Global Distortions to Agricultural Markets: Indicators of Trade and Welfare Impacts, 1960 to 2007

20 Pages Posted: 19 Apr 2010

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

Abstract

Despite recent reforms, world agricultural markets remain highly distorted by government policies. Traditional indicators of those price distortions such as producer and consumer support estimates (PSEs and CSEs) can be poor guides to the policies' economic effects. Recent theoretical literature provides scalar index numbers of trade- and welfare-reducing effects of price and trade policies which this paper builds on to develop more-satisfactory indexes that can be generated using no more than the data used to generate PSEs and CSEs. We then exploit a new Agricultural Distortion database to provide time-series estimates of index numbers for 75 developing and high-income countries over the past half-century.

Suggested Citation

Lloyd, Peter John and Croser, Johanna L. and Anderson, Kym, Global Distortions to Agricultural Markets: Indicators of Trade and Welfare Impacts, 1960 to 2007. Review of Development Economics, Vol. 14, No. 2, pp. 141-160, May 2010, Available at SSRN: https://ssrn.com/abstract=1590534 or http://dx.doi.org/10.1111/j.1467-9361.2010.00544.x

Peter John Lloyd (Contact Author)

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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