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- Title
QUANTIFYING SYSTEMIC AND IDIOSYNCRATIC RISKS IN AGRICULTURE: A STUDY OF KAZAKHSTAN'S GRAIN PRODUCTION VOLATILITY.
- Authors
Kussaiynov, Talgat; Bulasheva, Ainur; Tokenova, Sandugash; Mussina, Gulnara
- Abstract
This article proposes a method for quantifying the impact of idiosyncratic and systemic risks on agricultural production volatility and developing techniques and procedures for calculating the number of losses due to systemic risks. The analysis is based on grain yield and price data adjusted for inflation, trends, and acreage in the northern grain-producing region of Kazakhstan from 2005 to 2017. This study presents a method for determining the proportion of systemic and idiosyncratic risk in variations in agricultural production volume. Using a method based on the beta factor can significantly reduce subjectivism and prevent exploitation when assessing and compensating farmers for damages resulting from adverse natural phenomena. The authors believe this is the first study to examine the impact of systemic and idiosyncratic risks on the volatility of production volumes in the grain industry under specific economic conditions in emerging markets.
- Subjects
KAZAKHSTAN; SYSTEMIC risk (Finance); IDIOSYNCRATIC risk (Securities); FARM risks; GRAIN trade; PRODUCTION quantity; AGRICULTURAL productivity
- Publication
Journal of Eastern European & Central Asian Research, 2023, Vol 10, Issue 7, p1112
- ISSN
2328-8272
- Publication type
Article
- DOI
10.15549/jeecar.v10i7.1417