Market-Distorting Policies: Long-Run Trends and Short-Run Insulation

Kym Anderson

Chapter Chapter 5 in Agricultural Trade, Policy Reforms, and Global Food Security, 2016, pp 85-112 from Palgrave Macmillan

Abstract: Abstract Agricultural protection and subsidies in high-income countries have been depressing international prices of farm products for many decades, while governments of many newly independent developing countries maintained anti-agricultural policies. Since those policies had an anti-trade bias, the quantity of farm products traded internationally was less, which made international food prices more volatile. From the mid-1980s, however, many countries have been reforming their trade-related policies. When placed in historical perspective, the reforms since the mid-1980s are as dramatic as the policy changes in the preceding three decades. Despite those policy reforms, most countries continue to insulate their domestic food markets from the full force of fluctuations in international prices, and plenty of diversity in price distortions remains across countries, and across commodities within each country.

Keywords: Farm Product; Welfare Cost; Domestic Price; International Prex; Price Distortion (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:pal:psachp:978-1-137-46925-0_5

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DOI: 10.1057/978-1-137-46925-0_5

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