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The financial crisis and its impacts on global agriculture

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  • Justin Yifu Lin
  • Will Martin

Abstract

The financial crisis arose in the industrial countries, but has affected developing countries through higher interest rates, sharp changes in commodity prices, and reductions in investment, trade, migration, and remittances. For most low-income countries, shocks that affect food prices or wage rates for unskilled workers seem likely to have the biggest impact on poverty, with the declines in key food prices associated with the crisis helping to reduce poverty. Policies to address the crisis must include measures to deal with: financial sector problems; the resulting reductions in aggregate demand; and the particular vulnerabilities of poor people. Copyright (c) The World Bank.

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Article provided by International Association of Agricultural Economists in its journal Agricultural Economics.

Volume (Year): 41 (2010)
Issue (Month): s1 (November)
Pages: 133-144

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Handle: RePEc:bla:agecon:v:41:y:2010:i:s1:p:133-144

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  1. von Braun, Joachim & Torero, Maximo, 2009. "Implementing physical and virtual food reserves to protect the poor and prevent market failure:," Policy briefs 10, International Food Policy Research Institute (IFPRI).
  2. Martin, Will & Mitra, Devashish, 2001. "Productivity Growth and Convergence in Agriculture versus Manufacturing," Economic Development and Cultural Change, University of Chicago Press, vol. 49(2), pages 403-22, January.
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