THE EFFECTS OF OIL PRICES AND CLIMATE POLICY UNCERTAINTY ON THE GRAIN PRICE DYNAMICS

İsmail Şencan

Makale detayları

THE EFFECTS OF OIL PRICES AND CLIMATE POLICY UNCERTAINTY ON THE GRAIN PRICE DYNAMICS

Yazarlar:

İsmail Şencan

Yayıncı:

Bayburt University

Ana Başlıklar:

Uluslararası Finans

Dergi:

İşletme Ekonomi ve Yönetim Araştırmaları Dergisi Vol.8 Issue 2, pp.72-82

Belge Tipi:

Makale

Yayın Tarihi:

7/2025

Belge Dili:

Türkçe

Document ID (Org No.):

2001354317

pISSN:

2618-6195

Anahtar kelimeler:

Özet:

 The effects of fluctuations in the global economy on agricultural commodity markets, particularly the repercussions of increasing global economic uncertainties on energy prices in recent years, and the food security concerns triggered by global climate change-related political uncertainties, are increasingly gaining importance in investment strategies. Within this scope, the effects of changes in oil prices and climate policy uncertainty on the price dynamics of staple agricultural commodities wheat, corn, rice, and oats have been empirically investigated. For this purpose, FMOLS, CCR, and DOLS models, which offer unbiased and efficient estimates, have been applied. The empirical findings obtained from the study have revealed that changes in oil prices and climate policy uncertainty are statistically significant on the prices of the examined wheat, corn, rice, and oats, exhibiting different effects on a commodity basis. These results offer noteworthy implications for policymakers and market participants in developing future strategies. Furthermore, a comprehensive understanding of the price movements of these staple grain products, which are of critical importance for global food security, holds great significance for the development of sustainable agricultural policies and the effective management of market-based risks.

 The effects of fluctuations in the global economy on agricultural commodity markets, particularly the repercussions of increasing global economic uncertainties on energy prices in recent years, and the food security concerns triggered by global climate change-related political uncertainties, are increasingly gaining importance in investment strategies. Within this scope, the effects of changes in oil prices and climate policy uncertainty on the price dynamics of staple agricultural commodities wheat, corn, rice, and oats have been empirically investigated. For this purpose, FMOLS, CCR, and DOLS models, which offer unbiased and efficient estimates, have been applied. The empirical findings obtained from the study have revealed that changes in oil prices and climate policy uncertainty are statistically significant on the prices of the examined wheat, corn, rice, and oats, exhibiting different effects on a commodity basis. These results offer noteworthy implications for policymakers and market participants in developing future strategies. Furthermore, a comprehensive understanding of the price movements of these staple grain products, which are of critical importance for global food security, holds great significance for the development of sustainable agricultural policies and the effective management of market-based risks.

 The effects of fluctuations in the global economy on agricultural commodity markets, particularly the repercussions of increasing global economic uncertainties on energy prices in recent years, and the food security concerns triggered by global climate change-related political uncertainties, are increasingly gaining importance in investment strategies. Within this scope, the effects of changes in oil prices and climate policy uncertainty on the price dynamics of staple agricultural commodities wheat, corn, rice, and oats have been empirically investigated. For this purpose, FMOLS, CCR, and DOLS models, which offer unbiased and efficient estimates, have been applied. The empirical findings obtained from the study have revealed that changes in oil prices and climate policy uncertainty are statistically significant on the prices of the examined wheat, corn, rice, and oats, exhibiting different effects on a commodity basis. These results offer noteworthy implications for policymakers and market participants in developing future strategies. Furthermore, a comprehensive understanding of the price movements of these staple grain products, which are of critical importance for global food security, holds great significance for the development of sustainable agricultural policies and the effective management of market-based risks.

 Küresel ekonomideki dalgalanmaların tarımsal emtia piyasaları üzerindeki etkileri, özellikle son yıllarda artan küresel ekonomik belirsizliklerin enerji fiyatlarına yansımaları ve küresel iklim değişikliğine bağlı politik belirsizliklerin tetiklediği gıda güvenliği endişeleri, yatırım stratejileri üzerinde giderek daha fazla önem kazanmaktadır. Bu kapsamda, petrol fiyatlarındaki ve iklim politikası belirsizliğindeki değişimlerin temel tarımsal emtiaların buğday, mısır, pirinç ve yulaf fiyat dinamikleri üzerindeki etkileri ampirik olarak araştırılmıştır. Bu amaçla, sapmasız ve etkin tahminler sunan FMOLS, CCR ve DOLS modelleri uygulanmıştır. Çalışmadan elde edilen ampirik bulgular, petrol fiyatlarındaki ve iklim politikası belirsizliğindeki değişimlerin incelenen buğday, mısır, pirinç ve yulaf fiyatları üzerinde istatistiksel olarak anlamlı olduğunu ve emtia bazında farklı etkiler gösterdiğini ortaya koymuştur. Bu sonuçlar, politika yapıcılar ve piyasa katılımcıları için geleceğe yönelik stratejiler geliştirmede kayda değer çıkarımlar sunmaktadır. Ayrıca, küresel gıda güvenliği açısından kritik öneme sahip olan bu temel tahıl ürünlerindeki fiyat hareketlerinin kapsamlı bir şekilde anlaşılması, sürdürülebilir tarım politikalarının geliştirilmesi ve piyasa kaynaklı risklerin etkin bir şekilde yönetilmesi açısından büyük bir önem taşımaktadır.

Makale detayları

THE EFFECTS OF OIL PRICES AND CLIMATE POLICY UNCERTAINTY ON THE GRAIN PRICE DYNAMICS

Yazarlar:

İsmail Şencan

Yayıncı:

Bayburt University

Ana Başlıklar:

Uluslararası Finans

Dergi:

İşletme Ekonomi ve Yönetim Araştırmaları Dergisi Vol.8 Issue 2, pp.72-82

Belge Tipi:

Makale

Yayın Tarihi:

7/2025

Belge Dili:

Türkçe

Document ID (Org No.):

2001354317

pISSN:

2618-6195

Grain Market

Global Brent Crude Oil Price

Climate Policy Uncertainty IndexTahıl Piyasası

Küresel Brent Ham Petrol Fiyatı

İklim Politikası Belirsizlik Endeksi

Sayı

Makale detayları

THE EFFECTS OF OIL PRICES AND CLIMATE POLICY UNCERTAINTY ON THE GRAIN PRICE DYNAMICS

Yazarlar: İsmail Şencan

Yayıncı: Bayburt University

Ana Başlıklar: Uluslararası Finans

Dergi: İşletme Ekonomi ve Yönetim Araştırmaları Dergisi Vol.8 Issue 2, pp.72-82

Belge Tipi: Makale

Yayın Tarihi: 7/2025

Belge Dili: Türkçe

Document ID (Org No.): 2001354317

pISSN: 2618-6195

Grain Market

Global Brent Crude Oil Price

Climate Policy Uncertainty IndexTahıl Piyasası

Küresel Brent Ham Petrol Fiyatı

İklim Politikası Belirsizlik Endeksi

Sayı

Yazarlar:

İsmail Şencan

Yayıncı:

Bayburt University

Ana Başlıklar:

Uluslararası Finans

Dergi:

İşletme Ekonomi ve Yönetim Araştırmaları Dergisi Vol.8 Issue 2, pp.72-82

Belge Tipi:

Makale

Yayın Tarihi:

7/2025

Belge Dili:

Türkçe

Document ID (Org No.):

2001354317

pISSN:

2618-6195