THE NEW PALGRAVE DICTIONARY OF ECONOMICS, 2nd Edition, Lawrence E. Blume and Steven N. Durlauf, eds., London: Palgrave Macmillan, Forthcoming
12 Pages Posted: 26 Jun 2008
Marketing boards (state-controlled or state-sanctioned entities legally granted control over the purchase or sale of agricultural commodities) flourished in the 20th century in both developed and developing economies. Since the mid-1980s they have declined in number under pressure from domestic liberalization and from international trade rules that increasingly cover agriculture. Where reforms have been widespread and successful, marketing boards have vanished or retreated to providing public goods, such as strategic grain reserves or insurance against extraordinary price fluctuations. Where reforms have been less successful, the weaknesses of private agricultural marketing channels have been revealed by the rollback of marketing boards, often leading to calls for reinstatement of powerful marketing boards.
Suggested Citation: Suggested Citation