Agricultural Distortion Patterns since the 1950s
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World Bank, Washington, DC
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This paper summarizes a new database
that sheds light on the impact of trade-related policy
developments over the past half century on distortions to
agricultural incentives and thus also to consumer prices for
food in 75 countries spanning the per capita income
spectrum. Price support policies of advanced economies hurt
not only domestic consumers and exporters of other products
but also foreign producers and traders of farm products, and
they reduce national and global economic welfare. On the
other hand, the governments of many developing countries
have directly taxed their farmers over the past
half-century, both directly (e.g., export taxes) and also
indirectly via overvaluing their currency and restricting
imports of manufactures. Thus the price incentives facing
farmers in many developing countries have been depressed by
both own-country and other countries' agricultural
price and international trade policies. The authors
summarize these and realted stylized facts that can be drawn
from a new World Bank database that is worthy of the
attention of political economy theorists, historians and
econometricians. These indicators can be helpful in
addressing such questions as the following: where is there
still a policy bias against agricultural production? To what
extent has there been overshooting in the sense that some
developing-country food producers are now being protected
from import competition along the lines of the examples of
earlier-industrializing Europe and Japan? What are the
political economy forces behind the more-successful
reformers, and how do they compare with those in
less-successful countries where major distortions in
agricultural incentives remain? And what explains the
pattern of distortions across not only countries but also
industries and in the choice of support or tax instruments
within the agricultural sector of each country?
Palabras clave
ABSOLUTE VALUE, ADVANCED ECONOMIES, AGRICULTURAL DEVELOPMENT, AGRICULTURAL ECONOMICS, AGRICULTURAL OUTPUT, AGRICULTURAL PRICE, AGRICULTURAL PRICES, AGRICULTURAL PRODUCTION, AGRICULTURAL PRODUCTS, AGRICULTURAL R&D, AGRICULTURAL RESEARCH, AGRICULTURE, BALANCE SHEETS, COMMODITIES, COMMODITY, COMMODITY PRICE, COMPARATIVE ADVANTAGE, COMPARATIVE ADVANTAGES, CONSTANT DOLLARS, CONSUMER PRICES, CONSUMERS, CORRELATION COEFFICIENTS, COUNTRY FIXED EFFECTS, CROPS, CURRENCY, DATA AVAILABILITY, DEREGULATION, DEVELOPING COUNTRIES, DEVELOPING COUNTRY, DEVELOPING ECONOMIES, DOLLAR VALUES, DOMESTIC ECONOMY, DOMESTIC MARKET, DOMESTIC MARKETS, DOMESTIC PRICE, DOMESTIC PRICES, DUMMY VARIABLE, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, ECONOMICS, ELASTICITY, EMERGING ECONOMIES, EQUILIBRIA, EQUILIBRIUM PRICE, EXCHANGE RATE, EXCHANGE RATES, EXPENDITURE, EXPORT SUBSIDIES, EXPORT SUBSIDY, EXPORTERS, EXPORTS, FARMERS, FARMS, FOOD PRICES, FOOD PRODUCTS, FOREIGN CURRENCY, FOREIGN EXCHANGE, FOREIGN EXCHANGE MARKET, FREE MARKETS, FREE TRADE, GDP, GDP PER CAPITA, GENERAL EQUILIBRIUM, GENERAL EQUILIBRIUM ANALYSIS, GLOBAL ECONOMY, GLOBAL EXPORTS, GLOBAL OUTPUT, GLOBALIZATION, GOVERNMENT INTERVENTION, GOVERNMENT INTERVENTIONS, GROSS VALUE, HIGH-INCOME COUNTRIES, IMPORT, IMPORT PRICE, IMPORT PROTECTION, IMPORT RESTRICTIONS, IMPORT TARIFF, IMPORT TARIFFS, IMPORT-SUBSTITUTING INDUSTRIALIZATION, IMPORT-SUBSTITUTING INDUSTRIALIZATION STRATEGY, IMPORTS, INCOME GROUP, INDUSTRIALIZATION, INTERNATIONAL ECONOMICS, INTERNATIONAL MARKETS, INTERNATIONAL PRICE, INTERNATIONAL PRICES, INTERNATIONAL TRADE, INTERNATIONAL TRADE POLICIES, INTERNATIONAL TRADE POLICY, ITC, LAISSEZ FAIRE, LEGAL CONSTRAINTS, LESS DEVELOPED ECONOMIES, LIVESTOCK, LIVESTOCK PRODUCTS, LOW-INCOME COUNTRIES, MACROECONOMIC POLICY, MARKET ACCESS, MARKET ECONOMIES, MARKET EQUILIBRIUM, MARKET FORCES, MULTILATERAL TRADE, MULTIPLE EXCHANGE RATES, NET EXPORTS, OPEN ECONOMY, PER CAPITA INCOME, PER CAPITA INCOMES, POLITICAL ECONOMY, POVERTY REDUCTION, PRICE COMPARISON, PRICE COMPARISONS, PRICE DISTORTION, PRICE DISTORTIONS, PRICE ELASTICITIES, PRICE INCENTIVES, PRICE SUPPORTS, PRICES OF INPUTS, PRICING POLICY, PRIVATIZATION, PRODUCER PRICES, PUBLIC FUNDS, PUBLIC INVESTMENT, PUBLIC INVESTMENTS, PURCHASE PRICE, QUOTAS, REAL GDP, REGIONAL INTEGRATION, RELATIVE PRICES, RURAL INFRASTRUCTURE, SOCIALIST ECONOMIES, STANDARD DEVIATION, STANDARD DEVIATIONS, SUBSIDIZATION, SUBSTITUTION, TARIFF BARRIERS, TAX, TAXATION, TRADABLE GOODS, TRADE AGREEMENTS, TRADE DATA, TRADE LIBERALIZATION, TRADE NEGOTIATIONS, TRADE POLICIES, TRADE POLICY, TRADE RESTRICTIONS, TRADE TAX, TRADE TAXES, TRANSITION ECONOMIES, URUGUAY ROUND, VALUATION, VALUE ADDED, VOLATILITY, VOLUME OF TRADE, WEIGHTS, WOOD, WORLD DEVELOPMENT INDICATORS, WORLD ECONOMY, WORLD TRADE, WORLD TRADE ORGANIZATION, WTO