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World Price Variability versus Protectionism in Agriculture: A Causality Analysis

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  • Larue, Bruno
  • Ker, Alan

Abstract

This paper investigates the direction of the prima facie causal relationship between world price variability and protectionism in two agricultural sectors. Parametric and non-parametric causality tests involving an unanticipated measure of world price variability are performed and compared. The results of the tests reflect the fact that the nature of government intervention in agriculture varies across sectors and countries. As argued by Holmes and Hutton (1990), the non-parametric approach is efficient in identifying weak causal relations and is especially convenient when parametric causality tests based on different functional forms generate different results. Also, the effect of protectionism on world price variability is either insignificant or positive and as such contrasts with the ambiguity suggested by recent theoretical developments. Copyright 1993 by MIT Press.

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  • Larue, Bruno & Ker, Alan, 1993. "World Price Variability versus Protectionism in Agriculture: A Causality Analysis," The Review of Economics and Statistics, MIT Press, vol. 75(2), pages 342-346, May.
    • Handle: RePEc:tpr:restat:v:75:y:1993:i:2:p:342-46
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    Cited by:

    1. Larue, Bruno & Pouliot, Sébastien, 2016. "Exporters’ Preferences over Import Protection Instruments when Markets are Volatile," 149th Seminar, October 27-28, 2016, Rennes, France 246419, European Association of Agricultural Economists.
    2. Eskandar Elmarzougui & Bruno Larue, 2013. "On the Evolving Relationship Between Corn and Oil Prices," Agribusiness, John Wiley & Sons, Ltd., vol. 29(3), pages 344-360, June.
    3. Wenting Wang & Longbao Wei, 2021. "Impacts of agricultural price support policy on price variability and welfare: Evidence from China's soybean market," Agricultural Economics, International Association of Agricultural Economists, vol. 52(1), pages 3-17, January.
    4. Maximilian Koppenberg & Martina Bozzola & Tobias Dalhaus & Stefan Hirsch, 2021. "Mapping potential implications of temporary COVID‐19 export bans for the food supply in importing countries using precrisis trade flows," Agribusiness, John Wiley & Sons, Ltd., vol. 37(1), pages 25-43, January.
    5. Larue Bruno & Tanguay Luc, 1999. "Regional Price Dynamics and Countervailing Duties: Did the Canada-U.S. Hog/Pork Dispute Have a Permanent Impact?," International Economic Journal, Taylor & Francis Journals, vol. 13(1), pages 81-101.
    6. Wang, Wenting & Wei, Longbao, 2019. "Impacts of agricultural price support policies on price variability and welfare: evidence from China’s soybean market," 2019 Annual Meeting, July 21-23, Atlanta, Georgia 288334, Agricultural and Applied Economics Association.
    7. Ghazalian, Pascal & Tamini, Lota & Larue, Bruno & Gervais, Jean-Philippe, 2007. "A Gravity approach to evaluate the significance of trade liberalization in vertically-related goods in the presence of non-tariff barriers," MPRA Paper 2744, University Library of Munich, Germany.
    8. Elmarzougui, Eskandar & Larue, Bruno, 2011. "On the Evolving Relationship between Corn and Oil Prices," Working Papers 118580, University of Laval, Center for Research on the Economics of the Environment, Agri-food, Transports and Energy (CREATE).

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