How Do Agricultural Policy Restrictions on Global Trade and Welfare Differ Across Commodities?

For decades the world's agricultural markets have been highly distorted by government policies, but differently for different commodities such that a ranking of weighted average nominal rates of assistance across countries can be misleading as an indicator of the trade or welfare effects of pol...

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Bibliographic Details
Published in:American journal of agricultural economics 2010-04, Vol.92 (3), p.698-712
Main Authors: Croser, Johanna L., Lloyd, Peter J., Anderson, Kym
Format: Article
Language:English
Subjects:
Agricultural and food market
Agricultural commodities
Agricultural economics
Agricultural exports
agricultural policies
Agricultural policy
Agricultural production
Agricultural productivity
Agricultural trade
Commodities
Commodity market
Consumer prices
distorted commodity markets
Economic indicators
Economic indices
Economic theory
F13
F14
Farm commodities
Grain trade
Imports
Indexes
International market
International trade
Manycountries
Price distortions
Q17
Q18
Studies
Supply and demand
Tariffs
Trade policy
trade restrictiveness index
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Summary:For decades the world's agricultural markets have been highly distorted by government policies, but differently for different commodities such that a ranking of weighted average nominal rates of assistance across countries can be misleading as an indicator of the trade or welfare effects of policies affecting global markets. This article develops two theory-based indicators, drawing on the recent literature on trade restrictiveness indexes. It estimates those indicators for each of 28 key agricultural commodities from 1960 to 2004, based on a sample of 75 countries that together account for more than three-quarters of the world's production of those agricultural commodities.
ISSN:0002-9092
1467-8276
DOI:10.1093/ajae/aaq025