ABSTRACT This paper emphasises the impact of the ongoing liberalisation of agricultural policies and trade in agricultural commodities on spatial price transmission in agricultural markets. Based on a literature review covering a broad range of topics, the article derives four main conclusions. First, more market-oriented agricultural policies and trade liberalization improve horizontal price transmission in global agricultural markets. Second, in the integrated agricultural markets, some regions tend to lead the price discovery process, which is determined mainly by their role in international trade. Third, with the growing integration of agricultural markets, the significance of local factors such as seasonality is diminishing. Fourth, as markets become more integrated, spontaneous public interventions aimed at the stabilisation of domestic prices are less effective. These findings may help market participants at all stages of the food supply chain to better understand how policy deregulation and trade liberalisation affect price setting in agricultural markets and, consequently, enable them to adjust to these changes more effectively. Furthermore, the paper provides policy implications, as it distinguishes the institutional factors determining the degree of price transmission in agricultural markets and emphasises the decreasing effectiveness of domestic agricultural and trade policies as globalisation in agricultural markets continues.

中文翻译：

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（解除）管制的农产品市场中的价格传导

摘要 本文强调了农业政策和农产品贸易的持续自由化对农产品市场空间价格传递的影响。基于涵盖广泛主题的文献综述，本文得出四个主要结论。首先，更多以市场为导向的农业政策和贸易自由化改善了全球农产品市场的横向价格传导。其次，在农产品综合市场中，一些地区往往主导价格发现过程，这主要取决于它们在国际贸易中的作用。第三，随着农产品市场一体化程度的提高，季节性等地方因素的重要性正在减弱。第四，随着市场变得更加一体化，旨在稳定国内价格的自发性公共干预效果较差。这些发现可能有助于食品供应链各个阶段的市场参与者更好地了解政策放松管制和贸易自由化如何影响农产品市场的价格设定，从而使他们能够更有效地适应这些变化。此外，本文提供了政策含义，因为它区分了决定农产品市场价格传导程度的制度因素，并强调随着农产品市场全球化的继续，国内农业和贸易政策的有效性正在下降。这些发现可能有助于食品供应链各个阶段的市场参与者更好地了解政策放松管制和贸易自由化如何影响农产品市场的价格设定，从而使他们能够更有效地适应这些变化。此外，本文提供了政策含义，因为它区分了决定农产品市场价格传导程度的制度因素，并强调随着农产品市场全球化的继续，国内农业和贸易政策的有效性正在下降。这些发现可能有助于食品供应链各个阶段的市场参与者更好地了解政策放松管制和贸易自由化如何影响农产品市场的价格设定，从而使他们能够更有效地适应这些变化。此外，本文提供了政策含义，因为它区分了决定农产品市场价格传导程度的制度因素，并强调随着农产品市场全球化的继续，国内农业和贸易政策的有效性正在下降。