Global Distortions to Agricultural Markets: New Indicators of Trade and Welfare Impacts, 1955 to 2007

37 Pages Posted: 20 Apr 2016

See all articles by Peter Lloyd

Peter Lloyd

University of Melbourne - Department of Economics

Johanna L. Croser

University of Adelaide

Kym Anderson

University of Adelaide - Centre for International Economic Studies (CIES); Centre for Economic Policy Research (CEPR); Australian National University

Multiple version iconThere are 2 versions of this paper

Date Written: March 1, 2009

Abstract

Despite recent reforms, world agricultural markets remain highly distorted by government policies. Traditional indicators of those price distortions can be poor guides to the policies' economic effects. Recent theoretical literature provides indicators of trade and welfare-reducing effects of price and trade policies which this paper builds on to develop more-satisfactory indexes. The authors exploit a new Agricultural Distortion database to generate estimates of them for developing and high-income countries over the past half century. These better approximations of the trade and welfare effects of sector policies are generated without a formal model of global markets or even price elasticity estimates.

Keywords: Currencies and Exchange Rates, Economic Theory & Research, Agribusiness, Markets and Market Access, Trade Policy

Suggested Citation

Lloyd, Peter John and Croser, Johanna L. and Anderson, Kym, Global Distortions to Agricultural Markets: New Indicators of Trade and Welfare Impacts, 1955 to 2007 (March 1, 2009). World Bank Policy Research Working Paper No. 4865, Available at SSRN: https://ssrn.com/abstract=1368071

Peter John Lloyd

University of Melbourne - Department of Economics ( email )

Melbourne, 3010
Australia

HOME PAGE: http://melbecon.unimelb.edu.au/staffprofile/plloyd/home.html

Johanna L. Croser

University of Adelaide ( email )

No 233 North Terrace, School of Commerce
Adelaide, South Australia 5005
Australia

Kym Anderson

University of Adelaide - Centre for International Economic Studies (CIES) ( email )

School of Economics
Adelaide SA 5005
Australia
+61 8 8313 4712 (Phone)
+61 8 8223 1460 (Fax)

Centre for Economic Policy Research (CEPR)

London
United Kingdom

Australian National University ( email )

Arndt-Corden Dept of Economics
Coombs Building
Canberra, AK ACT 2600
Australia
+61 8 8313 4712 (Phone)

HOME PAGE: http://publicpolicy.anu.edu.au/crawford_people/content/staff/acde/kanderson.php

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