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<article article-type="research-article" dtd-version="1.3" xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xml:lang="ru"><front><journal-meta><journal-id journal-id-type="publisher-id">finance</journal-id><journal-title-group><journal-title xml:lang="ru">Финансы: теория и практика/Finance: Theory and Practice</journal-title><trans-title-group xml:lang="en"><trans-title>Finance: Theory and Practice</trans-title></trans-title-group></journal-title-group><issn pub-type="ppub">2587-5671</issn><issn pub-type="epub">2587-7089</issn><publisher><publisher-name>Financial University under The Government of Russian Federation</publisher-name></publisher></journal-meta><article-meta><article-id pub-id-type="doi">10.26794/2587-5671-2023-27-4-66-79</article-id><article-id custom-type="elpub" pub-id-type="custom">finance-2301</article-id><article-categories><subj-group subj-group-type="heading"><subject>Research Article</subject></subj-group><subj-group subj-group-type="section-heading" xml:lang="ru"><subject>ЦЕНООБРАЗОВАНИЕ</subject></subj-group><subj-group subj-group-type="section-heading" xml:lang="en"><subject>PRICING</subject></subj-group></article-categories><title-group><article-title>Пороговая коинтеграция и ценовая трансмиссия на сырьевых рынках Индии</article-title><trans-title-group xml:lang="en"><trans-title>Threshold Cointegration and Price Transmission in Commodity Marketsof India</trans-title></trans-title-group></title-group><contrib-group><contrib contrib-type="author" corresp="yes"><contrib-id contrib-id-type="orcid">https://orcid.org/0000-0002-6070-1373</contrib-id><name-alternatives><name name-style="eastern" xml:lang="ru"><surname>Мишра</surname><given-names>А.</given-names></name><name name-style="western" xml:lang="en"><surname>Mishra</surname><given-names>A.</given-names></name></name-alternatives><bio xml:lang="ru"><p>Арунендра Мишра — научный сотрудник, департамент пищевой промышленности и предпринимательства</p><p>Сонипат (Дели NCR)</p></bio><bio xml:lang="en"><p>Arunendra Mishra — Research Scholar, Department of Food Business Management and Entrepreneurship</p><p>Sonipat (Delhi NCR)</p></bio><email xlink:type="simple">arunendra.niftem@gmail.com</email><xref ref-type="aff" rid="aff-1"/></contrib><contrib contrib-type="author" corresp="yes"><contrib-id contrib-id-type="orcid">https://orcid.org/0000-0001-5299-7701</contrib-id><name-alternatives><name name-style="eastern" xml:lang="ru"><surname>Кумар</surname><given-names>П. Р.</given-names></name><name name-style="western" xml:lang="en"><surname>Kumar</surname><given-names>P. R.</given-names></name></name-alternatives><bio xml:lang="ru"><p>Прасантх Р. Кумар — PhD в области стратегических финансов, доцент, департамент пищевой промышленности и предпринимательства</p><p>Сонипат (Дели NCR)</p></bio><bio xml:lang="en"><p>Prasanth R. Kumar — PhD in Strategic Finance, Assist. Prof., Department of Food Business Management and Entrepreneurship</p><p>Sonipat (DelhiNCR)</p></bio><email xlink:type="simple">prasanth@niftem.ac.in</email><xref ref-type="aff" rid="aff-1"/></contrib></contrib-group><aff-alternatives id="aff-1"><aff xml:lang="ru"><institution>Национальный институт предпринимательства и управления пищевыми технологиями</institution><country>Индия</country></aff><aff xml:lang="en"><institution>National Institute of Food Technology Entrepreneurship and Management</institution><country>India</country></aff></aff-alternatives><pub-date pub-type="collection"><year>2023</year></pub-date><pub-date pub-type="epub"><day>28</day><month>08</month><year>2023</year></pub-date><volume>27</volume><issue>4</issue><fpage>66</fpage><lpage>79</lpage><permissions><copyright-statement>Copyright &amp;#x00A9; Мишра А., Кумар П.R., 2023</copyright-statement><copyright-year>2023</copyright-year><copyright-holder xml:lang="ru">Мишра А., Кумар П.</copyright-holder><copyright-holder xml:lang="en">Mishra A., Kumar P.R.</copyright-holder><license xml:lang="ru" license-type="creative-commons-attribution" xlink:href="https://creativecommons.org/licenses/by/4.0/" xlink:type="simple"><license-p>Данная работа распространяется под лицензией Creative Commons Attribution 4.0.</license-p></license><license xml:lang="en" license-type="creative-commons-attribution" xlink:href="https://creativecommons.org/licenses/by/4.0/" xlink:type="simple"><license-p>This work is licensed under a Creative Commons Attribution 4.0 License.</license-p></license></permissions><self-uri xlink:href="https://financetp.fa.ru/jour/article/view/2301">https://financetp.fa.ru/jour/article/view/2301</self-uri><abstract><p>Целью данной исследовательской работы является определение взаимосвязей и  динамики цен между сельскохозяйственными товарами в Индии: кукурузой, пшеницей, ячменем и соей. Наш подход заключается в изучении долгосрочных отношений с помощью метода моделирования ценовой трансмиссии как для линейных и пороговых моделей авторегрессии (AR), так и для векторных моделей коррекции ошибок (VEC). Результаты показали, что все ценовые ряды являются интегрироваными, а пороговые модели коррекции ошибок доказывают, что они движутся к восстановлению долгосрочной взаимосвязи, в то же время цены на сырьевые акции реагируют немного быстрее, чем рыночные цены в краткосрочной перспективе. Выводы из данного исследования показывают, что понимание потока ценовой трансмиссии и его влияние на ценообразование может помочь в разработке наилучших торговых стратегий. Кроме того, происходит регулирование последствий государственной политики при активном участии фермеров в товарообороте на национальном уровне.</p></abstract><trans-abstract xml:lang="en"><p>The purpose of this research work is to examine the relationships and price dynamics between agricultural commodities in India, i.e.maize, wheat, barley and soybean. Our approach is to study the long-term relationship using the method of modelling the price transmission for both linear and threshold autoregressive (AR) models and vector error correction (VEC) models. Results revealed that all the price series are well integrated, and threshold error correction models prove that all price series move to restore the long-run relationship, whereas commodity stock prices respond slightly faster than market prices in the short-run. Conclusions from this study show that understanding the price transmission flow and its impact on pricing might help in making better trading strategies. It also regulates the public policy implications of the active participation of farmers in national-level commodity exchanges.</p></trans-abstract><kwd-group xml:lang="ru"><kwd>ценовая трансмиссия</kwd><kwd>рыночная интеграция</kwd><kwd>пороговая коинтеграция</kwd><kwd>ценообразование</kwd></kwd-group><kwd-group xml:lang="en"><kwd>price transmission</kwd><kwd>market integration</kwd><kwd>threshold cointegration</kwd><kwd>pricing</kwd></kwd-group></article-meta></front><back><ref-list><title>References</title><ref id="cit1"><label>1</label><citation-alternatives><mixed-citation xml:lang="ru">Bonato M. Realized correlations, betas and volatility spillover in the agricultural commodity market: What has changed? Journal of International Financial Markets, Institutions and Money. 2019;62:184–202. DOI: 10.1016/j.intfin.2019.07.005</mixed-citation><mixed-citation xml:lang="en">Bonato M. 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