QUANTIFYING SYSTEMIC AND IDIOSYNCRATIC RISKS IN AGRICULTURE: A STUDY OF KAZAKHSTANS GRAIN PRODUCTION VOLATILITY
Kussaiynov T. Bulasheva A. Tokenova S. Mussina G.
December 2023Institute of Eastern Europe and Central Asia
Journal of Eastern European and Central Asian Research
2023#10Issue 71112 - 1120 pp.
This article proposes a method for quantifying the impact of idiosyncratic and systemic risks on agricultural production volatility and developing techniques and procedures for calculating the number of losses due to systemic risks. The analysis is based on grain yield and price data adjusted for inflation, trends, and acreage in the northern grain-producing region of Kazakhstan from 2005 to 2017. This study presents a method for determining the proportion of systemic and idiosyncratic risk in variations in agricultural production volume. Using a method based on the beta factor can significantly reduce subjectivism and prevent exploitation when assessing and compensating farmers for damages resulting from adverse natural phenomena. The authors believe this is the first study to examine the impact of systemic and idiosyncratic risks on the volatility of production volumes in the grain industry under specific economic conditions in emerging markets.
agriculture , economic loss , grain production , idiosyncratic risk , systemic risk
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Saken Seifullin Kazakh Agricultural Research University, Astana, Kazakhstan
University of Reading, Reading, United Kingdom
Saken Seifullin Kazakh Agricultural Research University
University of Reading
10 лет помогаем публиковать статьи Международный издатель
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