Five Decades of Distortions to Agricultural Incentives

This chapter begins with a brief summary of the long history of national distortions to agricultural markets. It then outlines the methodology used to generate annual indicators of the extent of government interventions in markets, details of which...

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Bibliographic Details
Main Author:	Anderson, Kym
Format:	Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2017
Subjects:	ADVANCED ECONOMIES AGREEMENT ON AGRICULTURE AGRICULTURAL DEVELOPMENT AGRICULTURAL ECONOMICS AGRICULTURAL EXPORT AGRICULTURAL EXPORTS AGRICULTURAL GOODS AGRICULTURAL IMPORTS AGRICULTURAL INCENTIVES AGRICULTURAL INDUSTRIES AGRICULTURAL LAND AGRICULTURAL MARKETS AGRICULTURAL OUTPUT AGRICULTURAL POLICIES AGRICULTURAL POLICY AGRICULTURAL PRICE AGRICULTURAL PRICES AGRICULTURAL PRICING AGRICULTURAL PRODUCTION AGRICULTURAL PRODUCTS AGRICULTURAL PROTECTION AGRICULTURAL PROTECTIONISM AGRICULTURAL RESEARCH AGRICULTURAL SECTOR AGRICULTURAL SECTORS AGRICULTURAL TARIFFS AGRICULTURAL TRADE AGRICULTURAL VALUE AGRICULTURE BALANCE SHEETS BORDER MEASURES BORDER PROTECTION COCOA TRADE COMMERCIAL GROUPS COMMODITIES COMMODITY MARKETS COMPARATIVE ADVANTAGE COMPARATIVE ADVANTAGES CONSTANT DOLLARS COTTON COUNTRY FIXED EFFECTS CROPS CURRENCY CURRENCY EXCHANGE DATA AVAILABILITY DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPING ECONOMIES DEVELOPMENT ECONOMICS DEVELOPMENT STRATEGY DIRECT PAYMENTS DOLLAR VALUES DOMESTIC CONSUMERS DOMESTIC ECONOMY DOMESTIC MARKET DOMESTIC MARKETS DOMESTIC PRICE DOMESTIC PRICES DOMESTIC PRODUCERS ECONOMETRIC ANALYSES ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC HISTORY EMERGING ECONOMIES EMERGING ECONOMY EQUILIBRIUM EXCHANGE RATES EXPORT EXPORT SUBSIDIES EXPORT SUBSIDY EXPORTER EXPORTERS EXPORTS FARM FARM COMMODITIES FARM COMMODITY FARM INCOME FARM INCOMES FARM PRODUCT FARM PRODUCTION FARM PRODUCTS FARM SECTOR FARM SUBSIDIES FARM SUPPORT POLICIES FARM WORKERS FARMERS FARMS FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FOOD PRICE FOOD PRICES FOOD PRODUCT FOOD PRODUCTION FOOD PRODUCTS FOOD SECURITY FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET FOREIGN TRADE FREE MARKETS FREE TRADE FREE TRADE IN GOODS FREER TRADE GDP GLOBAL ECONOMY GLOBAL EXPORTS GLOBAL MARKETS GLOBAL OUTPUT GLOBALIZATION GOVERNMENT INTERVENTION GOVERNMENT INTERVENTIONS GRAIN GROSS VALUE HIGH-INCOME COUNTRIES HIGH-INCOME COUNTRY HOUSEHOLDS IMPORT IMPORT BARRIERS IMPORT CONTROLS IMPORT DUTIES IMPORT PRICE IMPORT PROTECTION IMPORT RESTRICTIONS IMPORT TARIFF IMPORT TARIFFS IMPORT-SUBSTITUTING INDUSTRIALIZATION IMPORT-SUBSTITUTING INDUSTRIALIZATION STRATEGIES IMPORT-SUBSTITUTING INDUSTRIALIZATION STRATEGY IMPORTS IMPORTS OF RICE INCOME LEVELS INDUSTRIALIZATION INDUSTRIALIZATION STRATEGY INEFFICIENCY INFLATION INTERNATIONAL COMPETITION INTERNATIONAL MARKETS INTERNATIONAL PRICE INTERNATIONAL PRICES INTERNATIONAL TRADE INTERNATIONAL TRADE POLICIES ITC LEGAL CONSTRAINTS LESS DEVELOPED ECONOMIES LIBERALIZATION LIVESTOCK LOW-INCOME COUNTRIES MARKET DISTORTIONS MARKET ECONOMIES MARKET VOLATILITY MILK MULTILATERAL TRADE MULTIPLE EXCHANGE RATES NATIONAL ECONOMY NATIONAL INCOME OPEN ECONOMIES OPEN MARKETS OUTPUTS OVERVALUED EXCHANGE RATES PER CAPITA INCOME PER CAPITA INCOMES POLITICAL ECONOMY POULTRY POULTRY MEAT PRICE DISTORTION PRICE DISTORTIONS PRICE HIKES PRICE SUPPORT PRIMARY PRODUCTS PRIVATIZATION PROTECTIVE MEASURES PUBLIC GOOD QUANTITATIVE RESTRICTIONS RAPID ECONOMIC GROWTH RATE QUOTAS REGIONAL INTEGRATION RELATIVE PRICES RICE PRICES RISK MANAGEMENT ROUND OF MULTILATERAL TRADE NEGOTIATIONS RURAL AREAS RURAL INFRASTRUCTURE SHORTFALL SOCIALIST ECONOMIES STANDARD DEVIATION SUGAR SUPERMARKETS SUPPLY SHOCKS TARIFF RATE TAX TAXATION TECHNICAL ASSISTANCE TRADE AGREEMENTS TRADE MOVEMENTS TRADE OPENNESS TRADE POLICIES TRADE POLICY TRADE RESTRICTIONS TRADE RESTRICTIVENESS TRADE TAXES TRADE-DISTORTING MEASURES TRADING SYSTEM TRANSITION ECONOMIES URBANIZATION URUGUAY ROUND VALUE ADDED VOLUME WAGES WEALTH WEIGHTS WORLD ECONOMY WORLD TRADE WORLD TRADE ORGANIZATION WTO
Online Access:	http://documents.worldbank.org/curated/en/323681468148145431/Five-decades-of-distortions-to-agricultural-incentives http://hdl.handle.net/10986/28167

Description
Summary:	This chapter begins with a brief summary of the long history of national distortions to agricultural markets. It then outlines the methodology used to generate annual indicators of the extent of government interventions in markets, details of which are provided in Anderson and appendix A. A description of the economies under study and their economic growth and structural changes over recent decades is then briefly presented as a preface to the main section of the chapter, in which the nominal rates of assistance and consumer tax equivalents (NRA and CTE) estimates are summarized across regions and over the decades since the 1950s. These estimates are discussed in far more detail in the regional chapters that follow. A summary is also provided of an additional set of indicators of agricultural price distortions presented in chapter eleven that are based on the trade restrictiveness index first developed by Anderson and Neary (2005). In chapter twelve the focus shifts from countries to commodities, and all the various distortion indicators are used to provide a sense of how distorted are each of the key farm commodity markets globally. Then chapter thirteen uses the study's NRA and CTE estimates to provide a new set of results from a global economy-wide model that attempts to quantify the impacts on global markets, net farm incomes and welfare of the reforms since the early 1980s and of the policies still in place as of 2004. The chapter concludes by drawing on the lessons learned to speculate on the prospects for further reducing the disarray in world agricultural markets.

Five Decades of Distortions to Agricultural Incentives

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