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Inconsistent Objectives of Agricultural Export Credit Disciplines

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  • Thompson, Wyatt

Abstract

Negotiated disciplines on export credits in agriculture are intended to (1) eliminate any subsidy element caused by preferential financing or low fees and (2) provide special and differential treatment for developing countries. Inconsistent foundations of these two objectives limit the potential for negotiations on the disciplines to succeed. The subsidy element cannot be eliminated without agreement on the benchmark. Eliminating all advantage relative to private institutions precludes any reason to continue government support. Favourable financing to developing countries would introduce a prohibited subsidy. In their capacity to provide special and differential treatment, export credits fall well short of the requirements for food aid.

Suggested Citation

  • Thompson, Wyatt, 2007. "Inconsistent Objectives of Agricultural Export Credit Disciplines," Estey Centre Journal of International Law and Trade Policy, Estey Centre for Law and Economics in International Trade, vol. 8(1).
  • Handle: RePEc:ags:ecjilt:10011
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    File URL: http://purl.umn.edu/10011
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    References listed on IDEAS

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    1. Dahl, Bruce L. & Wilson, William W. & Gustafson, Cole R., 1995. "Valuing Option Provisions for Export Credit Guarantees," Agricultural Economics Reports 23269, North Dakota State University, Department of Agribusiness and Applied Economics.
    2. Diersen, Matthew A. & Wilson, William W. & Dahl, Bruce L. & Satyanarayana, Vidyashankara, 1997. "Additionality Of Credit Guarantees For U.S. Wheat Exports," Agricultural Economics Reports 23425, North Dakota State University, Department of Agribusiness and Applied Economics.
    3. Rude, James, 2000. "Reform of Agricultural Export Credit Programs," Estey Centre Journal of International Law and Trade Policy, Estey Centre for Law and Economics in International Trade, vol. 1(01).
    4. Dahl, Bruce L. & Johnson, D. Demcey & Wilson, William W. & Gustafson, Cole R., 1995. "Credit Guarantee Programs in International Grain Markets: Background and Issues," Agricultural Economics Reports 23331, North Dakota State University, Department of Agribusiness and Applied Economics.
    5. Goodloe, Carol, 2004. "The Canadian Wheat Board: Government Guarantees and Hidden Subsidies?," Estey Centre Journal of International Law and Trade Policy, Estey Centre for Law and Economics in International Trade, vol. 5(2).
    6. Goodloe, Carol, 2004. "The Canadian Wheat Board: Government Guarantees and Hidden Subsidies," Agricultural Marketing Policy Center Agricultural Marketing Policy Papers 29160, Montana State University, Department of Agricultural Economics and Economics.
    7. Daniel A. Sumner, 1995. "Agricultural Trade Policy: Letting Markets Work," Books, American Enterprise Institute, number 53513.
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    Cited by:

    1. Cardwell, Ryan T., 2008. "Food Aid and the WTO: Can New Rules Be Effective?," Estey Centre Journal of International Law and Trade Policy, Estey Centre for Law and Economics in International Trade, vol. 9(1).

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    Keywords

    International Relations/Trade;

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