Agricultural Trade Distortions During the Global Financial Crisis

Kym Anderson

Departmental Working Papers from The Australian National University, Arndt-Corden Department of Economics

Abstract: The recent upward spike in the international price of food led some countries to raise export barriers. As in previous price spike periods, that response by some food-exporting countries was accompanied by a lowering of import restrictions by numerous food-importing countries. Both actions exacerbate the international price spike. This paper provides new evidence n the extent of change in domestic relative to international prices in both groups of countries, and compares it with responses during previous food price spike periods. Stronger WTO disciplines on export restrictions are needed to limit government responses that exacerbate such price shocks.

Keywords: Domestic market insulation; Distorted incentives; Commodity price stabilization (search for similar items in EconPapers)
JEL-codes: F14 Q17 Q18 (search for similar items in EconPapers)
Pages: 46
Date: 2012
New Economics Papers: this item is included in nep-agr
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Citations: View citations in EconPapers (48)

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Journal Article: Agricultural trade distortions during the global financial crisis (2012)
Working Paper: Agricultural trade distortions during the global financial crisis (2012)
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