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How Do Governments Respond to Food Price Spikes? Lessons from the Past

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Author Info

  • Kym Anderson

    ()
    (School of Economics, University of Adelaide)

  • Signe Nelgen

    ()
    (School of Economics, University of Adelaide)

Abstract

Food prices in international markets spiked upwards in 2008, doubling or more in a matter of months. Evidence is still being compiled on policy responses over the following two years, but new time series estimates of government intervention for the previous five decades allow insights into past policy responses to price fluctuations and spikes. This paper reviews the distortionary impacts of policies used by governments attempting to stabilize their domestic food markets. It then focuses on policy responses in the mid-1970s, as reflected in various annual indicators of distortions to producer and consumer incentives, before drawing out some policy lessons.

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File URL: http://www.adelaide.edu.au/cies/publications/present/CIES_DP1015.pdf
File Function: First version, 2010
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Bibliographic Info

Paper provided by University of Adelaide, Centre for International Economic Studies in its series Centre for International Economic Studies Working Papers with number 2010-15.

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Length: 37 pages
Date of creation: May 2010
Date of revision:
Handle: RePEc:adl:cieswp:2010-15

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Related research

Keywords: Commodity price stabilization policies; Domestic market insulation; Distorted incentives; Agricultural and trade policies; Trade restrictiveness indexes;

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Cited by:
  1. Colin A. Carter & Gordon C. Rausser & Aaron Smith, 2011. "Commodity Booms and Busts," Annual Review of Resource Economics, Annual Reviews, vol. 3(1), pages 87-118, October.

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