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:	CORONAVIRUS COVID-19 PANDEMIC RESPONSE FOOD PROTECTIONISM TRADE POLICY EXPORT RESTRICTIONS FOOD PRICES GLOBAL FOOD MARKETS
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
_version_	1764479544311414784

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

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