Abstract: Although the Vietnamese catfish farming has grown
at very high rates in recent years, the industry has also faced many
problems affecting its sustainability. This paper studies the
perceptions of catfish farmers regarding risk and risk management
strategies in their production activities. Specifically, the study aims
to measure the consequences, likelihoods, and levels of risks as well
as the efficacy of risk management in Vietnamese catfish farming.
Data for the study were collected through a sample of 261 catfish
farmers in the Mekong Delta, Vietnam using a questionnaire survey
in 2008. Results show that, in general, price and production risks
were perceived as the most important risks. Farm management and
technical measures were perceived more effective than other kinds of
risk management strategies in risk reduction. Although price risks
were rated as important risks, price risk management strategies were
not perceived as important measures for risk mitigation. The results
of the study are discussed to provide implications for various
industry stakeholders, including policy makers, processors, advisors,
and developers of new risk management strategies.
Abstract: This paper aims to present the main instruments used
in the economic literature for measuring the price risk, pointing out
on the advantages brought by the conditional variance in this respect.
The theoretical approach will be exemplified by elaborating an
EGARCH model for the price returns of wheat, both on Romanian
and on international market. To our knowledge, no previous
empirical research, either on price risk measurement for the
Romanian markets or studies that use the ARIMA-EGARCH
methodology, have been conducted. After estimating the
corresponding models, the paper will compare the estimated
conditional variance on the two markets.