Effect of Economic Policy Uncertainty and Crude Oil on Food Prices in India: Evidence from Symmetric and Asymmetric Investigation
Price: ₹ 500
Author: Amritkant Mishra
Author Address: Assistant Professor, Department of Economics, Birla School of Social Sciences and Humanities, Birla Global University, Bhubaneswar-751 029 (Odisha)
Keywords: Crude oil, economic policy uncertainty, food inflation, NARDL.
JEL Codes: ]E31, Q11, Q12, Q18.
Abstract
This
pragmatic investigation examined the impact of policy uncertainty and crude oil
prices on food inflation in India. The findings revealed that there was a
long-run relationship between food inflation, economic policy uncertainty, and
crude oil prices. On the other hand, the relevant results showed that, in the
long run, the crude oil price significantly influenced the current food price
in India. At the same time, economic policy uncertainty not affect food prices
in India. Furthermore, did unrestricted NARDL demonstrated no long-run or
short-run asymmetric effect of economic policy uncertainty and crude oil costs
on food prices in India. The examination supported the notion of the cobweb
model from the Indian perspective. In terms of policy implications, research results
emphasize the need for crude oil price management to control food inflation in
India.
Description
Indian Journal of Economics and Development
Volume 18 No. 3, 2022, 673-680
DOI: https://doi.org/10.35716/IJED/22022
NAAS Score: 5.15 (2022)
Indexed in Clarivate Analytics (ESCI) of WoS
Indexed in Scopus (SJR: 0.18)
UGC Approved (UGC-Care List Group II)