IDEAS home Printed from https://ideas.repec.org/p/ags/ubonwp/147914.html
   My bibliography  Save this paper

The Politics of the Fight against Food Price Volatility – Where do we stand and where are we heading?

Author

Listed:
  • Hiemenz, Ulrich

Abstract

The paper reviews and evaluates the global political discussions of G-8 and G-20 Member countries on food security and food price volatility since the L’Aquila Initiative in 2009. It shows that some progress was achieved with respect to better coordination of agricultural policies and stricter regulation of financial markets, especially at the 2011 Cannes Summit Meeting of the G-20. However, no agreement was reached in areas crucial for food security such as biofuel mandates or agricultural trade policies. A discretionary approach towards stabilizing food prices may, however, rather exacerbate than mitigate volatility. Regarding financial markets the respective initiatives of the US and the EU prove the willingness of the executive to control excessive speculation, but the legislative procedure has not been completed, and interest groups are working to water down the proposed provisions. In the preparations for the upcoming G-8 and G-20 Meetings no new impulses for food security are discernable. The priority lists are topped by macro-economic issues. Under these circumstances developing countries will have no choice but to forge new alliances to bring the food security issue back to the global agenda.

Suggested Citation

  • Hiemenz, Ulrich, 2012. "The Politics of the Fight against Food Price Volatility – Where do we stand and where are we heading?," Working Papers 147914, University of Bonn, Center for Development Research (ZEF).
  • Handle: RePEc:ags:ubonwp:147914
    DOI: 10.22004/ag.econ.147914
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/147914/files/wp92.pdf
    Download Restriction: no

    File URL: https://libkey.io/10.22004/ag.econ.147914?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. von Braun, Joachim & Tadesse, Getaw, 2012. "Global Food Price Volatility and Spikes: An Overview of Costs, Causes, and Solutions," Discussion Papers 120021, University of Bonn, Center for Development Research (ZEF).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ganguly, Kavery & Gulati, Ashok & von Braun, Joachim, 2017. "Innovations spearheading the next transformations in India‘s agriculture," Working Papers 259006, University of Bonn, Center for Development Research (ZEF).
    2. Baumuller, Heike, 2013. "Mobile Technology Trends and their Potential for Agricultural Development," Working Papers 160565, University of Bonn, Center for Development Research (ZEF).
    3. Osman, Abdelrahman Khidir & Ali, Adil M., 2021. "Sudan - Land, climate, energy, agriculture and development: A study in the Sudano-Sahel Initiative for Regional Development, Jobs, and Food Security," Working Papers 308810, University of Bonn, Center for Development Research (ZEF).
    4. Coulibaly, Ousmane Nafolo, 2021. "Mali - Land, climate, energy, agriculture and development: A study in the Sudano-Sahel Initiative for Regional Development, Jobs, and Food Security," Working Papers 308805, University of Bonn, Center for Development Research (ZEF).
    5. Husmann, Christine & von Braun, Joachim & Badiane, Ousmane & Akinbamijo, Yemi & Abiodun, Fatunbi Oluwole & Virchow, Detlef, 2015. "Tapping Potentials of Innovation for Food Security and Sustainable Agricultural Growth: An Africa-Wide Perspective," Working Papers 228855, University of Bonn, Center for Development Research (ZEF).
    6. Mbaye, Linguere Mously & Zimmermann, Klaus F., 2016. "Natural Disasters and Human Mobility," International Review of Environmental and Resource Economics, now publishers, vol. 10(1), pages 37-56, November.
    7. Olayide, Olawale Emmanuel, 2021. "Nigeria - Land, climate, energy, agriculture and development: A study in the Sudano-Sahel Initiative for Regional Development, Jobs, and Food Security," Working Papers 308807, University of Bonn, Center for Development Research (ZEF).
    8. Siriwardane, Rapti & Winands, Sarah, 2013. "Between hope and hype: Traditional knowledge(s) held by marginal communities," Working Papers 151401, University of Bonn, Center for Development Research (ZEF).
    9. Adamou, Pr. Rabani & Ibrahim, Boubacar & Bonkaney, Abdou Latif & Seyni, Abdoul Aziz & Idrissa, Mamoudou, 2021. "Niger - Land, climate, energy, agriculture and development: A study in the Sudano-Sahel Initiative for Regional Development, Jobs, and Food Security," Working Papers 308806, University of Bonn, Center for Development Research (ZEF).
    10. Salvatierra Rojas, Ana & Torres Toledo, Victor & Mrabet, Farah & Müller, Joachim, 2018. "Improving milk value chains through solar milk cooling," Working Papers 276621, University of Bonn, Center for Development Research (ZEF).
    11. von Braun, Joachim, 2018. "Innovations to Overcome the Increasingly Complex Problems of Hunger," Working Papers 271348, University of Bonn, Center for Development Research (ZEF).
    12. Iskandar, Deden Dinar & Gatzweiler, Franz, 2014. "An optimization model for technology adoption of marginalized smallholders: Theoretical support for matching technological and institutional innovations," Working Papers 182495, University of Bonn, Center for Development Research (ZEF).
    13. Schädler, Manuel & Gatzweiler, Franz W., 2013. "Institutional Environments for Enabling Agricultural Technology Innovations: The role of Land Rights in Ethiopia, Ghana, India and Bangladesh," Working Papers 159373, University of Bonn, Center for Development Research (ZEF).
    14. Desalegn, Gashaw & Ali, Seid Nuru, 2018. "Review of the Impact of Productive Safety Net Program (PSNP) on Rural Welfare in Ethiopia," Working Papers 278228, University of Bonn, Center for Development Research (ZEF).
    15. Daum, Thomas, 2018. "Of Bulls and Bulbs: Aspirations and perceptions of rural youth in Zambia," Working Papers 275061, University of Bonn, Center for Development Research (ZEF).
    16. von Braun, Joachim & Gerber, Nicolas & Mirzabaev, Alisher & Nkonya, Ephraim M., 2013. "The Economics of Land Degradation," Working Papers 147910, University of Bonn, Center for Development Research (ZEF).
    17. Bekchanov, Maksud & Evia, Pablo, 2018. "Resources Recovery and Reuse in Sanitation and Wastewater Systems: Options and Investment Climate in South and Southeast Asian Countries," Working Papers 274732, University of Bonn, Center for Development Research (ZEF).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Fabienne Femenia & Laure Latruffe & Jean-Paul Chavas, 2021. "Responsiveness of farm investment to price changes: evidence from the French crop sector," Applied Economics, Taylor & Francis Journals, vol. 53(34), pages 3972-3983, July.
    2. Irfan Mujahid & Matthias Kalkuhl, 2016. "Do Trade Agreements Increase Food Trade?," The World Economy, Wiley Blackwell, vol. 39(11), pages 1812-1833, November.
    3. Mujahid, Irfan & Kalkuhl, Matthias, 2015. "Do the WTO and RTAs Promote Food Trade?," 2015 Conference, August 9-14, 2015, Milan, Italy 212509, International Association of Agricultural Economists.
    4. Stefan Ederer & Christine Heumesser & Cornelia Staritz, 2016. "Financialization and commodity prices -- an empirical analysis for coffee, cotton, wheat and oil," International Review of Applied Economics, Taylor & Francis Journals, vol. 30(4), pages 462-487, July.
    5. Gbadebo Oladosu & Siwa Msangi, 2013. "Biofuel-Food Market Interactions: A Review of Modeling Approaches and Findings," Agriculture, MDPI, vol. 3(1), pages 1-19, February.
    6. Tiziano Distefano & Guido Chiarotti & Francesco Laio & Luca Ridolfi, 2018. "Spatial distribution of the international food prices: unexpected randomness and heterogeneity," SEEDS Working Papers 0118, SEEDS, Sustainability Environmental Economics and Dynamics Studies, revised Jan 2018.
    7. Algieri, Bernardina, 2013. "A Roller Coaster Ride: an empirical investigation of the main drivers of wheat price," Discussion Papers 145556, University of Bonn, Center for Development Research (ZEF).
    8. Alessandro De Matteis, 2014. "Varied nutritional impact of the global food price crisis," Economics and Business Letters, Oviedo University Press, vol. 3(3), pages 166-176.
    9. Pio Baake & Steffen Huck, 2013. "Crop Failures and Export Tariffs," Discussion Papers of DIW Berlin 1342, DIW Berlin, German Institute for Economic Research.
    10. Goetz, Ariane & German, Laura & Hunsberger, Carol & Schmidt, Oscar, 2017. "Do no harm? Risk perceptions in national bioenergy policies and actual mitigation performance," Energy Policy, Elsevier, vol. 108(C), pages 776-790.
    11. Boyd, Naomi E. & Harris, Jeffrey H. & Li, Bingxin, 2018. "An update on speculation and financialization in commodity markets," Journal of Commodity Markets, Elsevier, vol. 10(C), pages 91-104.
    12. Algieri, Bernardina, 2012. "Price Volatility, Speculation and Excessive Speculation in Commodity Markets: sheep or shepherd behaviour?," Discussion Papers 124390, University of Bonn, Center for Development Research (ZEF).
    13. Distefano, Tiziano & Chiarotti, Guido & Laio, Francesco & Ridolfi, Luca, 2019. "Spatial Distribution of the International Food Prices: Unexpected Heterogeneity and Randomness," Ecological Economics, Elsevier, vol. 159(C), pages 122-132.
    14. Karimov, Aziz & Oskenbayev, Yessengali, 2013. "Is Kazakhstan Vulnerable to Natural Resource Curse?," WIDER Working Paper Series 130, World Institute for Development Economic Research (UNU-WIDER).
    15. Mirzabaev, Alisher & Tsegai, Daniel W., 2012. "Effects of weather shocks on agricultural commodity prices in Central Asia," Discussion Papers 140769, University of Bonn, Center for Development Research (ZEF).
    16. Mirzabaev, Alisher, 2015. "Impact of Agricultural Income Shocks due to Extreme Weather Events on the Food Security of the Poor in Central Asia," 2015 Conference, August 9-14, 2015, Milan, Italy 211575, International Association of Agricultural Economists.
    17. Davide Furceri & Prakash Loungani & John Simon & Susan M. Wachter, 2016. "Global food prices and domestic inflation: some cross-country evidence," Oxford Economic Papers, Oxford University Press, vol. 68(3), pages 665-687.
    18. Mori-Clement, Yadira & Bhaduri, Anik & Djanibekov, Nodir, 2014. "Food price fluctuations in Uzbekistan: Evidences from local markets in 2002-2010," 2014 International Congress, August 26-29, 2014, Ljubljana, Slovenia 183091, European Association of Agricultural Economists.
    19. Jolita Adamonis & Matthias Göcke, 2019. "Modelling economic hysteresis losses caused by sunk adjustment costs," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 42(2), pages 299-318, April.
    20. Diana Liverman, 2016. "U.S. National climate assessment gaps and research needs: overview, the economy and the international context," Climatic Change, Springer, vol. 135(1), pages 173-186, March.

    More about this item

    Keywords

    Agricultural and Food Policy; Agricultural Finance; Financial Economics; Food Security and Poverty;
    All these keywords.

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:ubonwp:147914. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: . General contact details of provider: https://edirc.repec.org/data/zefbnde.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/zefbnde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.