An Overview of Bilateral Trade Agreements for Agricultural Commodities in International Markets

Alan J. Webb and Edward C. Wilson

No 276716, Staff Reports from United States Department of Agriculture, Economic Research Service

Abstract: Tighter world grain markets, increased price variability, and the growing importance of the state trading agencies of developing and centrally planned countries have been major forces increasing the use of bilateral trade agreements. The terms of these agreements are examined and current trends in the pattern of trade under bilateral arrangements are identified. A theoretical trade model is developed and shows that the major impact of bilateral agreements is an increase in price and trade variability. The model is used to define a maximum limit to U.S. bilateral trade commitments for a given level of risk.

Keywords: Demand and Price Analysis; International Relations/Trade (search for similar items in EconPapers)
Pages: 50
Date: 1981-06
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:uerssr:276716

DOI: 10.22004/ag.econ.276716

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