Domestic Rice Price co-movement with International Rice Markets during Abnormal Shocks: Evidence from Five Asian Countries

Details

Supervisors

Vannoorenberghe, Gonzague ; Suverato, Davide

Faculty

Faculté des sciences économiques, sociales, politiques et de communication

Degree label

Master [120] en sciences économiques, orientation générale, à finalité approfondie

Abstract

enThis thesis examines how domestic rice prices in five Asian countries co-moved with international rice prices during abnormal rice-market shocks, with particular attention to the 2007–2008 rice crisis. Using monthly price data for Thailand, India, Cambodia, the Philippines, and Bangladesh, the analysis decomposes domesticinternational price co-movement into international, regional, and national residual components. The results reveal substantial cross-country heterogeneity. Thailand’s domestic rice prices closely co-move with the international benchmark, whereas India appears largely insulated from international price movements. The Philippines, Bangladesh, and Cambodia display intermediate or mixed patterns. These patterns are consistent with differences in trade exposure, public intervention, and domestic market conditions across countries. Rather than providing causal estimates of price transmission, the thesis offers a descriptive account of how domestic rice prices moved with international prices during abnormal shocks.