Research Article

Can Global Economic Policy Uncertainty Drive the Interdependence of Agricultural Commodity Prices? Evidence from Partial Wavelet Coherence Analysis

Table 1

Correlation matrix of EPU and selected agricultural commodities.

EPUMaizeOatsRiceSoya beanWheat

EPU1.0000
Maize0.00891.0000
Oats−0.00050.49651.0000
Rice−0.00860.10770.10981.0000
Soya beans−0.07550.65550.36850.04461.0000
Wheat−0.00760.55880.3572-0.06630.49311.0000

, , and represent 10%, 5%, and 1% significance levels, respectively.