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National Policy Responses to High Food Prices

Author

Listed:
  • Jamie Morrison
  • George Rapsomanikis
  • Alexander Sarris
  • Ramesh Sharma

Abstract

The prices of many staple food commodities have increased substantially over the past year. As a result, many developing countries are facing larger food import bills. The cereal import bill of the world’s poorest countries is forecast to rise by 56 percent in 2007/08, following an already significant increase of 37 percent in 2006/07. Given the growing dependency of many developing countries on imported food commodities and on foreign aid, as well as their generally high levels of debt, increasing food prices have important implications for growth and development.

Suggested Citation

  • Jamie Morrison & George Rapsomanikis & Alexander Sarris & Ramesh Sharma, 2008. "National Policy Responses to High Food Prices," FAO - Economic and Social Perspectives 1, Economic and Social Development Department of the Food and Agriculture Organization of the United Nations (FAO).
    • Handle: RePEc:fao:pbrief:01en
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    File URL: http://www.fao.org/economic/es-policybriefs/briefs-detail/en/?no_cache=1&uid=21524
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    More about this item

    Keywords

    food prices; food crisis; price shock; FAO; commodities; staple food;
    All these keywords.

    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • F54 - International Economics - - International Relations, National Security, and International Political Economy - - - Colonialism; Imperialism; Postcolonialism
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment
    • Q17 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agriculture in International Trade

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