Modeling World Peanut Product Markets: A Tool for Agricultural Trade Policy Analysis
This paper presents a new partial-equilibrium, multi-market international model developed to analyze policies affecting peanut products markets. The model covers four goods (food-quality peanuts, crush-quality peanuts, peanut oil, and groundnut cake) in 13 countries/regions (Argentina, Canada, China, the EU-15, the Gambia, India, Malawi, Mexico, Nigeria, Senegal, South Africa, the United States, and Rest of World). Welfare is evaluated by looking at consumers' equivalent variation, quasi-profits in farming (peanut farming, livestock), quasi-profits in crushing, and taxpayers' revenues and outlays implied by distortions. We calibrate the model for three recent years (1999/2000, 2000/01, and 2001/02) on historical data. We illustrate the model's applicability with a peanut trade liberalization scenario. The impact of the reform scenario is measured in deviation from the historical baseline and by averaging the three estimates of annual impacts.
|Date of creation:||May 2003|
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- John Beghin & Jean-Christophe Bureau & Sophie Drogue, 2004. "Calibration of incomplete demand systems in quantitative analysis," Applied Economics, Taylor & Francis Journals, vol. 36(8), pages 839-847.
- Ibrahima Hathie & Rigoberto A. Lopez, 2002. "The impact of market reforms on the Senegalese peanut economy," Journal of International Development, John Wiley & Sons, Ltd., vol. 14(5), pages 543-554.
- Diop, Ndiame & Beghin, John & Sewadeh, Mirvat, 2004.
"Groundnut policies, global trade dynamics, and the impact of trade liberalization,"
Policy Research Working Paper Series
3226, The World Bank.
- Diop, Ndiame & Beghin, John C. & Sewadah, Mirvat, 2005. "Groundnut Policies, Global Trade Dynamics, and the Impact of Trade Liberalization," Staff General Research Papers 12231, Iowa State University, Department of Economics.
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