Trade barrier volatility and agricultural price stabilization
Author | : Kym Anderson |
Publisher | : |
Total Pages | : 37 |
Release | : 2010 |
Genre | : |
ISBN | : |
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Author | : Kym Anderson |
Publisher | : |
Total Pages | : 37 |
Release | : 2010 |
Genre | : |
ISBN | : |
Author | : Kym Anderson |
Publisher | : |
Total Pages | : 37 |
Release | : 2017 |
Genre | : |
ISBN | : |
National barriers to trade are often varied to insulate domestic markets from international price variability, especially following a sudden spike. This paper explores the extent of that behavior by governments in the case of agricultural products, particularly food staples whose prices have spiked three times over the past four decades. It does so using new annual estimates since 1955 of agricultural price distortions in 75 countries, updated to 2008. Responses by food importers to upward price spikes are shown to be as substantial as those by food exporters, thereby weakening the domestic price-stabilizing effect of intervention by exporters. They also add to the transfer of welfare to food-surplus from food-deficit countries -- the opposite of what is usually thought of when considering inter-sector trade retaliation. Phasing down World Trade Organization-bound import tariffs toward their applied rates would help reduce the legal opportunities for food-deficit countries to raise their import restrictions when international prices slump. To date there is no parallel discipline in the World Trade Organization that limits increases in export restrictions when prices spike upward, however. Bringing such discipline through new World Trade Organization rules could help alleviate the extent to which government responses to exogenous price spikes exacerbate those spikes.
Author | : Kym Anderson |
Publisher | : |
Total Pages | : |
Release | : 2010 |
Genre | : |
ISBN | : |
Author | : Irene Musselli |
Publisher | : BRILL |
Total Pages | : 366 |
Release | : 2017-07-31 |
Genre | : Business & Economics |
ISBN | : 9004350543 |
In Agriculture, Price Stabilisation and Trade Rules, Irene Musselli offers a comprehensive doctrinal and historical analysis of stabilisation tools and approaches in agriculture. Using her extensive practical experience in the field, she takes up the interface of the tools discussed with trade rules and offers the first comprehensive analysis of WTO rules from the perspective of stabilisation policies. This volume offers a fresh look at the tool box of managed trade in agricultural commodities and develops new and refined solutions that take into account the legal role of equity and of graduation. Musselli offers new insights and is able to invigorate a debate caught in overly ideological entanglements between market oriented and interventionist schools.
Author | : Jean-Paul Chavas |
Publisher | : University of Chicago Press |
Total Pages | : 394 |
Release | : 2014-10-14 |
Genre | : Business & Economics |
ISBN | : 022612892X |
"The conference was organized by the three editors of this book and took place on August 15-16, 2012 in Seattle."--Preface.
Author | : Matthias Kalkuhl |
Publisher | : Springer |
Total Pages | : 620 |
Release | : 2016-04-12 |
Genre | : Business & Economics |
ISBN | : 3319282018 |
This book provides fresh insights into concepts, methods and new research findings on the causes of excessive food price volatility. It also discusses the implications for food security and policy responses to mitigate excessive volatility. The approaches applied by the contributors range from on-the-ground surveys, to panel econometrics and innovative high-frequency time series analysis as well as computational economics methods. It offers policy analysts and decision-makers guidance on dealing with extreme volatility.
Author | : Kym Anderson |
Publisher | : World Bank Publications |
Total Pages | : 682 |
Release | : 2009 |
Genre | : Business & Economics |
ISBN | : 0821376667 |
This volume in the 'Distortions to Agricultural Incentives' series focus on distortions to agricultural incentives from a global perspective.
Author | : Martin, Will |
Publisher | : Intl Food Policy Res Inst |
Total Pages | : 54 |
Release | : 2024-05-13 |
Genre | : Political Science |
ISBN | : |
Food trade barriers in many countries are systematically adjusted to insulate domestic markets from world price changes—a response not predicted by traditional political economy models. In this study, policymakers are assumed to minimize the political costs associated with changing domestic prices and deviating from longer-run political-economy equilibria. Error correction techniques applied to domestic and world price data for rice and wheat collected to measure trade policy distortions allow estimation of policy response parameters. The results suggest that systematic short-run price insulation reduces shocks to domestic prices but sharply increases world price volatility and the costs of trade distortions. However, idiosyncratic domestic price shocks resulting from inefficient policy instruments such as quantitative restrictions increase domestic price volatility relative to the magnified volatility of world prices—frequently outweighing the stabilizing impacts of price insulation. This fundamentally changes our understanding of the impacts of price-insulation—from a zero-sum game where some countries reduce the volatility of their prices using beggar-thy-neighbor policies that raise price volatility elsewhere, into one where price volatility rises in most countries. National policy reforms to move away from discretionary, destabilizing policies could lower costs, reduce volatility in domestic and world prices, and facilitate reform of international trade rules.
Author | : Food and Agriculture Organization of the United Nations |
Publisher | : Food & Agriculture Org. |
Total Pages | : 128 |
Release | : 2022-06-27 |
Genre | : Business & Economics |
ISBN | : 9251363730 |
The State of Agricultural Commodity Markets 2022 (SOCO 2022) discusses how trade policies, based on both multilateral and regional approaches, can address today’s challenges for sustainable development. Trade policies in food and agriculture should aim to safeguard global food security, address the trade-offs between economic and environmental objectives, and strengthen the resilience of the global agrifood system to shocks, such as conflicts, pandemics and extreme weather. The report discusses the geography of trade, analysing food and agricultural trade and its patterns across countries and regions, its drivers and the trade policy environment. Comparative advantage, trade policies and trade costs shape the patterns of trade in food and agriculture. When comparative advantage plays out in the global market, trade benefits all countries. Lowering tariff barriers and reducing trade costs can promote trade and economic growth. Both multilateral and regional trade agreements can facilitate the process of making trade an avenue for growth but the gains of trade are distributed unevenly. When global environmental impacts, such as climate change, are considered, a multilateral approach to trade can help expand the reach of mitigation measures.
Author | : Ian Gillson |
Publisher | : World Bank Publications |
Total Pages | : 325 |
Release | : 2014-12-04 |
Genre | : Business & Economics |
ISBN | : 1464803064 |
Increased trade integration holds considerable potential to stabilize food prices, boost returns to farmers, and reduce the prices faced by consumers. This book explores the effects of food price changes on economic welfare in developing countries, and how these can be mitigated through appropriate national policies at the border.