Table 1 A Summary of Empirical Literature
Authors | Year | Country | Method | Results |
|---|---|---|---|---|
Arezki & Bruckner | 2011 | 120 Countries | Panel Data | There is a positive relationship between food prices and political instability |
Ott | 2012 | The US | VAR | There is a positive relationship between fertilizer prices and global food prices |
Baffes & Dennis | 2013 | Thailand | OLS | Interest rates are important for food prices |
Kornher & Kalkuhl | 2013 | 53 Developing Countries | GMM | There is a significant relationship between FX rates and food prices |
Khatun et al | 2016 | Bangladesh | VECM | There is a positive relationship between FX rates and food prices |
Pal & Mitra | 2019 | The US | DCC | Energy (crude oil) prices drive agricultural goods |
Taghizadeh-Hesary et al | 2019 | Eight Asian Countries | Panel VAR | Energy (oil) prices have a significant effect on food prices |
Xiao et al | 2019 | China | TVP-VAR | Economic policy uncertainty affects grain futures prices |
Ertuğrul | 2021 | Turkey | DCC | There is a dynamic correlation between oil price and food prices |
Ertuğrul & Seven | 2021 | Turkey | DCC-GARCH | FX rates significantly affect the growing gap between Turkish and international food prices, while oil prices reduce this gap |
Letta et al | 2021 | India | Regression | Weather (drought) conditions increase agricultural prices by affecting production |
Li & Li | 2021 | China | TVP-SV-VAR | Uncertainty results in a rise in food prices by reducing total imports and raising trade costs |
Verbicki | 2021 | EU | Panel Data | FX rates do not affect food prices |
Wen et al | 2021 | China | NARDL | Negative economic policy uncertainty shocks have a greater impact on food prices than positive shocks. Oil price shocks have an increasing effect on food prices |