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Are We Moving Towards Functioning Agricultural Markets and Trade Relations?
Author(s) -
Brosig Stephan,
Glauben Thomas,
Levkovych Inna,
Prehn Sören,
Teuber Ramona
Publication year - 2016
Publication title -
journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.157
H-Index - 61
eISSN - 1477-9552
pISSN - 0021-857X
DOI - 10.1111/1477-9552.12183
Subject(s) - emerging markets , commodity , food security , agriculture , international market , economics , relevance (law) , feature (linguistics) , international economics , international trade , business , market economy , macroeconomics , political science , ecology , linguistics , philosophy , biology , law
We introduce a special feature on the functioning of international agricultural markets. This feature is motivated by the increased interest in the functioning of commodity markets raised by unprecedented price turbulences since 2008, major structural changes through changed roles of emerging economies and related concerns regarding food security. We argue that the delineation of non‐functioning markets from markets that adequately adjusted to adverse framework conditions lacks theoretical foundation. We discuss the relevance of some results on institutions for agricultural markets in emerging and transition countries. A synthesis of the articles included in the special feature is provided by highlighting the selection of topics that span a topical range covering price formation on world and domestic markets, market power and trade policy modelling.