Agricultural Policy and Trade Reform: The Impact on World

Centro de Documentación e Información Mtro. Jesús Silva Herzog CEDI
Agricultural Policy and Trade Reform: The Impact on World Commodity Markets.
OECD
Instituto de Investigaciones Económicas, UNAM
Centro de Documentación e Información
Programa de Servicios de Bancos de Información
INTER t i p s ... 2 0 0 7
en información económica
© Victor Medina
Agricultural Policy and Trade Reform: The Impact on World Commodity Markets. 2007, vol. 2007, no. 4, OECD, pp. 1 102
Abstract
The governments of most developed, and many developing, countries impose border measures-tariffs, tariff rate quotas
and export subsidies-to boost the domestic market prices of agricultural commodities. In some OECD countries,
governments also provide financial support to their agricultural sector through other means, such as direct budgetary
payments, production quotas and marketing-loan programs. These interventions typically distort the allocation of
resources, leading to sub-optimal production and consumption decisions.
Widespread agricultural policy reform would undoubtedly improve the global allocation of resources. But, due to
differential protection levels and policy instruments across commodities and among countries, reform can also produce a
complex pattern of adjustments, some of which may appear to be counter-intuitive. Using a partial-equilibrium agricultural
commodity model with rich policy detail, this study examines the market impacts of agricultural policy reform annually
over a 10-year horizon. The study finds that the biggest impacts of agricultural policy reform would be on world dairy
markets. Including the effect of non-agricultural liberalisation from a general-equilibrium model does not meaningfully
alter results, suggesting that sectoral analysis in many cases is sufficient.
Políticas Agrícolas y Reforma al Comercio: El Impacto en el Mercado Mundial de Materias Primas: Libro en SourceOECD
http://biblioteca.iiec.unam.mx
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