The Effects of exchange rates, oil prices, global risk perceptions and global warming on food prices

Dağdelen, Derya
This thesis examines the relationship between food prices, oil prices, carbon emission prices, exchange rates and global risk perception. To obtain the effects of these variables on the food prices, Toda and Yamamoto procedure is employed for 5-day week daily time series covering the period February 27, 2008 and March 21, 2011. The empirical results indicate that only volatility index Granger causes food prices. Furthermore, according to results of generalized impulse response plots food prices respond to all variables in the short run.


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Oil price changes have varying impacts on the financial indicators of global markets and economies. This study aims to explore the dependence structure between crude oil prices and stock market indices, as well as the exchange rates in a number of economies categorized with respect to their status as developing/emerging markets, and oil importer/exporter countries. Dependence structures in this study are evaluated in considerable depth using copula models. The broad time period covered allows the investigat...
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Oil prices have far reaching effects on the economy and financial markets since oil market is one of the most important markets in the world due to its crucial role of oil within economic activity. Although most of the economies are expected to be affected by the changes of oil prices, the magnitude of the effects may change from country to country. Oil-export/import dependent countries are expected to be more open to impacts arousing from changes in oil prices. Turkey, as a heavily oil importing country, i...
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Güneyligil, Ümmügülsüm; Akbostancı Özkazanç, Elif; Department of Economics (2013)
This study analyzes the effect of oil imports by OECD regions on crude oil price by using Kaufmann’s price rule as a benchmark. Using the autoregressive distributed lag (ARDL) cointegration approach; it is found that there is cointegration between crude oil prices, days of forward consumption of OECD crude oil stocks, OPEC quota, OPEC cheat and key variables imported crude oil by OECD. However, ARDL based error correction models (ECM) indicate that regional factors are not a significant determinant of crude...
Citation Formats
D. Dağdelen, “The Effects of exchange rates, oil prices, global risk perceptions and global warming on food prices,” M.B.A. - Master of Business Administration, Middle East Technical University, 2012.