Journal articles on the topic 'Agricultural price distortions'
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1
Hirsch, Cornelius, and Harald Oberhofer. "Bilateral trade agreements and price distortions in agricultural markets." European Review of Agricultural Economics 47, no. 3 (April 29, 2019): 1009–44. http://dx.doi.org/10.1093/erae/jbz004.
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Abstract Agricultural support levels are at a crossroad with reduced distortions in OECD countries and increasing support for agricultural producers in emerging economies observable over the last decades. This paper studies the determinants of distortions in the agricultural markets by putting a specific focus on the role of trade policy. Applying various different dynamic panel data estimators and explicitly accounting for potential endogeneity of trade policy agreements, we find that an increase in the number of bilateral free trade agreements exhibits significant short- and long-run distortion reducing effects. By contrast, our evidence suggests that WTO’s Uruguay Round Agreement on Agriculture has not been successful in systematically contributing to a reduction in agricultural trade distortions. From a policy point of view, our findings thus point to a lack of effectiveness of multilateral trade negotiations.
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Liu, Jianfang. "Government Policy, Factor Market Distortion and Structural Transformation." Finance and Market 5, no. 3 (September 2, 2020): 101. http://dx.doi.org/10.18686/fm.v5i3.2104.
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<p>Demand-driven economic structural transformation is mainly realized through the Engel Effect, and different consumption has different income elasticity. This article attempts to explain the effects of taxation, technological progress and factor price distortions on economic structure by introducing government policies and capital labor price distortions into the multi-sectorial model. The results showed that the share of agricultural labor decrease when the tax rate decreased or technological progress occurred and the share of service labor increased when the non-homothetic of utility function was stronger. Similarly, the distortion of capital and labor factor prices will also affect the structural transformation, and the relationship between the two is opposite. When the distortion of manufacturing sector factor prices increases, the structural transformation will be accelerated. However, the structural transformation slows down as the distortion of factor prices in service industry increases.</p>
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Pang, Jiaxing, Xiang Li, Xue Li, Xingpeng Chen, and Huiyu Wang. "Research on the Relationship between Prices of Agricultural Production Factors, Food Consumption Prices, and Agricultural Carbon Emissions: Evidence from China’s Provincial Panel Data." Energies 14, no. 11 (May 27, 2021): 3136. http://dx.doi.org/10.3390/en14113136.
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China is a large agricultural country with a high level of agricultural carbon emissions. Whether market prices can be used in agricultural production as a means of agricultural carbon emissions reduction is of great significance to improve the allocation of agricultural production factors and expand large-scale production. This paper applies an autoregressive distributed lag–pooled mean group(ARDL–PMG) model to evaluate the relationship between agricultural production factor prices, food consumption prices, and agricultural carbon emissions, using Chinese provincial panel data from 1994 to 2018. The results show that agricultural carbon emissions and agricultural production factor prices show environmental Kuznets curve (EKC) characteristics; agricultural carbon emissions and food prices show a U-shaped curve; and agricultural production factors are positively correlated with food price in both directions in the long-term. The results of Granger causality tests show that price is the cause of agricultural carbon emissions; the price of agricultural production factors and the price of food consumption are mutually causal. Such results have implications for price, agriculture, and environmental policies. The analysis implies that the market price can be applied to agricultural carbon reduction, which will help policymakers to implement effective price policies in order to reduce agricultural carbon emissions. One implication is that promoting the marketization of agricultural production factors and reducing price distortions will be conducive to carbon emissions reduction in agriculture, which in turn will increase food consumption prices. Therefore, subsidies are needed at the consumption end, which will eventually achieve further carbon emissions reduction at the production and consumption ends.
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Iqbal, Nuzhat. "Economic Analysis of the Effects of Wheat Price Distortions in Pakistan: 1975-90." Pakistan Development Review 31, no. 4II (December 1, 1992): 1173–85. http://dx.doi.org/10.30541/v31i4iipp.1173-1185.
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Price distortions induce the inefficient utilisation of resources by giving incorrect signals to producers and consumers. Since distorted prices do not reflect the real value of resources, quantities of goods and services produced may not be consistent with their demand. These may be caused by a number of different reasons. They may, for instance, be caused by monopolistic tendencies, preferential treatment of a particular sector of the economy, establishment or diffusion of a particular product or an input, etc. In fact, price distortions occur sometimes from deliberate and sometime inadvertent government policies of subsidies and price supports in pursuance of certain social or economic objectives. In fact, where there is no government intervention, prices equilibrate consumer demand with the productive capacities of producers. If prices are distorted by any agency their allocative role is seriously diminished. Resource use efficiencies increase if the government restricts its role to ensuring proper functioning of the market and lets prices be determined by the forces of demand and supply. Nevertheless, it is now being increasingly recognised that agricultural price distortions are inherently adverse to the national economy because they stimulate a non-optional transfer of resources out of agriculture when set too low, and putting an excessive burden on consumers when set above world prices. This study shall discuss the price intervention mechanism adopted in Pakistan, then; analyse the effects of distortions of prices and the role of distorted prices in achieving the above mentioned objectives.
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Ogundipe, Adeyemi A., Omobola Adu, Oluwatomisin M. Ogundipe, and Abiola J. Asaleye. "Macroeconomic Impact of Agricultural Commodity Price Volatility in Nigeria." Open Agriculture Journal 13, no. 1 (December 20, 2019): 162–74. http://dx.doi.org/10.2174/1874331501913010162.
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Introduction: The Nigerian economy has remained consistently heavily dependent on earnings from commodity exports which constitute over 95% external earning and 85% of budgetary and fiscal financing. Agricultural commodity exports have witnessed a significant price swings in the international market in the past few decades resulting in food price hike and macroeconomic distortions in economies heavily dependent on food imports. Methods and Materials: The study assesses the macreoconomic impact of agricultural commodity price volatility in Nigeria from 1970-2017 using Autoregressive Distributive Lag (ARDL) cointegration and Impulse-Response Function (IRF) analysis. The study adopted an atheoretical statistics to ascertain the evidence of swings in macroeconomic aggregates. Results: There was evidence of persistent fluctuations in the macroeconomic variables observed, implying that external price shocks exert a significant impact on the macroeconomic management, since bulk of national budgetary and fiscal financing is from commodity exports. Conclusion: The study found that volatile agricultural prices were responsible for a meager 2% of macroeconomic fluctuations. The empirical evidence corroborates the statistics showing that the share of agriculture in primary commodity exports has consistently remained less than 3% since the advent of crude oil. Furthermore, the study found that the swings in agricultural prices impacts foreign reserves and inflation more significantly and earlier in the time horizons than other macroeconomic aggregates.
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Anderson, Kym. "Agricultural price distortions: trends and volatility, past, and prospective." Agricultural Economics 44, s1 (June 28, 2013): 163–71. http://dx.doi.org/10.1111/agec.12060.
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Bautista, Romeo M. "Domestic price distortions and agricultural income in developing countries." Journal of Development Economics 23, no. 1 (September 1986): 19–39. http://dx.doi.org/10.1016/0304-3878(86)90077-5.
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Bojnec, Štefan, and Johan F. M. Swinnen. "The pattern of agricultural price distortions in Central and Eastern Europe." Food Policy 22, no. 4 (August 1997): 289–306. http://dx.doi.org/10.1016/s0306-9192(97)00020-1.
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Anderson, Kym, and Johanna Croser. "New Indicators of How Much Agricultural Policies Restrict Global Trade." Journal of World Trade 44, Issue 5 (October 1, 2010): 1109–26. http://dx.doi.org/10.54648/trad2010042.
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Despite recent reforms, world agricultural markets remain highly distorted by government policies. Traditional indicators of agricultural and food price distortions such as producer and consumer support estimates (PSEs and CSEs) can be poor guides to the policies’ trade effects. Two recent studies provide much better indicators of trade (and welfare)-reducing effects of farm price and trade policies, but they provide somewhat differing numbers. This article explains why those estimates differ and how they might be improved for use in ongoing annual monitoring of the trade restrictiveness of agricultural policies in both high-income and developing countries.
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Pomfret, Richard. "Using Energy Resources to Diversify the Economy: Agricultural Price Distortions in Kazakhstan." Comparative Economic Studies 51, no. 2 (May 18, 2009): 181–212. http://dx.doi.org/10.1057/ces.2008.48.
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Ani, Dorothy Patience, Emmanuel Adah Onoja, and Isaac Terna Humbe. "Partial Fuel Subsidy Removal in Nigeria." International Journal of Social Ecology and Sustainable Development 12, no. 1 (January 2021): 98–114. http://dx.doi.org/10.4018/ijsesd.2021010108.
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The ripple effects of the petrol crisis on the Nigerian economy is multi-faceted: price distortions, volatilities, dutch-disease, corruption, and inefficiencies. This study assessed the effects of partial fuel subsidy removal on agricultural sector and Nigerian economy. The study made use of secondary data obtained from Central Bank of Nigeria Statistical Bulletins, Petroleum Product Price Regulatory Agency (PPPRA), National Bureau of Statistics, Benue State Agricultural and Rural Development Authority (BNARDA), and FAO. Johansen co-integration model and t-test were the analytical tools used. After appropriate robustness checks and ensuring data stationarity, the study found that partial fuel subsidy removal had significant positive influence on the country's GDP, significantly reduced inflation rate, and also reduced life expectancy of Nigerians. Specifically, a percentage increase in petrol price significantly increases GDP by 9.8%; a percentage increase in petrol price increases the prices of rice and maize by 0.75% and 1.50% respectively. The study concludes that increased petrol price had positive effects on GDP and adverse effects on the prices of crop produce. Government should diversify and develop other economies and provide adequate infrastuctural facilities to cushion the effects of subsidy removal. Organic and low-input methods of farming should be adopted to reduce the need for fuel inputs to the food system at all levels.
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Morales, Luis Emilio, Jean Balié, and Emiliano Magrini. "How has the minimum support price policy of India affected cross-commodity price linkages?" International Food and Agribusiness Management Review 24, no. 2 (March 9, 2021): 179–96. http://dx.doi.org/10.22434/ifamr2020.0035.
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For several decades, the government of India has implemented a minimum support price (MSP) policy for agricultural commodities to reduce price risk levels for farmers. Concerns have been raised about whether this policy could affect market integration of related agricultural products, modify price incentives, and ultimately alter resource allocation and production between commodities. This study uses a panel vector auto-regression model across six states for the period 2002-2017 to analyse the effects of the MSP on the transmission of price shocks between cereals and oilseeds. The results demonstrate that the MSP partially and completely offsets price linkages between agricultural commodities, potentially introducing distortions in price incentives that affect land allocation and production between commodities. Beyond the effects of the MSP across commodities, Indian authorities can expect that price shocks on maize be transmitted to soybean over the next production period. Finally, this study demonstrates that the use of alternative data frequencies can identify differences in market reactions over time that can be related to production cycles and delays in price transmission.
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Anderson, Kym. "Globalization's effects on world agricultural trade, 1960–2050." Philosophical Transactions of the Royal Society B: Biological Sciences 365, no. 1554 (September 27, 2010): 3007–21. http://dx.doi.org/10.1098/rstb.2010.0131.
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Recent globalization has been characterized by a decline in the costs of cross-border trade in farm and other products. It has been driven primarily by the information and communication technology revolution and—in the case of farm products—by reductions in governmental distortions to agricultural production, consumption and trade. Both have boosted economic growth and reduced poverty globally, especially in Asia. The first but maybe not the second of these drivers will continue in coming decades. World food prices will depend also on whether (and if so by how much) farm productivity growth continues to outpace demand growth and to what extent diets in emerging economies move towards livestock and horticultural products at the expense of staples. Demand in turn will be driven not only by population and income growth, but also by crude oil prices if they remain at current historically high levels, since that will affect biofuel demand. Climate change mitigation policies and adaptation, water market developments and market access standards particularly for transgenic foods will add to future production, price and trade uncertainties.
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Shobande, Olatunji A., and Oladimeji Tomiwa Shodipe. "Price Stickiness in US-Corn Market: Evidence from Dsge-Var Simulation." Studia Universitatis „Vasile Goldis” Arad – Economics Series 31, no. 2 (May 21, 2021): 45–63. http://dx.doi.org/10.2478/sues-2021-0008.
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Abstract This study examines price stickiness in the United States (US) corn market using annual series data, on the dollar price of corn per bushel, obtained from the United States Department of Agriculture (USDA) and Federal Reserve Bank of Saint Louis (FRED), between 1930 and 2017. The study implemented the Calvo price stick model based on an agent in a general equilibrium and New Keynesian type, simulated using DSGE-VAR. The approach permits the indexing formula to include expected corn inflation rather than lagged inflation. The results show that corn price inflation only persists by 2% every trading year, resulting from changes in the immediate future corn-price inflation and output-gap, respectively. The shock to stochastic term only causes a partial decline in the corn price, converging at a future date with its long-run equilibrium. The experiment confirmed that corn price fluctuations are beyond the purview of the domestic economy, and any attempt to impose price policies will offset the price setting, creating further distortions and a wider gap in the corn yield. The study provides fresh insight into the Calvo price stick model of the New Keynesian type and its use to forecast agricultural outcomes.
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Faruqee, Rashid, and Kevin Carey. "Reforming the Government's Role in Pakistan's Agriculture Sector." Pakistan Development Review 34, no. 3 (September 1, 1995): 225–62. http://dx.doi.org/10.30541/v34i3pp.225-262.
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This paper assesses the role of the government in Pakistan's agriculture sector and concludes that major reforms are needed. The government's role is grouped into two main areas: price and trade policy, and public institutions, services, and expenditures. First, the paper assesses the impact of the price and trade policy on incentives and the functioning of input markets. Agricultural incentives have been severely distorted by policy, both through direct effects on agricultural prices and indirect effects operating through the exchange rate. Although indirect effects from the exchange rate have been corrected, some indirect effects remain because of higher protection given to industry. Subsidies on the input side have created distortions in input markets, dissipating much of the subsidy and its intended benefit to small farmers. Second, the paper looks at the role of public institutions. These have proliferated into almost every area of agriculture, with very little benefit to the sector. The most notable failure has been in the area of research and extension. Public enterprises have crowded out the private sector in marketing and distribution, and the rationale for government presence in these areas is not clear. Hidden expenditure also has taken place through underpricing of water and electricity, making the continued provision of these inputs financially unsustainable. The paper concludes that the role of government in agriculture has had little beneficial impact for most farmers and, therefore, major reforms are needed in policy and institutions to help sectoral growth.
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Atozou, Baoubadi, and Koffi Akakpo. "Dynamic and Volatility of World Agricultural Market Prices: Impacts on Importations and Food Security in WAEMU." International Journal of Economics and Finance 9, no. 12 (November 19, 2017): 180. http://dx.doi.org/10.5539/ijef.v9n12p180.
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Over the last decade, the use of foodstuffs such as corn, wheat and soybean in biofuels production has been growing sharply in the United States, Canada and Europe. This growth has increased total demand for agricultural commodities and stimulated agricultural prices. However, corn, rice, wheat and soybean are the most important sources of calorific energy for West African Economic and Monetary Union (WAEMU) member states’ population, and WAEMU countries are highly dependent on the imports of these products. Consequently, rising prices can have an important impact on imports and severe consequences on food security in these developing countries. This paper aims to investigate: (i) the short-term and long-term relationships between the prices of corn, rice, wheat, soybean and oil and their volatilities, and (ii) the effects of these agricultural commodities prices shocks on the imports of each WAEMU member states. The Autoregressive Distributed Lag (ARDL) model, the Multivariate Generalized Autoregressive Conditional Heteroskedasticity (MGARCH) model and the Granger causality test are used in this investigation. The results show that imports of agricultural commodities in WAEMU countries are highly and significantly sensitive to price changes in international market. In short term as well as in long term, there is a significant relationship between the prices of these products. We find a positive relationship in general between prices volatilities, and negative effects of price volatility on imports. Thus, distortions in world agricultural markets threaten considerably food security in WAEMU countries, especially access to food for vulnerable and low-income populations. Policy makers must adopt viable strategies to increase agricultural production and limit their dependence on imports.
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ALI, FARMAN, DAVID BAILEY, and ASHOK PARIKH. "Price distortions and resource use efficiency in a Pakistani province." European Review of Agricultural Economics 20, no. 1 (1993): 35–47. http://dx.doi.org/10.1093/erae/20.1.35.
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Adamopoulos, Tasso, and Diego Restuccia. "The Size Distribution of Farms and International Productivity Differences." American Economic Review 104, no. 6 (June 1, 2014): 1667–97. http://dx.doi.org/10.1257/aer.104.6.1667.
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We study the determinants of differences in farm size across countries and their impact on agricultural and aggregate productivity using a quantitative sectoral model featuring a distribution of farms. Measured aggregate factors (capital, land, economy-wide productivity) account for one-quarter of the observed differences in farm size and productivity. Policies and institutions that misallocate resources across farms have the potential to account for the remaining differences. Exploiting within-country variation in crop-specific price distortions and their correlation with farm size, we construct a cross-country measure of farm-size distortions which together with aggregate factors accounts for one-half of the cross-country differences in size and productivity. (JEL D24, J24, J43, L11, O13, Q12, Q18)
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Kassie, Girma T., Rahel Solomon Wubie, Simla Tokgoz, Fahd Majeed, Mulugeta Yitayih, and Barbara Rischkowsky. "Policy-induced price distortions along the small ruminant value chains in Ethiopia." Journal of Agribusiness in Developing and Emerging Economies 9, no. 3 (June 25, 2019): 220–36. http://dx.doi.org/10.1108/jadee-02-2018-0024.
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Purpose The purpose of this paper is to identify sources and quantifying distortions to agricultural incentives to produce along the small ruminant value chains in Ethiopia. Design/methodology/approach National and district level average nominal rate of protection (NRPs) were computed for a five-year period (2010–2015). The authors developed four scenarios based on combinations of the different data generation processes employed in relation to each of the key variables. Findings The NRPs at farm gate and retail market for both sheep and goats are negative indicating a strong deviation of producer and retailer prices from the comparable export prices over the five-year period. Policy induced distortions were separated from market inefficiencies through use of data on access costs throughout the value chain. These access costs are positive and significant in value. It is clear that market inefficiencies are also due to government policy to a certain extent. Research limitations/implications This study focuses only on sheep and goat value chains and covers only five-year period. This certainly limits the extrapolability of the results. Originality/value This study presents the extent to which smallholder livestock keepers are discouraged through disincentives in a unique context. This is the first study done on small ruminant value chains in the developing world.
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TAKASAKI, YOSHITO. "Dynamic household models of forest clearing under distinct land and labor market institutions: can agricultural policies reduce tropical deforestation?" Environment and Development Economics 12, no. 3 (June 2007): 423–43. http://dx.doi.org/10.1017/s1355770x07003567.
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This paper develops four agricultural household models of forest clearing – as both an input for current production and an investment in future production – over two periods under distinct land and labor market institutions. Five different effects of policies on farmers' forest clearing decisions are identified. Careful comparison of their relative magnitudes reveals (potential) pro-forest policies under distinct market conditions. In Latin American countries, poor early settlers are often bid off their cleared land after or without cultivation by wealthy large holders. With this ‘sell-out effect,’ price transfer and technological transfer for soil management targeting poor colonists and policy reforms eliminating land price distortions are recommended to arrest deforestation. On the other hand, especially in places where land transaction opportunities are nil like Sub-Saharan African countries, policies promoting non-agricultural activities among poor farmers are needed.
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Mukhtar, Thair, and Muhammad Tariq Javed. "Price Integration in Wholesale Maize Markets in Pakistan." Pakistan Development Review 46, no. 4II (December 1, 2007): 1075–84. http://dx.doi.org/10.30541/v46i4iipp.1075-1084.
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Continuing debate concerning the appropriate role of the government in the marketplace and the necessity to some how estimate the effects of agricultural policies on agricultural markets have forced researchers to develop various methods, which would enable them to analyse market efficiency. Government intervention in setting prices, incomes and markets is always controversial. For economists, government intervention may be justified if it does not enhance distortions into the market and, moreover, remedies the existing market imperfections. But how can one observe whether the policy proves to improve market functioning or results in even more inefficiency? One way to throw some light on this long-standing issue is to analyse market performance by studying market integration. Three types of market integration are identified in the literature, which are intertemporal, vertical and spatial. Inter-temporal market integration relates to the arbitrage process across periods. Vertical market integration is concerned with stages in marketing and processing channels. Spatial integration is concerned with the integration of spatially distinct markets i.e. if price changes in one market are fully reflected in alternative market then these markets are said to be spatially integrated. The concept of market integration has normally been applied in studies involving spatial market interrelatedness.
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Hervani, Aref A. "Oligopsony/Oligopoly Power and Factor Market Performance: The Case of U.S. Old Newspapers." Journal of Agricultural and Applied Economics 35, no. 3 (December 2003): 555–69. http://dx.doi.org/10.1017/s1074070800028285.
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This paper derives price-cost margins for the old newspaper (ONP) input market for newsprint manufacture and then examines the effects of two government policies and two variables measuring the market performances of ONP input and newsprint output on the oligopsonist's ONP price-cost margins. In the wastepaper recycling market in particular, the ONP input market has not been successful in using the ONP generated. The outcomes of the study are that various degrees of price distortions existed in the ONP input markets in four regions of the United States during 1972–1995. Demand-side policy had a positive effect and supply-side policy had a negative effect on ONP price–cost margins in all regions.
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Gaasland, Ivar. "The Political Economy of Agricultural Price Distortions edited by Kym Anderson Cambridge: Cambridge University Press, 2010." World Trade Review 10, no. 3 (June 9, 2011): 417–21. http://dx.doi.org/10.1017/s1474745611000243.
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Khalid Mahmood Lodhi and Naeem Ahmed. "Menace of Middlemanship in the Light of Islamic Teachings." Islamic Banking and Finance Review 8, no. 1 (October 13, 2021): 61–77. http://dx.doi.org/10.32350/ibfr.81.04.
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Despite abundant agricultural production, the prices of fruits, vegetables, and other agricultural items remain high, keeping these products out of the a common man’s reach. Although small and poor farmers work hard throughout the year, yet they remain indebted and poor. There might be various reasons for their plight such as the extraordinarily high prices of agri-food items; however, the role of the middleman (Arhti) seems to be the most damaging in this regard. This paper analyses the role palyed by the middleman in Pakistan in the light of Islamic teachings and primary (through survey questionnaire) and secondary data. The study found that generally, the middleman is a cruel character and causes distortions in the economy, particularly in the agro-food market. He deprives poor farmers of meaningful profit, keeps them under the pressure of debt, and causes price hikes of essential items which leads to artificial inflationary pressures in the economy. Ultimately, this phenomenon exerts pressure on the government as well. The current study also found that the presence of middleman in the supply chain of agro-food items deprives poor farmers of their right of earning genuine profit.Moreover, it also increases the price of essential food items. Hence, in the light of Shariah guidelines, unnecessary brokering needs to be restricted so that farmers are able to sell their produce themselves. Furthermore, the middleman’s role needs to be curtailed for the welfare of the farmers, improvement of the agriculture sector, and the betterment of the economy. The study recommends the framing of comprehensive long-term policies for the purchase of crops, monitoring of fruit / vegetable markets, provision of interest-free loans to farmers, setting up of an efficient market mechanism, establishment of effective consumer courts, and the improvement of the transportation system.
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Khalid Mahmood Lodhi and Naeem Ahmed. "Menace of Middlemanship in the Light of Islamic Teachings." Islamic Banking and Finance Review 8, no. 1 (October 13, 2021): 61–77. http://dx.doi.org/10.32350/ibfr/2021/08/1289.
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Despite abundant agricultural production, the prices of fruits, vegetables, and other agricultural items remain high, keeping these products out of the a common man’s reach. Although small and poor farmers work hard throughout the year, yet they remain indebted and poor. There might be various reasons for their plight such as the extraordinarily high prices of agri-food items; however, the role of the middleman (Arhti) seems to be the most damaging in this regard. This paper analyses the role palyed by the middleman in Pakistan in the light of Islamic teachings and primary (through survey questionnaire) and secondary data. The study found that generally, the middleman is a cruel character and causes distortions in the economy, particularly in the agro-food market. He deprives poor farmers of meaningful profit, keeps them under the pressure of debt, and causes price hikes of essential items which leads to artificial inflationary pressures in the economy. Ultimately, this phenomenon exerts pressure on the government as well. The current study also found that the presence of middleman in the supply chain of agro-food items deprives poor farmers of their right of earning genuine profit.Moreover, it also increases the price of essential food items. Hence, in the light of Shariah guidelines, unnecessary brokering needs to be restricted so that farmers are able to sell their produce themselves. Furthermore, the middleman’s role needs to be curtailed for the welfare of the farmers, improvement of the agriculture sector, and the betterment of the economy. The study recommends the framing of comprehensive long-term policies for the purchase of crops, monitoring of fruit / vegetable markets, provision of interest-free loans to farmers, setting up of an efficient market mechanism, establishment of effective consumer courts, and the improvement of the transportation system.
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Domonkos, Endre. "The Consequences of Stalinist Economic Policy in Hungary (1949-1953)." Multidiszciplináris kihívások, sokszínű válaszok, no. 1 (August 31, 2022): 3–31. http://dx.doi.org/10.33565/mksv.2022.01.01.
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By 1948, with the eradication of private property ownership and multi-party-system, the institutional background of the Soviet-type dictatorship was created by the Hungarian Workers Party (HWP). In economic terms, forced industrialisation became buzzword, whereas both agricultural and infrastructural development were neglected by the communist leadership. The forced collectivisation in the agriculture, accompanied by the postponement of necessary investments led to a permanent shortage of goods. Compulsory deliveries coupled with the application of the principle of quantity further aggravated the situation of the agrarian sector. As a result of aggressive campaign against the wealthy peasants and forced collectivisation, 300 000 people ceased to work in the agriculture and were employed by industry. Within the centrally planned economy, profitability, cost of production, marketability and quality of products were neglected. Only one principle was taken into account, which was the fulfilment or overfulfilment of the global production plan index and all other criteria were ignored by decision-makers. Foreign trade relations were embedded within the framework of the command economy. Foreign trade corporations were set up and world market prices became hermetically isolated from domestic prices. Within Comecon, the endeavour of the USSR was to reduce any dependency of the socialist bloc on world markets and to achieve self-sufficiency. The introduction of fixed prices in 1950 led to serious price distortions, whilst Hungary depended on increasing import of raw material, which was essential for the development of heavy industry. Therefore, the targets of foreign trade were not fulfilled during the period 1949-53. The irrational economic objectives of the first Five-Year Plan produced lasting damages in the national economy of Hungary.
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Tey, Y. S., S. Darham, A. F. Mohd Noh, and N. Idris. "Acreage response of paddy in Malaysia." Agricultural Economics (Zemědělská ekonomika) 56, No. 3 (April 9, 2010): 135–40. http://dx.doi.org/10.17221/54/2009-agricecon.
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This study investigated the relative impacts of various factors on acreage response of paddy by analyzing time series data of 1961–2007 via first difference logarithmic functional form of linear Nerlovian expectation model. It is apparent that future paddy price can be identical like previous year. Farmers, therefore, do not have additional incentives to adjust to desired paddy planted area. This scenario is further illustrated by farmers’ inelastic response to government supports (incentives). Paddy planted area is not likely to be responsive to the incentives. Paddy price is found associated with higher production cost and may result in a shrink of paddy planted area in Malaysia. All the emerging findings from this study provide an important message for an imperative need to correct paddy related policies so as to reduce the distortions and increase economic efficiency.
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Chen, Yu-Hui, Chun-Lin Lee, Guan-Rui Chen, Chiung-Hsin Wang, and Ya-Hui Chen. "Factors Causing Farmland Price-Value Distortion and Their Implications for Peri-Urban Growth Management." Sustainability 10, no. 8 (August 1, 2018): 2701. http://dx.doi.org/10.3390/su10082701.
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Taiwan’s Agricultural Development Act (ADA) of 2000 relaxed farmland ownership criteria and allowed non-farmers to own farms. Although this opened up the market and induced a growth in farmland trading, relaxing these criteria without proper monitoring resulted in rapid development of farmhouses that fragmented farmlands, adversely affecting agricultural production and the quality of peri-urban environments, and increased management difficulties. Relaxing farmland ownership criteria also provided opportunities for speculation, which pushed up farmland prices, causing farmland price to deviate from its production value. We used a price:value ratio as an index of price-value distortion to explore farmland price-value distortion spatially using a geographical information system (GIS). Yilan County was used as a case study since its agricultural lands suffer high development pressure due to ready accessibility from the Taipei metropolitan area. Ordinary least square and quantile regression were used to identify factors driving distortion in Yilan County. Finally, we discuss the distortion and key factors for specific sites in Yilan to assess the urban sprawl and propose a preliminary course of action for peri-urban growth management. Our findings suggest that residential activities stimulate farmland price-value distortion but do not enhance farmland value. Designation of a land parcel as agricultural within an urban area allows for speculation and increases distortion. The land parcel’s association with infrastructure such as road and irrigation systems, and the price of agricultural products, are significantly correlated with distortion. Most of these identified factors increased farmland price because of the potential for non-agricultural land-use. We propose that to resolve farmland price-value distortion in Yilan, multi-functional values, in addition to agriculture, must be envisioned.
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Absell, Christopher David. "European strategic trade policy and Brazilian export growth during the nineteenth century." Estudos Econômicos (São Paulo) 52, no. 1 (March 2022): 7–41. http://dx.doi.org/10.1590/1980-53575211cda.
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Abstract Until the Amazonian rubber boom, cane sugar and coffee were the two most important export commodities for Brazil during the nineteenth century. Despite inherent differences in methods of cultivation, both sugar and coffee at once benefitted and suffered from the characteristics of Brazil’s factor endowment in land, labour and capital. Yet these two export commodities demonstrated divergent growth patterns across the nineteenth century. The difference was not one of relative productivity and thus price competitiveness disadvantage, but of the imperfectly competitive nature of the international market for each commodity. European governments actively practised strategic trade policy to transfer profits from foreign to domestic or colonial firms. These market distortions were exogenous, imposed by consumer markets, and took the form of European colonial tariff preferences and subsidies to domestic production. Coffee suffered less from imperfect competition, thus remaining more profitable to Brazilian agricultural producers in the long run.
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ABOGAN, Opeyemi Philips, Egbewole OLAJIDE, and Olusola OLOBA. "The Impact of Deregulation of the Economy on Nigerian Commercial Banks; A Case Study of Some Selected Commercial Banks in Ilesa, Osun State." Australian Journal of Business and Management Research 03, no. 10 (October 1, 2013): 19–27. http://dx.doi.org/10.52283/nswrca.ajbmr.20130310a02.
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The study looks at the impact of deregulation of the economy on Nigerian commercial banks; A case study of some selected commercial banks in Ilesa, Osun State. The economy policies pursued prior to 1985 made the Nigeria economy price distortions created by a highly over-valued currency and inappropriate pricing of agricultural and other local products. The control measure introduced prior to deregulation of the economy were unable to improve the economy positively. Instead, that period was characterized by short-supply of industrial inputs, plant closure, large retrenchment of workers, and shortage of goods and price inflation coupled with unfavourable balance of payment. Data were gathered from some selected commercial banks in Ilesa, Osun State Nigeria through issuing of questionnaires and from some secondary sources such as CBN statistical bulletin, Publications and other relevant materials. The major deregulation policies were deregulation of interest rates structure, introduction of second tier foreign exchange market. Since the Federal Government is contemplating deregulation as the only paramount solution to distorted economic structure. The study therefore recommends that banking industry [commercial banks] needs to reposition itself to take full advantage of the gains which might arise from such deregulation. Commercial banks should equally anticipate and sensitize themselves with the challenges of a deregulated economy.
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DASTAGIRI, M. B., B. GANESH KUMAR, A. DHANDAPANI, and NAGA SINDHUJA P V. "Economics of India’s agricultural domestic and international prices during WTO regime: signals and policies." Indian Journal of Agricultural Sciences 92, no. 5 (June 14, 2022): 587–92. http://dx.doi.org/10.56093/ijas.v92i5.124668.
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Prices play a great role in living economics. Prices act as signals for shortages and surpluses which help government, firms, consumers to respond to changing market conditions. The study was conducted at NAARM, Hyderabad. The study period was from 1990–91 to 2018–19. Trends, growth rates, terms of trade, instability, elasticities, domestic and international agriculture price analysis were employed for achieving objectives. An increasing trend of MSP has been found in India’s major agricultural crops. Minimum Support Price (MSP) growth rate of pulses were more than cereals and oilseeds. WPI growth rate of pulse crops was greater than the cereal and oilseed crops except sorghum. The variation in WPI of major agricultural commodities in India was stable except sunflower. Consumer food price index has shown more or less linear trends. It indicates Government monitoring food prices stable. The variation inexport price of rice and sunflower and import price of sorghum was stable. The study found that India has comparative advantage for rice, gram, groundnut and soybean crops in international markets. The export price elasticities of rice, wheat, gram, groundnut, soybean and sunflower was observed to be marginally higher than their import price elasticities. The findings can be useful to government in designing price fixing mechanism and monetary policy, distortion of prices and control of inflation
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GIRZHEVA, Olga. "Marketing activity of agricultural producers in the context of development of marketing systems of their products." Actual problems of innovative economy, no. 2020/3 (June 25, 2020): 24–30. http://dx.doi.org/10.36887/2524-0455-2020-3-4.
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Introduction. The efficiency of all participants in the domestic market of agri-food products significantly depends on the quality of implementation of procedures for managing the production and commercial activities of entities that belong to the spheres of production and circulation of this market. The objective circumstance that explains this process is that market relations form a complex system, which is the environment of interaction of market participants, whose behavior significant-ly affects the success of their activities. The subjective circumstance is the action of the situational component of the for-mation of the situation, which may also to some extent be a consequence of the implementation of the marketing policy of individual market participants. The purpose of the article is to determine the impact of marketing activities of producers on the formation of market characteristics of the domestic market of agricultural products and identify their features inherent in the domestic economy. Results. On the basis of a complex scientific research, the elements of the marketing complex of the subjects of the domestic market of agricultural products were systematized. It is established that all the structural and functional tools of the marketing complex are used to varying degrees by the subjects of the agricultural market to form a competitive advantage, especially in the short term. At the same time, it is through competitive mechanisms that marketing measures influence the formation of market characteristics of the market of agricultural products. And it is thanks to them that the market equilibri-um is disturbed, which, in turn, becomes the lever of the evolution of the market under consideration. It is the presence of disparities in the possibilities of application of the marketing complex by different functional groups of market participants that leads to distortions in the volume and price dynamics of the market and makes the latter more profitable for maintaining market positions of dominant market groups. Key words: marketing activity, agricultural producers, market of agricultural products, sales, marketing tools.
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Cherepanova, D. M., Yu N. Nikulina, and R. G. Yanbykh. "Assessment of the level of state support for the agrarian sector in Russia and the European Union." Agricultural Science Euro-North-East 23, no. 5 (October 27, 2022): 740–50. http://dx.doi.org/10.30766/2072-9081.2022.23.5.740-750.
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The article provides the research of the state support for agriculture in Russia using the methodology of the Organization for Economic Cooperation and Development (OECD). The overall estimation of support for agricultural producers in Russia, considering not only budget transfers but also price support in 2020 amounted to 749 billion rubles or 12 % of gross revenue. At the same time, budgetary transfers account for 31.9 %. A significant amount is accounted for by the support of the market price, which is estimated through the difference between domestic and reference prices (prices "at the border") by the types of agricultural products. In the case of Russia, pork, poultry and beef producers received more than 655 billion rubles in 2020 as a result of price support. On the contrary, hidden taxation is typical for crop producers; about 308 billion rubles were withdrawn from them because of the pricing policy. However, the high overall market price support for agricultural producers in Russia in 2020 suggests that transfers from consumers exceed transfers in the form of subsidies. For comparison, price support in Russia and the EU on average for 2013-2020 was 44 % and 17 %, respectively. It is shown that in the EU 75% of the total support for agriculture is provided through the least market-distorting forms (support for general services, creation of state reserves to ensure food security), in Russia – 27 %. From the point of view of the sustainability of agriculture, the measures to support general services (infrastructure, science and education, innovation support) have the greatest impact on the volume of gross value added of the industry in Russia. The correlation coefficient for this type of support is the highest - 0.93, while the coefficient of determination is high – 86 %. This leads to the main recommendation on the adjustment of the agrarian budget in favor of supporting general services, which, in addition to the high positive effect on agricultural production, refers to least market-distorting measures and does not have the disadvantage of unequal access to agricultural producers, in contrast to, for example, direct subsidies and concessional loans.
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Yang, Fan, Kirsten Urban, Martina Brockmeier, Eddy Bekkers, and Joseph Francois. "Impact of increasing agricultural domestic support on China’s food prices considering incomplete international agricultural price transmission." China Agricultural Economic Review 9, no. 4 (November 6, 2017): 535–57. http://dx.doi.org/10.1108/caer-01-2016-0001.
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Purpose The purpose of this paper is to develop a modelling approach that enables the analysis of long-term food security policies. Specifically, the authors explore the effect of China’s agricultural domestic support on its agricultural and food market by also considering the impact of incomplete price transmission. Design/methodology/approach The authors extend the standard Global Trade Analysis Project (GTAP) modelling framework. First, the authors incorporate incomplete price transmission into the GTAP model by generating tariff-equivalent price transmission elasticities. Second, the authors improve the current representation of China’s agricultural domestic support in the GTAP model and the underlying database by considering the production requirements and the trade-distorting effect of different policy instruments. Running a set of simulations, the authors examine first how the incorporation of incomplete price transmission affects the model’s results and second how increased agricultural domestic support affects China’s agricultural and food market accounting for incomplete price transmission. Findings Considering incomplete price transmission mitigates the domestic price increases as responses to high international agricultural prices, which also lead to an increase in China’s trade deficit and prohibits net food sellers from receiving high prices. In the long term, an increase in China’s agricultural domestic support to its World Trade Organisation de minimis commitment level would increase domestic agricultural production and reduce its demand pressure on the international market. Originality/value This paper contributes to the literature by examining the impact of increased agricultural domestic support on the domestic market while innovatively accounting for incomplete food price transmission. The authors combine econometric estimated price transmission elasticities and an extended GTAP framework to underscore the importance of enhancing the model’s ability in accounting for incomplete price transmission when analysing the impact of agricultural policies.
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Atozou, Baoubadi, Kotchikpa Gabriel Lawin, Aristide Bonsdaouende Valea, and Sirine Aouini. "Short and Long-term Asymmetric Farm-Retail Price Transmission Analysis in the Canadian Agri-food Industry: Evidence from Dairy and Pork Sectors with Threshold Cointegration Models." Journal of Food Research 8, no. 2 (March 1, 2019): 66. http://dx.doi.org/10.5539/jfr.v8n2p66.
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Empirical studies show that market concentration and pricing policies regulation have an important impact on price transmission. These factors lead to an asymmetric price transmission, particularly in agricultural commodities markets. This paper investigates farm-retail price transmission along the Canadian dairy and pork values chains using Threshold Autoregressive, Momentum Threshold Autoregressive, Error Correction Models and Granger causality test. Using monthly price data, we found that farm-retail price transmission is asymmetric in short and long-term between raw milk and butter price while it is symmetric in the cheese case. In the pork sector, price transmission is asymmetric in long-term and symmetric in short-term between farm price and respectively pork chops and bacon prices. Because of processor and retailer concentration, consumer prices respond more quickly to upward than downward of farm prices. The processors, retailers and distributors concentration along the value chain in Canadian dairy and pork sectors and the supply management regulation policies as well as income stabilization insurance program are the main factors generating this market structure. Consideration of the characteristics of farmers, processors, and retailers in the value chain and the actors’ potential reactions to the agricultural policy could better protect consumers and producers from market distortion.
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Sun, Laixiang. "Integrating China into the Global Economy. By Nicholas Lardy [Washington, DC: The Brookings Institution Press, 2002. x+244 pp. Hard cover $48.95, ISBN 0-8157-5136-2; paperback $19.95, ISBN 0-8157-51235-4.]." China Quarterly 176 (December 2003): 1084–85. http://dx.doi.org/10.1017/s0305741003210638.
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This book assesses the extent of China's increasing integration into the global economy during the reform era and explores the likely global impact of China's membership in the World Trade Organization (WTO). The five chapters of the book cover China's pre-WTO trade reforms; the terms of China's final WTO accession package; and the implications of China's WTO membership for foreign companies, world trade, the international trading system, and US-China relations. It presents sober and reasoned analyses of these issues and represents a solid attempt to take stock of China's economic progress to date and its prospects over the coming decade.Witnessing the mounting publications on this subject, one may wonder what perspectives or insights from this book are still worth repeating and remembering. Within this short review, I would like to highlight the following three.First, Lardy contends that, contrary to popular wisdom in the media and research literature, China's economy had become far more open than Japan's and it was ready to join the WTO. Before WTO entry China had already achieved the lowest tariff protection of any developing country and had also shrunk non-tariff barriers impressively. Most price distortions were eliminated in the decade before WTO entry and much of the necessary industrial and agricultural restructuring was already underway before accession. Other substantial progress included expansion of trade rights, adoption of current account convertibility, vast expansion of the legal scope for foreign investment, legalized development of the private sector, and establishment of basic social security systems in urban areas. If this assessment is correct, why did it take 15 years for China to get into the WTO? Lardy argues that the long waiting “reflects as much the rising bar imposed by members of the Working Party . . . as China's slowness to embrace the principles of the multilateral trading system” (p. 9). This leads to the second insightful message.
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Westlake, M. J. "The measurement of agricultural price distortion in developing countries." Journal of Development Studies 23, no. 3 (April 1987): 367–81. http://dx.doi.org/10.1080/00220388708422038.
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Chaudhry, M. Ghaffar, and Shamim A. Sahibzada. "Comparative Advantage in Pakistan's Agriculture: The Concept and the Policies." Pakistan Development Review 33, no. 4II (December 1, 1994): 803–17. http://dx.doi.org/10.30541/v33i4iipp.803-817.
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The current debate on policy issues for enhancing agricultural productivity in Pakistan revolves around one issue and that is the substantial misallocation of resources in Pakistan's agriculture. As a result, it is believed, resources are drawn away from commodities in which Pakistan has a strong comparative advantage and towards commodities in which it is a relatively inefficient producer. Cotton is cited in the former and sugarcane in the latter case. It is suggested that if prices of these commodities are corrected and all distortions are removed, then increased specialisation, strictly in accordance with the comparative advantage principle, would ensure maximum gains from improved farm efficiency and enhance the welfare of the farm population. It is also argued that even if international prices of agricultural commo'dities decline due to the increase in production, Pakistani farmers should not suffer great losses since they currently receive prices which are far below the international prices [Chaudhry and Kayani (1991)].
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Yang, Xing, Miao Hou, Jun Wang, Xinyuan Zhang, and Songgan Weng. "Integrated agricultural water pricing reform (IAWPR) in China: a state-of-the-art review with focus on strategic significance, policy design, reform process and case reform effect." Water Policy 24, no. 2 (February 1, 2022): 242–60. http://dx.doi.org/10.2166/wp.2022.095.
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Abstract The integrated agricultural water pricing reform (IAWPR) is by far the most systematic, complex and longest reform in the agricultural sector of China. It has lasted for decades from the stage of reform exploration to the current reform development. IAWPR can effectively address resourced price distortion and promote rational allocation of agricultural water resources. By improving China's agricultural water pricing mechanism, government agricultural subsidy mechanism, water-saving incentive mechanism, operation and management (O&M) mechanism of irrigation systems and water quota mechanism, the reform will promote water conservation in agriculture and ensure the effective operation of irrigation systems. It is a major strategic decision made by the Chinese government to address the water security challenges facing sustainable development. This paper reviews the course of the reform, introduces the policy design, key tasks and implementation of the reform, and takes Jiangsu Province as an example to demonstrate the effect of the reform, but also discusses the problems existing in the reform.
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Romero, José. "Mexican Agriculture: Distribution and Efficiency Effects of Eliminating Price Distortions." World Economy 21, no. 5 (July 1998): 659–74. http://dx.doi.org/10.1111/1467-9701.00155.
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YU, WUSHENG, and HANS G. JENSEN. "Trade policy responses to food price crisis and implications for existing domestic support measures: the case of China in 2008." World Trade Review 13, no. 4 (December 16, 2013): 651–83. http://dx.doi.org/10.1017/s1474745613000335.
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AbstractMany national governments around the world applied export restrictions in order to achieve domestic market stabilization during the 2007/8 world food price crisis. However, current literature says little about how these export restrictions interact with existing domestic support measures in jointly determining domestic market outcomes. This paper analyzes this interaction by providing a quantitative assessment on how increased spending on agricultural domestic support in China offset the negative effects on grain production caused by the country's export restrictions and how these two types of measures jointly moderated rises of domestic grain prices. In particular, domestic and trade measures on key agricultural inputs such as fertilizers are shown to contribute significantly to expand grain outputs and reduce domestic market prices. While the short-term goal in stabilizing domestic grain prices was achieved through these measures, large fiscal and efficiency costs were incurred, especially considering how the short-term export restrictions seemingly necessitated the extra spending on input-based domestic subsidies. We also demonstrate that the costs to China and the rest of the world of these complicated policy interventions may be partially avoidable with a simpler and less distorting instrument.
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Terra, Simone Braga, and José Enrique Lopes da Costa. "Nível de informação e consumo da população sobre produtos orgânicos em Santana do Livramento, Rio Grande do Sul." Revista Verde de Agroecologia e Desenvolvimento Sustentável 12, no. 2 (June 17, 2017): 311. http://dx.doi.org/10.18378/rvads.v12i2.4822.
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<p class="CorpodoresumoIVCBM"><span>A preocupação com a contaminação dos alimentos por resíduos de agrotóxicos têm motivado mudanças nas técnicas de manejo agrícola, com destaque para a produção orgânica. Porém, uma grande parcela da população ainda desconhece a definição de alimento orgânico, seus benefícios e suas características, havendo muitas distorções acerca do assunto. Nesse contexto, objetivou-se realizar a avaliação do nível de conhecimento e consumo da população do município de Santana do Livramento, Rio Grande do Sul, sobre os produtos oriundos da agricultura orgânica, através de entrevista qualitativa e quantitativa a partir da aplicação de questionário fechado, direcionado a diferentes grupos sociais, como comerciários, estudantes e funcionários públicos da zona central. Os resultados evidenciaram que o perfil do consumidor de produtos orgânicos é predominantemente feminino (62,5%), com grau de escolaridade superior completo (32,5%), de classe social média (37,5%), que estão em busca de uma melhor qualidade de vida, preservação da saúde e por busca de um alimento saudável. Como entraves ao consumo, destaca-se o preço final no mercado de varejo, a falta de divulgação dos benefícios e a pequena variedade de alimentos orgânicos ofertados. Constata-se que no município existe um mercado promissor para a comercialização dos produtos orgânicos, que poderá ser melhor explorado via difusão de informações à população e melhor exposição nas gôndolas dos mercados e das feiras livres. </span></p><p align="center"><strong><em>Level of information and consumption of the population on organic products in Santana of the Livramento, Rio Grande do Sul</em></strong></p><p><strong>Abstract</strong><strong>: </strong>The preoccupation with the contamination of the foods for pesticides residues they have been causing changes in the techniques of agricultural handling, with distinction for the organic production. However, a great piece of the population still does not know the definition of organic food, his benefits and his characteristics, when many distortions are her around the subject. In this context, this inquiry had as I aim to carry out the evaluation of the level of knowledge and accomplish of the population of local authority of the Santana do Livramento, Rio Grande do Sul, on the products originating from the organic agriculture. The results showed up that the profile of the consumer of organic products is predominantly feminine (62,5 %), with complete degree of superior schooling (32,5 %), of middle social class (37,5 %), which are in search of a better quality of life, preservation of the health and for search of a healthy food. Since you should hamper to the consumption, the final price stands out in the market of retail trade, the lack of spread of the benefits and the small variety of offered organic foods. It is noticed that in the local authority there is a promising market for the marketing of the organic products, what will be able to be better explored he was seeing diffusion of informations to the population and better exhibition in the racks of the markets and of the markets.</p>
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Fausti, Scott W., Matthew A. Diersen, and Bashir A. Qasmi. "Public Price Reporting in the Cash Market for Live Cattle: A Spatial Market Approach." Agricultural and Resource Economics Review 36, no. 2 (October 2007): 336–48. http://dx.doi.org/10.1017/s1068280500007139.
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Legislative authorization for the Livestock Mandatory Reporting Act of 1999 was renewed in October of 2006. One of the cited justifications for implementing mandatory reporting was that the voluntary reporting system for the slaughter cattle cash market was unable to provide accurate and timely market information. We extend the spatial market analysis literature by developing a methodology for detecting distortions in spatial relationships across related price series. Using spatially linked regional markets, we compare state-level mandatory price-reporting data to the U.S. Department of Agriculture voluntarily reported state data to determine if the spatial relationship between price-reporting mechanisms was disrupted by market distortions prior to implementation of federal mandatory price reporting. We found no empirical evidence of system failure; therefore, we conclude that market thinning or noncompetitive behavior had not reached the level necessary to disrupt the ability of the voluntary price-reporting system to provide timely and accurate price information.
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Sharif, Shahzad, M. Siddique Javed, Azhar Abbas, and Sarfraz Hassan. "Impact of WTO’s Trade Liberalisation on Selected Food Crops in Pakistan." Pakistan Development Review 47, no. 4II (December 1, 2008): 547–63. http://dx.doi.org/10.30541/v47i4iipp.547-563.
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There is a great potential in Pakistan for production of all types of food commodities due to vast natural resource base, covering various ecological and climatic zones. Most of the agricultural commodities produced in the country are consumed by the local population while the rest is exported in the form of primary products and some value added products. Previously, Pakistani products had a good market overseas with no restrictions of quality and quantity but under the changing environment affected by WTO, it is expected that Pakistan will face a strong competition in the agriculture sector from its competitors in the world market. According to the neoclassical trade theory, trade flows and pattern will develop along the lines of comparative advantage and competitiveness that can act as indicators of trade potential and direction. There has been extensive government involvement in the determination of the overall structure of agriculture and its patterns of production, employment and trade. Pakistani government has been intervening in agriculture sector in the past in order to support agricultural production, income supports, ensure food security, improve the balance of trade, reduce consumer prices, address environmental and regional concerns and to pursue sanitary and phyto-sanitary objectives [Hassan (1995)]. Pakistan is a founding member of the General Agreement on Tariffs and Trade (GATT) since its creation. Following the Uruguay Round negotiations, all agricultural products were brought under multinational trade rules by WTO, under the Agreement on Agriculture. This established a framework to begin liberalising agricultural trade through the reduction of import duties (tariffs), trade-distorting production subsidies and export subsidies. Prior to the Uruguay Round, trade in agriculture was highly distorted. Market access for agricultural products was limited as most markets were restricted by physical import barriers. The presence of massive domestic subsidies led to overproduction of temperate crops in the developed countries that led to excess supply, and export subsidies were used to dump the surplus agricultural output in international markets. This resulted in depressed market prices and, in spite of being low-cost producers of agricultural products; developing countries could not compete with the subsidised exports from developed countries.
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Jarosz-Angowska, Aneta, and Magdalena Kąkol. "Comparative Analysis of Support to Agriculture in the QUAD Countries in 1986-2014." Zeszyty Naukowe SGGW w Warszawie - Problemy Rolnictwa Światowego 16, no. 4 (December 31, 2016): 140–54. http://dx.doi.org/10.22630/prs.2016.16.4.107.
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The purpose of this paper is a comparative analysis of support provided to agriculture sector by the QUAD countries in 1986-2014. The authors examined the changes in levels and structures of this support and tried to assess it from the point of view of its impact on the QUAD economies and markets. In the analysis conducted there were used especially the OECD data and indexes measuring state support to agriculture including: Total Support Estimate, Producer Support Estimate, General Services Support Estimate and Consumer Support Estimate. In the last three decades in all the examined economies, there has been a reduction in agricultural support in relation to GDP, although no distinct change has occurred in terms of the amount of aid in absolute terms (in the US its value even increased almost twice). As regards the changes in structure of support, the most favorable tendencies took place in the European Union where the market price support (MPS), i.e. the most distorting aid to the functioning of the market mechanism, was significantly reduced. One can also positively assess the support structure in the United States where about half of the agricultural budget is earmarked to consumers. Canada has very good economic outcomes as regard the agriculture sector even though it allocates the least amount of financial resources to support agriculture in relation to GDP among all the QUAD economies. However, despite a large part of this support is in the form of general services (GSSE), the country is characterized by an unfavorable trend of increasing expenditure on price support. Throughout the period considered the most harmful support policy from the point of view of market competition was led by Japan though it has affected to a lesser extent the functioning of international agri-food markets due to the lower importance of Japanese agricultural production and exports in the world economy in comparison to the EU and the US.
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Ufomba, Henry. "A Wrong Sound in the Quest for a Symphony? The WTO and the Impact of EU’s Common Agricultural Policy on Africa: Insight from Senegal." African Review 48, no. 1 (March 23, 2021): 286–300. http://dx.doi.org/10.1163/1821889x-12340045.
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Abstract This paper is situated within the growing debate on how the domestic economic policies of developed countries condition that of the developing countries through the mechanism of international trade relations under the auspices of the WTO. Using the framework of the dependency theory I shall examine the economic impact of the EU Common Agricultural Policy (CAP) on Africa with critical attention on the agricultural sector of the former, drawing empirical evidence from the present situation in Senegal. This answered the overarching question: How does the EU CAP affect the economies of Africa in general and Senegal in particular? The empirical evidence from Senegal’s experience presented in this paper revealed that CAP negatively affects the economic growth of Africa through the suffocation of its agricultural sector as a result of its distortion of the domestic price and the inability of local farmers to produce at a price that can compete equally with the heavily subsidized imported alternatives from the EU.
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Anderson, Kym, and Chantal Nielsen. "Economic Effects of Agricultural Biotechnology Research in the Presence of Price-Distorting Policies." Journal of Economic Integration 19, no. 2 (June 15, 2004): 374–94. http://dx.doi.org/10.11130/jei.2004.19.2.374.
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Harvey, D. R. "Policy prospects for the hills and uplands." BSAP Occasional Publication 18 (January 1994): 7–21. http://dx.doi.org/10.1017/s0263967x00001464.
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AbstractThe arguments presented in this paper strongly support the stated intention of the European Commission that farm product prices must be set more competitively with the world market. Indeed, they go further. The only long-term sustainable agricultural policy for the European Community is to let farm products compete unsupported on a free-trade world market (the ultimate objective of the GATT negotiations). This does not deny either justification or need for some form of compensation to the present industry for the loss of support. However, the argument does clearly require that such compensation should be ‘neutral’ — that it should not distort or alter production and allocation decisions from those which would be taken in the absence of such compensation. The only genuinely neutral compensation would be single lump sum capital transfer through a government bond issue. However, failing this, definitely limited annual support payments independent of current production decisions and relating to past production quantities less than those which would be produced under uncompensated free-trade would be ‘quasi neutral’, and might as a result be acceptable as non-distorting under GATT. In this sense, the price reduction proposals currently being discussed are a definite step in the right direction, especially for cereals.Nevertheless, agriculture faces a continued period of difficult adjustment, especially difficult in the hill and upland areas. As far as conventional agriculture is concerned, there is little prospect of these areas being able to compete directly in the final consumer markets at world price competitive levels. Their comparative advantage will lie with the production of breeding and store animals, to be finished on grass or grain in more productive locations. Fewer people will be able to earn a full-time living from agriculture in these areas and other things being equal, hill and upland farms seem likely to become even more extensive ranching operations than is the case at present. However, other things are not equal. It seems likely that society will continue to value the non-productive elements of hill and upland agriculture, which in many cases are seen as adding to the amenity and landscape qualities of these regions. Since the demand for these features will grow, ways will be found to supplement farming incomes in these areas (especially) in order to conserve the landscape, wildlife and amenity characteristics.
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Kumbhakar, Subal C., and Arunava Bhattacharyya. "Price Distortions and Resource-Use Efficiency in Indian Agriculture: A Restricted Profit Function Approach." Review of Economics and Statistics 74, no. 2 (May 1992): 231. http://dx.doi.org/10.2307/2109654.
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Das, Sannoy. "Food Security Amendments to the WTO Green Box: A Critical Re-Examination." Journal of World Trade 50, Issue 6 (December 1, 2016): 1111–32. http://dx.doi.org/10.54648/trad2016044.
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This article deals with one among the many significant issues with the World Trade Organization (WTO) Agreement on Agriculture that brought trade negotiations during the Doha Round to a standstill; and it continuous to remain contentious. The genesis of the conflict lies in a proposal to amend the Agreement to exclude certain policies of price support, given by developing countries to answer their food security goals, from the disciplines of the Agreement. The issue has thrown into sharp relief the overall conflict between development oriented goals and trade liberalization within the WTO legal order. This article posits that the most significant opposition to the amendment pretends to be economic in content, while masking an obviously political nature. In order to unmask this, the article investigates some theoretical foundations of subsidy regulation in WTO law, and particularly attacks the concept of distortion which is frequently used to classify subsidies. This article aims to show that as a theoretical matter, the amendment to Agreement on Agriculture is not perniciously trade-distorting as has been projected, and that developing countries can stake legitimate claim to have such amendment passed. Finally, through such argument, the article aims to place the conflict between two normative ideals, trade liberalization and food security in proper perspective.