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Revisiting the Global Food Architecture: Lessons from the 2008 Food Crisis

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Author Info
Luc Christiaensen
Abstract

The 2008 episode of food price explosion, political turmoil, and human suffering revealed important flaws in the current global food architecture. This paper argues that to safeguard the strengths of the current system, four failures in market functioning and policymaking must be addressed. First, governments must reinvest in agriculture with a focus on public goods and subject to increased public accountability to re-ensure the global food supply. Second, the policy-induced link between food and fuel prices must be broken through a revision of EU and US agro-fuel policies. Third, better sharing of information on food stocks, stricter WTO regulation of export restrictions, and some form of globally managed buffer stock will be minimum requirements to prevent the resurgence of inefficient national food self-sufficiency policies. Fourth, a market-based food security system is only sustainable given well functioning national social safety nets.

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File URL: http://www.wider.unu.edu/publications/working-papers/discussion-papers/2009/en_GB/dp2009-04/_files/82162024434499621/default/dp2009-04.pdf
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Publisher Info
Paper provided by World Institute for Development Economic Research (UNU-WIDER) in its series Working Papers with number WIDER Discussion Paper 2009-04.

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Length: 16 pages
Date of creation: 2009
Date of revision:
Handle: RePEc:unu:wpaper:2009-04

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Related research
Keywords: agriculture; agro-fuels; food crisis; food security;

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References listed on IDEAS
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  1. Kherallah, Mylène & Delgado, Christopher L. & Gabre-Madhin, Eleni Z. & Minot, Nicholas & Johnson, Michael, 2002. "Reforming agricultural markets in Africa," Food policy statements 38, International Food Policy Research Institute (IFPRI). [Downloadable!]
  2. Ricker-Gilbert, Jacob & Jayne, T.S., 2008. "The Impact of Fertilizer Subsidies on National Fertilizer Use: An Example from Malawi," 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida 6464, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
  3. Ivanic, Maros & Martin, Will, 2008. "Implications of higher global food prices for poverty in low-income countries," Policy Research Working Paper Series 4594, The World Bank. [Downloadable!]
  4. David Dawe, 2008. "Can Indonesia Trust The World Rice Market?," Bulletin of Indonesian Economic Studies, Taylor and Francis Journals, vol. 44(1), pages 115-132. [Downloadable!] (restricted)
  5. Lopez, Ramon & Galinato, Gregmar I., 2007. "Should governments stop subsidies to private goods? Evidence from rural Latin America," Journal of Public Economics, Elsevier, vol. 91(5-6), pages 1071-1094, June. [Downloadable!] (restricted)
  6. Nora Lustig, 2008. "Thought for Food: The Challenges of Coping with Soaring Food Prices," Working Papers 155, Center for Global Development. [Downloadable!]
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