Empirical Economics

, Volume 56, Issue 1, pp 173–202 | Cite as

Effects of the agricultural commodity and the food price volatility on economic integration: an empirical assessment

  • Giray GozgorEmail author


This paper empirically examines the effects of the global agricultural commodity price volatility and the food price volatility on the level of economic integration over the period 1970–2012. The benchmark regressions are based on the data from 133 countries. The results indicate that the level of economic integration is negatively related to both the agricultural commodity price volatility and the food price volatility. In addition to this, the negative impacts of the agricultural commodity price volatility and the food price volatility on the level of economic integration are statistically significant in the middle- and the high-income countries. These findings remain robust when it considers different estimation techniques and different measures of price volatility, and deals with extreme cases.


Economic integration Protectionism Volatility Agricultural commodity markets Panel data estimation 

JEL Classification

F14 Q17 C33 



This research was funded by the Scientific and Technological Research Council of Turkey (TÜBİTAK), the Grant of the 2219 Program. The views and opinions expressed herein are those of the author and do not necessarily reflect the views of the Scientific and Technological Research Council of Turkey. This paper was written while the author was a Visiting Researcher at the University of California Irvine, Department of Economics. The author would like to acknowledge insightful comments and suggestions of Priya Ranjan and Marc F. Bellemare. The author would also like to thank the anonymous reviewers and the editors for their very detailed and constructive comments. Of course, the author is solely responsible for remaining errors.

Supplementary material

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Supplementary material 1 (pdf 82 KB)


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Copyright information

© Springer-Verlag GmbH Germany, part of Springer Nature 2017

Authors and Affiliations

  1. 1.Istanbul Medeniyet UniversityIstanbulTurkey

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