Global distortions to agricultural markets: new indicators of trade and welfare impacts, 1955 to 2007

Peter J. Lloyd, Johanna L. Croser and Kym Anderson

No 4865, Policy Research Working Paper Series from The World Bank

Abstract: Despite recent reforms, world agricultural markets remain highly distorted by government policies. Traditional indicators of those price distortions can be poor guides to the policies'economic effects. Recent theoretical literature provides indicators of trade and welfare-reducing effects of price and trade policies which this paper builds on to develop more-satisfactory indexes. The authors exploit a new Agricultural Distortion database to generate estimates of them for developing and high-income countries over the past half century. These better approximations of the trade and welfare effects of sector policies are generated without a formal model of global markets or even price elasticity estimates.

Keywords: Currencies and Exchange Rates; Economic Theory&Research; Agribusiness; Markets and Market Access; Trade Policy (search for similar items in EconPapers)
Date: 2009-03-01
New Economics Papers: this item is included in nep-agr
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Citations: View citations in EconPapers (14)

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Related works:
Working Paper: Global Distortions to Agricultural Markets: New Indicators of Trade and Welfare Impacts, 1955 to 2007 (2009)
Working Paper: Global Distortions to Agricultural Markets: New Indicators of Trade and Welfare Impacts, 1955 to 2007 (2009)
Working Paper: Global Distortions to Agricultural Markets: New Indicators of Trade and Welfare Impacts, 1955 to 2007 (2009)
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