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Novel indicators of the trade and welfare effects of agricultural distortions in OECD countries

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  • Kym Anderson

    ()

  • Johanna Croser

    ()

Abstract

Agricultural markets in OECD countries have long been highly distorted by government policies. Traditional weighted average aggregates of the price distortions involved, such as producer and consumer support estimates (PSEs and CSEs), can be poor indicators of the trade restrictiveness and economic welfare losses associated with them, especially if a country’s support estimates vary a lot across the product range. Certainly estimates of trade and welfare effects of price supports can be obtained from sectoral or economywide models using price elasticity estimates, but the results can be contentious if there is no consensus on what model specification and elasticity parameters to use. This paper shows that, if there is a willingness to accept simple assumptions about elasticities, it is possible to generate indicators of the welfare and trade restrictiveness of agricultural policies using no more than the price and quantity data needed to generate PSEs and CSEs. These new indexes thus provide an attractive supplement to the current policy monitoring regime developed by the OECD Secretariat.

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Bibliographic Info

Article provided by Springer in its journal Review of World Economics.

Volume (Year): 147 (2011)
Issue (Month): 2 (June)
Pages: 269-302

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Handle: RePEc:spr:weltar:v:147:y:2011:i:2:p:269-302

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Related research

Keywords: Distorted incentives; Agricultural price and trade policies; Trade restrictiveness index; F13; F14; Q17; Q18;

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  1. Lloyd, Peter J. & Croser, Johanna L. & Anderson, Kym, 2009. "Global distortions to agricultural markets : new indicators of trade and welfare impacts, 1955 to 2007," Policy Research Working Paper Series 4865, The World Bank.
  2. Croser, Johanna & Anderson, Kym, 2010. "Changing contributions of different agricultural policy instruments to global reductions in trade and welfare," Policy Research Working Paper Series 5345, The World Bank.
  3. Douglas A. Irwin, 2010. "Trade Restrictiveness and Deadweight Losses from US Tariffs," American Economic Journal: Economic Policy, American Economic Association, vol. 2(3), pages 111-33, August.
  4. Valdés, Alberto & Zietz, Joachim A., 1980. "Agricultural protection in OECD countries: its cost to less-developed countries," Research reports 21, International Food Policy Research Institute (IFPRI).
  5. Tyers,Rod & Anderson,Kym, 1992. "Disarray in World Food Markets," Cambridge Books, Cambridge University Press, number 9780521351058, October.
  6. Anderson, Kym & Lattimore, Ralph G. & Lloyd, Peter J. & MacLaren, Donald, 2007. "Distortions to Agricultural Incentives in Australia and New Zealand," 2007 Conference (51st), February 13-16, 2007, Queenstown, New Zealand 10407, Australian Agricultural and Resource Economics Society.
  7. Anderson, Kym & Swinnen, Johan F.M., 2007. "Distortions to Agricultural Incentives in Europe’s Transition Economies," Agricultural Distortions Working Paper 48556, World Bank.
  8. Kym Anderson, 2010. "Global Distortions to Agricultural Markets: New Indicators of Trade and Welfare Impacts, 1960 to 2007," Centre for International Economic Studies Working Papers 2010-03, University of Adelaide, Centre for International Economic Studies.
  9. Anderson, Kym & Croser, Johanna L. & Lloyd, Peter J, 2009. "How Do Agricultural Policy Restrictions to Global Trade and Welfare Differ Across Commodities?," CEPR Discussion Papers 7230, C.E.P.R. Discussion Papers.
  10. Kee, Hiau Looi & Nicita, Alessandro & Olarreaga, Marcelo, 2006. "Estimating Trade Restrictiveness Indices," CEPR Discussion Papers 5576, C.E.P.R. Discussion Papers.
  11. Kym Anderson & Will Martin, 2009. "Distortions to Agricultural Incentives in Asia," World Bank Publications, The World Bank, number 2611, October.
  12. Anderson, Kym & Valenzuela, Ernesto, 2005. "Do Global Trade Distortions Still Harm Developing Country Farmers?," CEPR Discussion Papers 5337, C.E.P.R. Discussion Papers.
  13. Anderson, Kym, 2009. "Five Decades of Distortions to Agricultural Incentives," Agricultural Distortions Working Paper 48742, World Bank.
  14. James E. Anderson & J. Peter Neary, 2005. "Measuring the Restrictiveness of International Trade Policy," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262012200, December.
  15. Kym Anderson, 2009. "Distortions to Agricultural Incentives : A Global Perspective, 1955-2007," World Bank Publications, The World Bank, number 9436, October.
  16. Teresa Serra & David Zilberman & Barry K. Goodwin & Allen Featherstone, 2006. "Effects of decoupling on the mean and variability of output," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 33(3), pages 269-288, September.
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  1. > Agricultural Economics > Agricultural Policy

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