Grain Price Spikes and Beggar-Thy-Neighbor Policy Responses : A Global Economywide Analysis

Jensen, Hans G ; Anderson, Kym

World Bank Group, Washington, DC

关键词: AGRICULTURAL ECONOMICS;    AGRICULTURAL PRICE;    AGRICULTURE;    ALLOCATION;    ALLOWANCE;   

DOI  :  10.1596/1813-9450-7007
RP-ID  :  WPS7007

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

When prices spike in international grainmarkets, national governments often reduce the extent towhich that spike affects their domestic food markets. Thoseactions exacerbate the price spike and international welfaretransfer associated with the terms of trade change. Severalrecent analyses have assessed the extent to which thosepolicies contributed to the 2006-08 international pricerise, but only by focusing on one commodity or using aback-of-the-envelope method. This paper provides a morecomprehensive analysis that uses a global economywide modelthat is able to take account of the interactions betweenmarkets for farm products that are closely related inproduction or consumption. The model is able to estimate theimpacts of those insulating policies on grain prices and onthe grain trade and economic welfare of various countries.The results support the conclusion from earlier studies thatthere is a need for stronger World Trade Organizationdisciplines on export restrictions.