 Revisiting the Global Food Architecture. Lessons from the 2008 Food CrisisReview of Business and Economic Literature, 2009, vol. 54, issue 3, 345-362 Abstract: The 2008 episode of food price explosion, political turmoil and human suffering revealed important flaws in the current global food architecture. This paper argues that to safeguard the strengths of the current system, four failures in market functioning and policymaking need to be addressed. First, governments should reinvest in agriculture with a focus on public goods and subject to increased public accountability to re-ensure the global food supply. Second, the policy-induced link between food and fuel prices must be broken through a revision of EU and US agro-fuel policies. Third, better sharing of information on food stocks, stricter WTO regulation of export restrictions, and some form of globally managed buffer stock will be minimum requirements to prevent the resurgence of more inefficient national food self-sufficiency policies. Fourth, a market based food security system is only sustainable given well functioning national social safety nets. Date: 2009 There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:sen:rebelj:v:54:i:3:y:2009:p:345-362 Access Statistics for this article Review of Business and Economic Literature is currently edited by Hans Kluwer More articles in Review of Business and Economic Literature from Intersentia |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.