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Policy Responses in Emerging Economies to International Agricultural Commodity Price Surges

Author

Listed:
  • Darryl Jones
  • Andrzej Kwieciński

    (OECD)

Abstract

This report examines and classifies policy responses in ten major emerging economies to the rise in international agricultural commodity prices in 2006-08. It also analyses impacts of these responses on the domestic market to evaluate their effectiveness in meeting stated policy objectives. The report separates government responses into four major types: market interventions to limit the rise in food prices, market interventions to control inflation, assistance to consumers through safety nets and support to producers. As an indication of the relative importance of these responses in a given country, the report estimates the fiscal costs of policies applied. Developments in trade flows, price transmission, inflation, consumption and production were used to investigate impacts on domestic markets and to draw policy conclusions. Market interventions to minimise the impact on consumers were not always successful, even if trade flows were disrupted, and had taxing effects on farmers who could not benefit from higher international prices. These taxing effects were often partly compensated by increased input-linked support to farmers, which had a relatively high fiscal cost in some instances.

Suggested Citation

  • Darryl Jones & Andrzej Kwieciński, 2010. "Policy Responses in Emerging Economies to International Agricultural Commodity Price Surges," OECD Food, Agriculture and Fisheries Papers 34, OECD Publishing.
  • Handle: RePEc:oec:agraaa:34-en
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    File URL: http://dx.doi.org/10.1787/5km6c61fv40w-en
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    1. repec:eee:enepol:v:116:y:2018:i:c:p:60-67 is not listed on IDEAS
    2. Magrini, Emiliano & Montalbano, Pierluigi & Nenci, Silvia & Salvatici, Luca, 2014. "Agricultural trade distortions during recent international price spikes: what implications for food security?," 2014 International Congress, August 26-29, 2014, Ljubljana, Slovenia 182726, European Association of Agricultural Economists.
    3. Elleby, Christian, 2014. "Poverty and Price Transmission," 2014 International Congress, August 26-29, 2014, Ljubljana, Slovenia 182722, European Association of Agricultural Economists.
    4. Yu, Wusheng & Bandara, Jayatilleke S., 2014. "India’s grain security policy in the era of high food prices: a computable general equilibrium analysis," 2014 International Congress, August 26-29, 2014, Ljubljana, Slovenia 182694, European Association of Agricultural Economists.
    5. Gomes, Gabriel & Hache, Emmanuel & Mignon, Valérie & Paris, Anthony, 2018. "On the current account - biofuels link in emerging and developing countries: do oil price fluctuations matter?," Energy Policy, Elsevier, vol. 116(C), pages 60-67.
    6. repec:bla:worlde:v:40:y:2017:i:8:p:1547-1568 is not listed on IDEAS
    7. Martín Rossi & Ezequiel García Lembergman & Rodolfo Stucchi, 2015. "The Impact of Restrictions to Export on Production: A synthetic controls approach," Working Papers 124, Universidad de San Andres, Departamento de Economia, revised Sep 2015.
    8. Doucha, Tomas & Jelinek, Ladislav & Medonos, Tomas, 2011. "Bioenergy – A New Chance for Czech Agriculture and its Risks," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 114433, European Association of Agricultural Economists.
    9. Brooks, Jonathan, 2014. "Policy coherence and food security: The effects of OECD countries’ agricultural policies," Food Policy, Elsevier, vol. 44(C), pages 88-94.
    10. Yu, Wusheng & Bandara, Jayatilleke S, 2015. "India’s Grain Security Policy in the Era of High Food Prices: A Computable General Equilibrium Analysis," 2015 Conference, August 9-14, 2015, Milan, Italy 211863, International Association of Agricultural Economists.
    11. Barua, Rashmi & Goel, Prarthna & Sane, Renuka, 2017. "The Effect of Age-Specific Sex Ratios on Crime: Instrumental Variable Estimates from India," Working Papers 17/214, National Institute of Public Finance and Policy.
    12. Pedro Concei ‹o & Sebastian Levine & Zuzana Brixiova, "undated". "The Food Price Spikes of 2008/09 and 2010/11: Impacts and Policies in African Countries," UNDP Africa Policy Notes 2011-003, United Nations Development Programme, Regional Bureau for Africa.
    13. Jonathan Brooks & Alan Matthews, 2015. "Trade Dimensions of Food Security," OECD Food, Agriculture and Fisheries Papers 77, OECD Publishing.
    14. Rude, James & An, Henry, 2015. "Explaining grain and oilseed price volatility: The role of export restrictions," Food Policy, Elsevier, vol. 57(C), pages 83-92.

    More about this item

    Keywords

    emerging economies; food price spikes; policy conclusions; policy responses to food price rise;

    JEL classification:

    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
    • J33 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Compensation Packages; Payment Methods
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
    • Q10 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - General
    • Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
    • Q17 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agriculture in International Trade
    • Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy

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