Template-Type: ReDIF-Article 1.0 Author-Name: Zuzana LAJDOVÁ Author-Workplace-Name: Faculty of Economics and Management, Department of Economics, Slovak University of Agriculture in Nitra, Slovakia Author-Name: Peter BIELIK Author-Workplace-Name: Faculty of Economics and Management, Department of Economics, Slovak University of Agriculture in Nitra, Slovakia Title: The evidence of asymmetric price adjustments Abstract: The paper provides insights into the price transmission of dairy sector in Slovakia and examined the nature of price adjustments and market efficiency along the vertical chain. The results were based on monthly prices covering the time period 2004-2012. The farm gate prices of raw cow milk Q class and I. class were distinguished and the comparison was made also between the prices of semi-fat milk and durable semi-fat milk. The methodological approach called the Vector Error Correction model (VECM) was applied in the paper due to the fact that the Johansen co-integration test revealed that the time series were co-integrated, meaning that the long run relationship existed between them. The obtained results were in line with the recent empirical findings that have shown that the market power on the demand side, the imperfect market structure existence and also the fact that milk is a highly perishable commodity might be the explanations for the revealed asymmetric price adjustments. Keywords: asymmetry, co-integration, milk, price transmission, VECM Journal: Agricultural Economics Pages: 105-115 Volume: 61 Issue: 3 Year: 2015 DOI: 10.17221/220/2014-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/220/2014-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-201503-0001.txt Handle: RePEc:caa:jnlage:v:61:y:2015:i:3:id:220-2014-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: LU Yung-Hsiang Author-Workplace-Name: National Chiayi University, Chiayi, Taiwan Author-Name: Ku-Hsieh CHEN Author-Workplace-Name: Fo Guang University, Yilan, Taiwan Author-Name: WU Chun-Cheng Author-Workplace-Name: National Chiayi University, Chiayi, Taiwan Title: Cross-country analysis of efficiency and productivity in the biotech industry: an application of the generalized metafrontier Malmquist productivity index Abstract: The paper provides insights into the price transmission of dairy sector in Slovakia and examined the nature of price adjustments and market efficiency along the vertical chain. The results were based on monthly prices covering the time period 2004-2012. The farm gate prices of raw cow milk Q class and I. class were distinguished and the comparison was made also between the prices of semi-fat milk and durable semi-fat milk. The methodological approach called the Vector Error Correction model (VECM) was applied in the paper due to the fact that the Johansen co-integration test revealed that the time series were co-integrated, meaning that the long run relationship existed between them. The obtained results were in line with the recent empirical findings that have shown that the market power on the demand side, the imperfect market structure existence and also the fact that milk is a highly perishable commodity might be the explanations for the revealed asymmetric price adjustments. Keywords: asymmetry, co-integration, milk, price transmission, VECM Journal: Agricultural Economics Pages: 116-134 Volume: 61 Issue: 3 Year: 2015 DOI: 10.17221/75/2014-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/75/2014-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-201503-0002.txt Handle: RePEc:caa:jnlage:v:61:y:2015:i:3:id:75-2014-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: Vladimír JENÍČEK Author-Workplace-Name: Faculty of International Relation, University of Economics, Prague, Czech Republic Author-Name: Šárka GRÓFOVÁ Author-Workplace-Name: Faculty of International Relation, University of Economics, Prague, Czech Republic Title: The least developed countries - the case of the Congo D.R. Abstract: The article is focused on food problem in the least developed countries, on the chosen areas where the overall situation is the most problematic. It deals with the Democratic Republic of the Congo, belonging to the low income food deficit countries with one of the world's lowest rates of the gross domestic product per capita. The paper defines the food security situation in a global connection, representing a wide complex of economic, social, demographic, technologic and political aspects of production, distribution, shift and consumption of foodstuffs. Despite some progresses in the political situation, the effects of the economic crisis and the widespread food insecurity are expected to persist. Te humanitarian assistance is now needed to support the needs of the most vulnerable. In the longer term, the countries have the significant goal of consolidating peace and security and strengthening the overall governance, while at the same time reconstructing and rehabilitating their economy. Keywords: agriculture, conflict, economic growth, food security, poverty Journal: Agricultural Economics Pages: 135-148 Volume: 61 Issue: 3 Year: 2015 DOI: 10.17221/49/2014-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/49/2014-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-201503-0003.txt Handle: RePEc:caa:jnlage:v:61:y:2015:i:3:id:49-2014-AGRICECON