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Rebalancing Ec Cereals Protection And The Gatt Uruguay Round

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  • S. McCorriston

Abstract

This paper considers the proposals put forward by the EC at the GATT Uruguay Round in December 1990. The EC's objective of rebalancing the Common Agricultural Policy in the context of a partial liberalisation of agricultural support on the world cereals market is assessed, as is the choice of base year from which liberalisation would have been initiated. The US's proposal for more significant reduction in agricultural support is also considered. The results show that the EC would not necessarily have benefited from rebalancing, since the effects would have depended on the choice of base period. For example, with 1986 (1988) as the base year, net welfare changes would have been 20 (50) percent higher (lower) with rebalancing, relative to the case without. Not surprisingly, the more substantial liberalisation proposed by the US would have resulted in greater net welfare gains even if rebalancing was conceded by the US.

Suggested Citation

  • S. McCorriston, 1993. "Rebalancing Ec Cereals Protection And The Gatt Uruguay Round," Journal of Agricultural Economics, Wiley Blackwell, vol. 44(1), pages 14-24, January.
  • Handle: RePEc:bla:jageco:v:44:y:1993:i:1:p:14-24
    DOI: 10.1111/j.1477-9552.1993.tb00247.x
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    References listed on IDEAS

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    1. Gleckler, James & Tweeten, Luther, 1990. "The Impact of the Common Agricultural Rebalancing on the U.S., the European Community, and the World: The Basis for Agreement," Occasional Papers 233057, Regional Research Project NC-194: Organization and Performance of World Food Systems.
    2. Roningen, Vernon O. & Dixit, Praveen M., 1990. "Assessing the implications of freer agricultural trade," Food Policy, Elsevier, vol. 15(1), pages 67-75, February.
    3. D. Greenaway, 1991. "The Uruguay Round Of Multilateral Trade Negotiations: Last Chance For Gatt?," Journal of Agricultural Economics, Wiley Blackwell, vol. 42(3), pages 365-379, September.
    4. Bickerton, Thomas W. & Glauber, Joseph W., 1990. "World Oilseed Markets--Government Intervention and Multilateral Policy Reform," Staff Reports 278284, United States Department of Agriculture, Economic Research Service.
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    1. H. Guyomard & L. P. Mahé & K. J. Munk & T. L. Roe, 1993. "Agriculture In The Uruguay Round: Ambitions And Realities," Journal of Agricultural Economics, Wiley Blackwell, vol. 44(2), pages 245-263, May.

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