publishing
Total Pages: 231
Release: 2016-01-29
Genre: Business & Economics
ISBN: 1785361899

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Food security is one of the greatest challenges of our time. The food price crisis of 2008 exposed the vulnerabilities of the global food system. Governments across Asia acerbated the crisis by imposing export restrictions based on a policy of self-sufficiency. This book assesses whether self-sufficiency is an adequate response to the food security challenges we face. Pricing volatility drives isolationism at a time when climate change and increasingly uncertain weather patterns make it difficult for any single nation to guarantee adequate food production for itself. Through a collection of commissioned studies which draw upon the experience of leading experts and scholars in trade, investment, law, economics, and food policy, this book analyses the impact of this trend on the most essential crop in the Asian region - rice. It suggests that food security policy should be reconceptualised: from the national to the regional and even the global level. It also provides its own proposals as to how this new paradigm of collective food security should be understood and developed. The book calls for a new conversation in the region, acknowledging that the challenges we face are global and the solutions must be found in collective action. This state-of-the-art study will appeal to lawyers, economists and political scientists, as well as food security specialists by providing expert analyses and enlightening solutions for the future.

Determinants of Consumer Price Inflation Versus Producer Price Inflation in Asia

Determinants of Consumer Price Inflation Versus Producer Price Inflation in Asia
Author: Juthathip Jongwanich
Publisher:
Total Pages: 38
Release: 2016
Genre:
ISBN:

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We empirically examine and compare the determinants of producer and consumer price inflation in 10 Asian economies during 2000-2015. In this connection, we also investigate the pass-through of global oil prices, global food prices, and exchange rates to domestic producer and consumer prices. Overall, we find that cost-push factors such as oil and food prices are more important in explaining producer price inflation than consumer price inflation in the 10 Asian economies. On the other hand, for consumer prices, demand-pull factors still explain much of the inflation. Finally, we find that the pass-through of global oil prices, global food prices, and exchange rates tend to be higher for producer prices than consumer prices in Asia.

Food Price Volatility and Its Implications for Food Security and Policy

Food Price Volatility and Its Implications for Food Security and Policy
Author: Matthias Kalkuhl
Publisher: Springer
Total Pages: 620
Release: 2016-04-12
Genre: Business & Economics
ISBN: 3319282018

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This book provides fresh insights into concepts, methods and new research findings on the causes of excessive food price volatility. It also discusses the implications for food security and policy responses to mitigate excessive volatility. The approaches applied by the contributors range from on-the-ground surveys, to panel econometrics and innovative high-frequency time series analysis as well as computational economics methods. It offers policy analysts and decision-makers guidance on dealing with extreme volatility.

Food Prices and Inflation in Developing Asia

Food Prices and Inflation in Developing Asia
Author: Asian Development Bank
Publisher:
Total Pages: 50
Release: 2008
Genre: Asian Development Bank
ISBN:

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"The recent spike in global food prices and the short-sighted policy responses that accentuate volatility in prices threaten to push large numbers of people back below the poverty line--including many millions in developing Asia. Structural forces augmented by adverse cyclical events have put food prices on an upward trajectory that will not end soon. Unless trade is kept open and relative prices are allowed to reflect market scarcity, severe consequences will emerge. In the immediate future, carefully targeted assistance to the poor will be essential--both in terms of food and inputs necessary to increase food production in the coming crop season. A reevaluation of investment priorities and feasibility of agricultural projects must be undertaken in light of these price developments, accompanied by stronger efforts to boost agricultural productivity growth in order to mitigate any longer-term rise in food prices."--Abstract.

Inflation in Developing Asia

Inflation in Developing Asia
Author: Juthathip Jongwanich
Publisher:
Total Pages: 0
Release: 2015
Genre:
ISBN:

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The world economy experienced a sharp spike in food and oil prices during 2007 and 2008. In light of developing Asia's dependence on imported oil and food, we can expect higher global food and oil prices to result in higher domestic consumer prices in the region. However, the actual impact of the global commodity shocks on consumer price inflation in developing Asia depends on a number of other factors, including government policy measures. The objective of this paper is to examine empirically the extent of the pass-through of global food and oil prices to domestic consumer prices in nine countries in the region. The main empirical result is that the magnitude of the pass-through has been limited. Government policy measures, for example, subsidies and price controls, played a role in reducing or delaying the pass-through of oil and food price increases to domestic prices.