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Food Security, Arbitrage and Tariffs

Author

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  • Kerr, William A.

Abstract

Arbitrage underpins food security. This is best illustrated by examining famines with their roots in natural disruptions to local food production. Such famines were common up until the early 20th century because the infrastructure to take advantage of arbitrage opportunities did not exist. Economic development combined with technical progress in transportation and communications has meant that such famines are no longer manifest. Policy-based barriers to arbitrage, however, such as tariffs still exist. While famine may not be the result of their imposition, the hardships caused by higher prices for food can lead to lower degrees of food security, especially for those with lower incomes.

Suggested Citation

  • Kerr, William A., 2026. "Food Security, Arbitrage and Tariffs," Estey Centre Journal of International Law and Trade Policy, Estey Centre for Law and Economics in International Trade, vol. 27(1), June.
    • Handle: RePEc:ags:ecjilt:404253
    DOI: 10.22004/ag.econ.404253
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    References listed on IDEAS

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    1. William A. Kerr, 2020. "The COVID‐19 pandemic and agriculture: Short‐ and long‐run implications for international trade relations," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 68(2), pages 225-229, June.
    2. Kerr, William A., 2025. "Why Has It Been So Difficult to Provide Assessments of New Tariffs?," Estey Centre Journal of International Law and Trade Policy, Estey Centre for Law and Economics in International Trade, vol. 26(2), December.
    3. Jill E. Hobbs, 2020. "Food supply chains during the COVID‐19 pandemic," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 68(2), pages 171-176, June.
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