Policy Bias and Agriculture: Partial and General Equilibrium Measures
Romeo M. Bautista,
Sherman Robinson (),
Finn Tarp () and
MPRA Paper from University Library of Munich, Germany
The paper examines the impact of industrial protection, agricultural export taxes, and overvaluation of the exchange rate on the balance between the agricultural and nonagricultural sectors. Various agricultural terms-of-trade indices are constructed to measure the policy bias against agriculture in a computable general equilibrium (CGE) framework and compare the results with earlier partial equilibrium measures. Our results indicate that the partial equilibrium measures miss much of the action operating through indirect product and factor market linkages, while overstating the strength of the linkages between changes in the exchange rate and prices of traded goods on the agricultural terms of trade.
Keywords: agriculture; policy; nonagricultural sectors; CGE (search for similar items in EconPapers)
JEL-codes: C68 O25 Q1 (search for similar items in EconPapers)
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Working Paper: Policy bias and agriculture: partial and general equilibrium measures (1998)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:29473
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