Subsidies! The Other Incentive-Based Instrument: The Case of the Conservation Reserve Program

Hongli Feng, Catherine Kling, Lyubov Kurkalova (lakurkal@ncat.edu) and Silvia Secchi

Center for Agricultural and Rural Development (CARD) Publications from Center for Agricultural and Rural Development (CARD) at Iowa State University

Abstract: In this paper, we examine command-and-control (CAC) policies and market-based instruments (MBI) in the context of the Conservation Reserve Program (CRP). The CRP, an MBI in the form of subsidies, is by far the largest agro-environmental policy implemented to date. We compare the environmental performance of the CRP as implemented to a few counterfactual CAC polices using EPIC (Environmental Policy Integrated Climate), a bio-physical simulation model. In the context of multiple environmental indicators, no policy alternative emerges as a clear winner. The importance of the choice and design of CAC policies is emphasized.

Keywords: command-and-control policy; Conservation Reserve Program; market-based instrument. (search for similar items in EconPapers)
Date: 2003-10
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Citations: View citations in EconPapers (3)

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Related works:
Working Paper: Subsidies! The Other Incentive‐Based Instrument: The Case of the Conservation Reserve Program (2006)
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