Multi-Market Effects of Exchange Rate Adjustment on Agriculture: The Case of the Philippines

Carlos Bautista

No 199116, UP School of Economics Discussion Papers from University of the Philippines School of Economics

Abstract: This paper presents an analysis of the impact of a devaluation of the Philippine agricultural markets using a multi-market model. The modeling technique is described and distinguished from partial and general equilibrium methods of analysis. The simulation results show that agricultural markets respond to a devaluation depending on their trade orientation and their linkages with each other. It is also shown that rural real incomes improve with a devaluation because of the income generation effects of price changes and rising export earnings. A more favorable result is obtained when devaluation is accompanied by a fertilizer subsidy.

Date: 1991-12
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Published as UPSE Discussion Paper No. 1991-16, December 1991

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Persistent link: https://EconPapers.repec.org/RePEc:phs:dpaper:199116

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