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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World Bank, Washington, DC
2020
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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 |
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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 |
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Digital Repository |
institution_category |
Foreign Institution |
institution |
Digital Repositories |
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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 |
_version_ |
1764479544311414784 |