Revisiting the Global Food Architecture: Lessons from the 2008 Food Crisis
The 2008 episode of food price explosion, political turmoil, and human suffering revealed important flaws in the current global food architecture. This paper argues that to safeguard the strengths of the current system, four failures in market functioning and policymaking must be addressed. First, governments must reinvest in agriculture with a focus on public goods and subject to increased public accountability to re-ensure the global food supply. Second, the policy-induced link between food and fuel prices must be broken through a revision of EU and US agro-fuel policies. Third, better sharing of information on food stocks, stricter WTO regulation of export restrictions, and some form of globally managed buffer stock will be minimum requirements to prevent the resurgence of inefficient national food self-sufficiency policies. Fourth, a market-based food security system is only sustainable given well functioning national social safety nets.
|Date of creation:||2009|
|Date of revision:|
|Contact details of provider:|| Postal: Katajanokanlaituri 6B, 00160 Helsinki|
Web page: http://www.wider.unu.edu/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Jeffrey A. Frankel, 2008.
"The Effect of Monetary Policy on Real Commodity Prices,"
in: Asset Prices and Monetary Policy, pages 291-333
National Bureau of Economic Research, Inc.
- Jeffrey A. Frankel, 2006. "The Effect of Monetary Policy on Real Commodity Prices," NBER Working Papers 12713, National Bureau of Economic Research, Inc.
- Ricker-Gilbert, Jacob & Jayne, Thomas S., 2008. "The Impact of Fertilizer Subsidies on National Fertilizer Use: An Example from Malawi," 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida 6464, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- Maros Ivanic & Will Martin, 2008. "Implications of higher global food prices for poverty in low-income countries-super-1," Agricultural Economics, International Association of Agricultural Economists, vol. 39(s1), pages 405-416, November.
- Lopez, Ramon & Galinato, Gregmar I., 2007. "Should governments stop subsidies to private goods? Evidence from rural Latin America," Journal of Public Economics, Elsevier, vol. 91(5-6), pages 1071-1094, June.
- Nin Pratt, Alejandro & Yu, Bingxin, 2009.
"An Updated Look at the Recovery of Agricultural Productivity in Sub-Saharan Africa,"
2009 Conference, August 16-22, 2009, Beijing, China
51731, International Association of Agricultural Economists.
- Nin Pratt, Alejandro & Yu, Bingxin, 2008. "An updated look at the recovery of agricultural productivity in Sub-Saharan Africa:," IFPRI discussion papers 787, International Food Policy Research Institute (IFPRI).
- Tom Slayton, 2009. "Rice Crisis Forensics: How Asian Governments Carelessly Set the World Rice Market on Fire," Working Papers 163, Center for Global Development.
- Mitchell, Donald, 2008. "A note on rising food prices," Policy Research Working Paper Series 4682, The World Bank.
- Ivanic, Maros & Martin, Will, 2008. "Implications of higher global food prices for poverty in low-income countries," Policy Research Working Paper Series 4594, The World Bank.
- Kherallah, Mylène & Delgado, Christopher L. & Gabre-Madhin, Eleni Z. & Minot, Nicholas & Johnson, Michael, 2002. "Reforming agricultural markets in Africa," Food policy statements 38, International Food Policy Research Institute (IFPRI).
- David Dawe, 2008. "Can Indonesia Trust The World Rice Market?," Bulletin of Indonesian Economic Studies, Taylor & Francis Journals, vol. 44(1), pages 115-132.
- Nora Lustig, 2008. "Thought for Food: The Challenges of Coping with Soaring Food Prices," Working Papers 155, Center for Global Development.
When requesting a correction, please mention this item's handle: RePEc:unu:wpaper:2009-04. 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: (Bruck Tadesse)The email address of this maintainer does not seem to be valid anymore. Please ask Bruck Tadesse to update the entry or send us the correct email address
If references are entirely missing, you can add them using this form.