Information flow in brazilian food market: The influence of the 2008 financial crisis
Autor(a) principal: | |
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Data de Publicação: | 2021 |
Outros Autores: | , , |
Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | Research, Society and Development |
DOI: | 10.33448/rsd-v10i7.15978 |
Texto Completo: | https://rsdjournal.org/index.php/rsd/article/view/15978 |
Resumo: | Brazilian agribusiness is gaining more and more international prominence thanks to the relevant production and export of agricultural commodities, as well as the great potential for development that this economic sector has in the country. The subject has attracted the attention of several researchers because, as the export sector grows, prices of these commodities for domestic consumption tend to rise, affecting the price of other foods. Understanding the dynamics of the price relation between these products is, therefore, of great value in order to avoid that possible financial crises also lead to food crises such as that of 2008. In order to contribute in this sense, the prices behavior of soybean, sugar, coffee and live cattle were analyzed here, as they are agricultural commodities produced on a large scale and traded worldwide. The study was based on the prices registered between 01/1997 and 12/2019, at CEPEA/ESALQ/USP, considering the periods before (07/1997 - 06/2007) and after (07/2007 - 12/2019) the 2008 crisis. The technique of analysis used was the Transfer Entropy - TE, that serves to quantify the flow of information between pairs of time series, as well as to obtain the direction of that flow. The technique was then applied to each pair of time series considering the pre-crisis and post-crisis periods. Results showed that the crisis affected the direction of information transfer between the pairs sugar-cattle, sugar-soybean and cattle-soybean. The time series prices of coffee, in turn, transmitted information to the other commodities in both periods. |
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Research, Society and Development |
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Information flow in brazilian food market: The influence of the 2008 financial crisisFlujo de información en el mercado brasileño de alimentos: La influencia de la crisis financiera de 2008Fluxo de informações no mercado brasileiro de alimentos: A influência da crise financeira de 2008Commodities agrícolasEntropía de TransferenciaCrisis alimentaria.Agricultural commoditiesTransfer entropyFood crisis.Commodities agrícolasEntropia de transferênciaCrise alimentar.Brazilian agribusiness is gaining more and more international prominence thanks to the relevant production and export of agricultural commodities, as well as the great potential for development that this economic sector has in the country. The subject has attracted the attention of several researchers because, as the export sector grows, prices of these commodities for domestic consumption tend to rise, affecting the price of other foods. Understanding the dynamics of the price relation between these products is, therefore, of great value in order to avoid that possible financial crises also lead to food crises such as that of 2008. In order to contribute in this sense, the prices behavior of soybean, sugar, coffee and live cattle were analyzed here, as they are agricultural commodities produced on a large scale and traded worldwide. The study was based on the prices registered between 01/1997 and 12/2019, at CEPEA/ESALQ/USP, considering the periods before (07/1997 - 06/2007) and after (07/2007 - 12/2019) the 2008 crisis. The technique of analysis used was the Transfer Entropy - TE, that serves to quantify the flow of information between pairs of time series, as well as to obtain the direction of that flow. The technique was then applied to each pair of time series considering the pre-crisis and post-crisis periods. Results showed that the crisis affected the direction of information transfer between the pairs sugar-cattle, sugar-soybean and cattle-soybean. The time series prices of coffee, in turn, transmitted information to the other commodities in both periods.La agroindustria brasileña está ganando cada vez más prominencia internacional gracias a la relevante producción y exportación de commodities agrícolas, así como al gran potencial de desarrollo que tiene este sector económico en el país. El tema ha atraído la atención de varios investigadores porque, a medida que crece el sector de exportación, los precios de estos productos básicos para el consumo interno tienden a subir, lo que afecta el precio de otros alimentos. Comprender la dinámica de la relación de precios entre estos productos es, por tanto, de gran valor para evitar que posibles crisis financieras lleven también a crisis alimentarias como la de 2008. Para contribuir en este sentido, fueron analizados aquí el comportamiento de los precios de soja, azúcar, café y buey gordo, que son commodities agrícolas producidas a gran escala y comercializados mundialmente. El estudio se basó en los precios registrados entre 01/1997 y 12/2019, en CEPEA/ESALQ/USP, considerando los períodos antes (07/1997 - 06/2007) y después (07/2007 - 12/2019) de la crisis de 2008. Se utilizó la técnica Transfer Entropy, que sirve para cuantificar el flujo de información entre pares de series temporales e obtener la dirección de ese flujo. La técnica se aplicó a cada par de series considerando los períodos anterior y posterior a la crisis. Resultados mostraron que la crisis afectó la dirección de transferencia de información entre los pares azúcar-buey, azúcar-soja y buey-soja. La serie de precios del café, a su vez, transmitió información a las demás commodities en ambos períodos.O agronegócio brasileiro vem ganhando cada vez mais destaque internacional graças à relevante produção e exportação de commodities agrícolas, bem como ao grande potencial de desenvolvimento que esse setor econômico possui no País. O assunto tem atraído a atenção de diversos pesquisadores porque, à medida que o setor de exportação cresce, tendem a subir os preços dessas commodities para o consumo interno, afetando assim o preço de outros alimentos. Entender a dinâmica da relação de preços entre esses produtos é, portanto, de grande valia para se evitar que possíveis crises financeiras levem também a crises alimentares como a de 2008. Visando contribuir nesse sentido, analisou-se aqui o comportamento dos preços da soja, açúcar, café e boi gordo, por serem commodities agrícolas produzidas em larga escala e comercializadas mundialmente. O estudo teve como base os preços registrados entre 01/1997 e 12/2019, no CEPEA/ESALQ/USP, considerando os períodos anterior (07/1997 - 06/2007) e o posterior (07/2007 - 12/2019) à crise de 2008. A técnica de análise utilizada foi a Entropia de Transferência (Transfer Entropy – TE), que serve para quantificar o fluxo de informação entre pares de séries temporais, bem como para obter a direção desse fluxo. A técnica foi, então, aplicada para cada par de séries de preços considerando os períodos pré-crise e pós-crise. Resultados mostraram que a crise afetou a direção de transferência de informação entre os pares açúcar-boi, açúcar-soja e boi-soja. A série de preços do café, por sua vez, transmitiu informação para as outras commodities em ambos os períodos.Research, Society and Development2021-06-12info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://rsdjournal.org/index.php/rsd/article/view/1597810.33448/rsd-v10i7.15978Research, Society and Development; Vol. 10 No. 7; e2110715978Research, Society and Development; Vol. 10 Núm. 7; e2110715978Research, Society and Development; v. 10 n. 7; e21107159782525-3409reponame:Research, Society and Developmentinstname:Universidade Federal de Itajubá (UNIFEI)instacron:UNIFEIporhttps://rsdjournal.org/index.php/rsd/article/view/15978/14492Copyright (c) 2021 Thiago Matheus Paiva do Passo; Joelma Mayara da Silva; Lidiane da Silva Araújo; Tatijana Stosichttps://creativecommons.org/licenses/by/4.0info:eu-repo/semantics/openAccessPasso, Thiago Matheus Paiva doSilva, Joelma Mayara da Araújo, Lidiane da Silva Stosic, Tatijana 2021-07-18T21:07:03Zoai:ojs.pkp.sfu.ca:article/15978Revistahttps://rsdjournal.org/index.php/rsd/indexPUBhttps://rsdjournal.org/index.php/rsd/oairsd.articles@gmail.com2525-34092525-3409opendoar:2024-01-17T09:36:40.361879Research, Society and Development - Universidade Federal de Itajubá (UNIFEI)false |
dc.title.none.fl_str_mv |
Information flow in brazilian food market: The influence of the 2008 financial crisis Flujo de información en el mercado brasileño de alimentos: La influencia de la crisis financiera de 2008 Fluxo de informações no mercado brasileiro de alimentos: A influência da crise financeira de 2008 |
title |
Information flow in brazilian food market: The influence of the 2008 financial crisis |
spellingShingle |
Information flow in brazilian food market: The influence of the 2008 financial crisis Information flow in brazilian food market: The influence of the 2008 financial crisis Passo, Thiago Matheus Paiva do Commodities agrícolas Entropía de Transferencia Crisis alimentaria. Agricultural commodities Transfer entropy Food crisis. Commodities agrícolas Entropia de transferência Crise alimentar. Passo, Thiago Matheus Paiva do Commodities agrícolas Entropía de Transferencia Crisis alimentaria. Agricultural commodities Transfer entropy Food crisis. Commodities agrícolas Entropia de transferência Crise alimentar. |
title_short |
Information flow in brazilian food market: The influence of the 2008 financial crisis |
title_full |
Information flow in brazilian food market: The influence of the 2008 financial crisis |
title_fullStr |
Information flow in brazilian food market: The influence of the 2008 financial crisis Information flow in brazilian food market: The influence of the 2008 financial crisis |
title_full_unstemmed |
Information flow in brazilian food market: The influence of the 2008 financial crisis Information flow in brazilian food market: The influence of the 2008 financial crisis |
title_sort |
Information flow in brazilian food market: The influence of the 2008 financial crisis |
author |
Passo, Thiago Matheus Paiva do |
author_facet |
Passo, Thiago Matheus Paiva do Passo, Thiago Matheus Paiva do Silva, Joelma Mayara da Araújo, Lidiane da Silva Stosic, Tatijana Silva, Joelma Mayara da Araújo, Lidiane da Silva Stosic, Tatijana |
author_role |
author |
author2 |
Silva, Joelma Mayara da Araújo, Lidiane da Silva Stosic, Tatijana |
author2_role |
author author author |
dc.contributor.author.fl_str_mv |
Passo, Thiago Matheus Paiva do Silva, Joelma Mayara da Araújo, Lidiane da Silva Stosic, Tatijana |
dc.subject.por.fl_str_mv |
Commodities agrícolas Entropía de Transferencia Crisis alimentaria. Agricultural commodities Transfer entropy Food crisis. Commodities agrícolas Entropia de transferência Crise alimentar. |
topic |
Commodities agrícolas Entropía de Transferencia Crisis alimentaria. Agricultural commodities Transfer entropy Food crisis. Commodities agrícolas Entropia de transferência Crise alimentar. |
description |
Brazilian agribusiness is gaining more and more international prominence thanks to the relevant production and export of agricultural commodities, as well as the great potential for development that this economic sector has in the country. The subject has attracted the attention of several researchers because, as the export sector grows, prices of these commodities for domestic consumption tend to rise, affecting the price of other foods. Understanding the dynamics of the price relation between these products is, therefore, of great value in order to avoid that possible financial crises also lead to food crises such as that of 2008. In order to contribute in this sense, the prices behavior of soybean, sugar, coffee and live cattle were analyzed here, as they are agricultural commodities produced on a large scale and traded worldwide. The study was based on the prices registered between 01/1997 and 12/2019, at CEPEA/ESALQ/USP, considering the periods before (07/1997 - 06/2007) and after (07/2007 - 12/2019) the 2008 crisis. The technique of analysis used was the Transfer Entropy - TE, that serves to quantify the flow of information between pairs of time series, as well as to obtain the direction of that flow. The technique was then applied to each pair of time series considering the pre-crisis and post-crisis periods. Results showed that the crisis affected the direction of information transfer between the pairs sugar-cattle, sugar-soybean and cattle-soybean. The time series prices of coffee, in turn, transmitted information to the other commodities in both periods. |
publishDate |
2021 |
dc.date.none.fl_str_mv |
2021-06-12 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://rsdjournal.org/index.php/rsd/article/view/15978 10.33448/rsd-v10i7.15978 |
url |
https://rsdjournal.org/index.php/rsd/article/view/15978 |
identifier_str_mv |
10.33448/rsd-v10i7.15978 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
https://rsdjournal.org/index.php/rsd/article/view/15978/14492 |
dc.rights.driver.fl_str_mv |
https://creativecommons.org/licenses/by/4.0 info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
https://creativecommons.org/licenses/by/4.0 |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Research, Society and Development |
publisher.none.fl_str_mv |
Research, Society and Development |
dc.source.none.fl_str_mv |
Research, Society and Development; Vol. 10 No. 7; e2110715978 Research, Society and Development; Vol. 10 Núm. 7; e2110715978 Research, Society and Development; v. 10 n. 7; e2110715978 2525-3409 reponame:Research, Society and Development instname:Universidade Federal de Itajubá (UNIFEI) instacron:UNIFEI |
instname_str |
Universidade Federal de Itajubá (UNIFEI) |
instacron_str |
UNIFEI |
institution |
UNIFEI |
reponame_str |
Research, Society and Development |
collection |
Research, Society and Development |
repository.name.fl_str_mv |
Research, Society and Development - Universidade Federal de Itajubá (UNIFEI) |
repository.mail.fl_str_mv |
rsd.articles@gmail.com |
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1822178499760226304 |
dc.identifier.doi.none.fl_str_mv |
10.33448/rsd-v10i7.15978 |