Bilateralism in Agriculture when Countries use Distorting Domestic Policies
A recent theoretical research proved that countries always have an incentive to deviate from global free trade when international markets are oligopolistic and when governments are politically biased. This result suggests that global free trade in agriculture (GFTA) cannot be reached as political bias and market power have both been identified. According to May (2011), bilateral agreements could eventually be used as alternative political tools to reach GFTA. This article extends the work of this author to determine whether bilateralism could also lead to GFTA in a realistic world where governments use distorting domestic policies to protect their agricultural sector.
|Date of creation:||02 Sep 2011|
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- Steve McCorriston, 2002. "Why should imperfect competition matter to agricultural economists?," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 29(3), pages 349-371, July.
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- Brent Hueth & Philippe Marcoul, 2006. "Information Sharing and Oligopoly in Agricultural Markets: The Role of the Cooperative Bargaining Association," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 88(4), pages 866-881.
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