Poverty Impact of Food Price Shocks and Policies
In the event of large swings in world food prices, countries often intervene to dampen the impact of international food price spikes on domestic prices and to lessen the burden of adjustment on vulnerable population groups. While individual countri...
| Main Authors: | , , |
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| Format: | Working Paper |
| Language: | English |
| Published: |
World Bank, Washington, DC
2019
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/863311549375011898/Poverty-Impact-of-Food-Price-Shocks-and-Policies http://hdl.handle.net/10986/31228 |
| Summary: | In the event of large swings in world
food prices, countries often intervene to dampen the impact
of international food price spikes on domestic prices and to
lessen the burden of adjustment on vulnerable population
groups. While individual countries can succeed at insulating
their domestic markets from short-term fluctuations in
global food prices, the collective intervention of many
countries may exacerbate the volatility of world prices.
Insulating policies introduced during the 2010-11 food price
spike may have accounted for 40 percent of the increase in
the world price of wheat and one-quarter of the increase in
the world price of maize. Combined with government policy
responses, the 2010-11 food price spike tipped 8.3 million
people (nearly 1 percent of the world's poor) into poverty. |
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