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The Political Economy of Food Price Policy: the Case of Rice Prices in Vietnam

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  • Talbot, Theodore
  • Nguyen, Manh Hai

Abstract

Rice is a key agricultural commodity in Vietnam, and the agriculture, forestry, and fisheries sector remains a major source of employment and value addition. This paper uses episodes of rice price volatility to understand how the interplay of market forces and political economy factors caused domestic and world prices to diverge, depriving producers of windfall profits, and preventing markets from clearing. The welfare consequences of mutually-inconsistent agricultural policies suggest that Vietnam and other transition economies must emphasize policy coherence by developing institutions capable of balancing the needs of distinct constituencies, such as net rice producers and consumers.

Suggested Citation

  • Talbot, Theodore & Nguyen, Manh Hai, 2013. "The Political Economy of Food Price Policy: the Case of Rice Prices in Vietnam," WIDER Working Paper Series 035, World Institute for Development Economic Research (UNU-WIDER).
  • Handle: RePEc:unu:wpaper:wp2013-035
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    File URL: https://www.wider.unu.edu/sites/default/files/WP2013-035.pdf
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    References listed on IDEAS

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    1. Frank Asche & Helge Bremnes & Cathy R. Wessells, 1999. "Product Aggregation, Market Integration, and Relationships between Prices: An Application to World Salmon Markets," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(3), pages 568-581.
    2. Vu, Linh & Glewwe, Paul, 2011. "Impacts of Rising Food Prices on Poverty and Welfare in Vietnam," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 36(1), April.
    3. Cudjoe, Godsway & Breisinger, Clemens & Diao, Xinshen, 2008. "Local impacts of a global crisis: Food price transmission and poverty impacts in Ghana," GSSP working papers 15, International Food Policy Research Institute (IFPRI).
    4. Brian D. Wright, 2011. "The Economics of Grain Price Volatility," Applied Economic Perspectives and Policy, Agricultural and Applied Economics Association, vol. 33(1), pages 32-58.
    5. Brian D. Wright, 2011. "The Economics of Grain Price Volatility," Applied Economic Perspectives and Policy, Agricultural and Applied Economics Association, vol. 33(1), pages 32-58.
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    Cited by:

    1. McKay, Andy & Tarp, Finn, 2014. "Distributional impacts of the 2008 global food price spike in Vietnam," WIDER Working Paper Series 030, World Institute for Development Economic Research (UNU-WIDER).

    More about this item

    Keywords

    Agriculture; Macroeconomics; Prices; Decision making (Public administration);

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