1Bauman Moscow State Technical University, Moscow, Russia
2Russian State University of Tourism and Service, Cherkizovo, Moscow Region, Russia
3Nizhny Novgorod State Technical University Named After R.E. Alekseeva, Nizhny Novgorod, Russia
4State University of Management, Moscow, Russia
5Moscow Polytechnic University, Moscow, Russia
6All-Russian Institute of Agrarian Problems and Informatics named after A.A. Nikonov – Branch of the Federal Research Center of Agrarian Economy and Social Development of Rural Areas -All-Russian Research Institute of Agricultural Economics Under Ministry of Science and Higher Education of Russian Federation, Moscow, Russia
7Emperor Alexander I St. Petersburg State Transport University, St. Petersburg, Russia
*Corresponding author's email: evg.e.krasnovskiy@gmail.com
Online published on 3 February, 2023.
The purpose of the article was to empirically assess the impact of the volatility of world price indices for agricultural raw materials on economic processes in industrialized countries (the United States of America and the countries of the European Union). The results indicated a favourable dependence of the trend of American GDP on the increase in world raw materials prices. A similar result was obtained for industrial production indicators in both countries under investigation. During the assessment of agricultural raw materials on the world commodity market, it was revealed that the prices for sugar and rice were the most volatile. However, it should be noted that the volatility of world wheat prices recently increased.
Agricultural raw materials, EU, Price index, Volatility, World market prices
