Policy Bias and Agriculture: Partial and General Equilibrium Measures
The paper examines the impact of industrial protection, agricultural export taxes, and overvaluation of the exchange rate on the balance between the agricultural and nonagricultural sectors. Various agricultural terms-of-trade indices are constructed to measure the policy bias against agriculture in a computable general equilibrium (CGE) framework and compare the results with earlier partial equilibrium measures. Our results indicate that the partial equilibrium measures miss much of the action operating through indirect product and factor market linkages, while overstating the strength of the linkages between changes in the exchange rate and prices of traded goods on the agricultural terms of trade. Copyright 2001 by Blackwell Publishing Ltd
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Volume (Year): 5 (2001)
Issue (Month): 1 (February)
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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Bautista, Romeo M. & Robinson, Sherman & Tarp, Finn & Wobst, Peter, 1998.
"Policy bias and agriculture: partial and general equilibrium measures,"
TMD discussion papers
25, International Food Policy Research Institute (IFPRI).
- Bautista, Romeo M, et al, 2001. "Policy Bias and Agriculture: Partial and General Equilibrium Measures," Review of Development Economics, Wiley Blackwell, vol. 5(1), pages 89-104, February.
- Bautista, Romeo M. & Robinson, Sherman & Tarp, Finn & Wobst, Peter, 2001. "Policy Bias and Agriculture: Partial and General Equilibrium Measures," MPRA Paper 29473, University Library of Munich, Germany.
- Bautista, Romeo M., 1987. "Production incentives in Philippine agriculture: effects of trade and exchange rate policies," Research reports 59, International Food Policy Research Institute (IFPRI).
- Krueger, Anne O & Schiff, Maurice & Valdes, Alberto, 1988. "Agricultural Incentives in Developing Countries: Measuring the Effect of Sectoral and Economywide Policies," World Bank Economic Review, World Bank Group, vol. 2(3), pages 255-71, September.
- Ceglowski, Janet, 1994. "The Law of One Price Revisited: New Evidence on the Behavior of International Prices," Economic Inquiry, Western Economic Association International, vol. 32(3), pages 407-18, July.
- de Melo, Jaime & Robinson, Sherman, 1981. "Trade Policy and Resource Allocation in the Presence of Product Differentiation," The Review of Economics and Statistics, MIT Press, vol. 63(2), pages 169-77, May.
- Pier Giorgio Ardeni, 1989. "Does the Law of One Price Really Hold for Commodity Prices?," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 71(3), pages 661-669.
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