COVID-19 and Food Protectionism : The Impact of the Pandemic and Export Restrictions on World Food Markets

This paper analyzes the impact of Covid-19 and uncooperative trade policies on world food markets. It quantifies the initial shock due to the pandemic under the assumption that products that are more labor intensive in production are more affected...

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Main Authors: Espitia, Alvaro, Rocha, Nadia, Ruta, Michele
Format: Working Paper
Language:English
Published: World Bank, Washington, DC 2020
Subjects:
Online Access:http://documents.worldbank.org/curated/en/417171589912076742/Covid-19-and-Food-Protectionism-The-Impact-of-the-Pandemic-and-Export-Restrictions-on-World-Food-Markets
http://hdl.handle.net/10986/33800
id okr-10986-33800
recordtype oai_dc
spelling okr-10986-338002022-09-20T00:10:05Z COVID-19 and Food Protectionism : The Impact of the Pandemic and Export Restrictions on World Food Markets Espitia, Alvaro Rocha, Nadia Ruta, Michele CORONAVIRUS COVID-19 PANDEMIC RESPONSE FOOD PROTECTIONISM TRADE POLICY EXPORT RESTRICTIONS FOOD PRICES GLOBAL FOOD MARKETS This paper analyzes the impact of Covid-19 and uncooperative trade policies on world food markets. It quantifies the initial shock due to the pandemic under the assumption that products that are more labor intensive in production are more affected through workers' morbidity and containment policies. It then estimates how escalating export restrictions to shield domestic food markets could magnify the initial shock. The analysis shows that, in the quarter following the outbreak of the pandemic, the global export supply of food could decrease between 6 and 20 percent and global prices increase between 2 and 6 percent on average. Escalating export restrictions would multiply the initial shock by a factor of 3, with world food prices rising by up to 18 percent on average. Import food dependent countries, which are in large majority developing and least developed countries, would be most affected. 2020-05-21T19:45:07Z 2020-05-21T19:45:07Z 2020-05 Working Paper http://documents.worldbank.org/curated/en/417171589912076742/Covid-19-and-Food-Protectionism-The-Impact-of-the-Pandemic-and-Export-Restrictions-on-World-Food-Markets http://hdl.handle.net/10986/33800 English Policy Research Working Paper;No. 9253 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic CORONAVIRUS
COVID-19
PANDEMIC RESPONSE
FOOD PROTECTIONISM
TRADE POLICY
EXPORT RESTRICTIONS
FOOD PRICES
GLOBAL FOOD MARKETS
spellingShingle CORONAVIRUS
COVID-19
PANDEMIC RESPONSE
FOOD PROTECTIONISM
TRADE POLICY
EXPORT RESTRICTIONS
FOOD PRICES
GLOBAL FOOD MARKETS
Espitia, Alvaro
Rocha, Nadia
Ruta, Michele
COVID-19 and Food Protectionism : The Impact of the Pandemic and Export Restrictions on World Food Markets
relation Policy Research Working Paper;No. 9253
description This paper analyzes the impact of Covid-19 and uncooperative trade policies on world food markets. It quantifies the initial shock due to the pandemic under the assumption that products that are more labor intensive in production are more affected through workers' morbidity and containment policies. It then estimates how escalating export restrictions to shield domestic food markets could magnify the initial shock. The analysis shows that, in the quarter following the outbreak of the pandemic, the global export supply of food could decrease between 6 and 20 percent and global prices increase between 2 and 6 percent on average. Escalating export restrictions would multiply the initial shock by a factor of 3, with world food prices rising by up to 18 percent on average. Import food dependent countries, which are in large majority developing and least developed countries, would be most affected.
format Working Paper
author Espitia, Alvaro
Rocha, Nadia
Ruta, Michele
author_facet Espitia, Alvaro
Rocha, Nadia
Ruta, Michele
author_sort Espitia, Alvaro
title COVID-19 and Food Protectionism : The Impact of the Pandemic and Export Restrictions on World Food Markets
title_short COVID-19 and Food Protectionism : The Impact of the Pandemic and Export Restrictions on World Food Markets
title_full COVID-19 and Food Protectionism : The Impact of the Pandemic and Export Restrictions on World Food Markets
title_fullStr COVID-19 and Food Protectionism : The Impact of the Pandemic and Export Restrictions on World Food Markets
title_full_unstemmed COVID-19 and Food Protectionism : The Impact of the Pandemic and Export Restrictions on World Food Markets
title_sort covid-19 and food protectionism : the impact of the pandemic and export restrictions on world food markets
publisher World Bank, Washington, DC
publishDate 2020
url http://documents.worldbank.org/curated/en/417171589912076742/Covid-19-and-Food-Protectionism-The-Impact-of-the-Pandemic-and-Export-Restrictions-on-World-Food-Markets
http://hdl.handle.net/10986/33800
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