Importing High Food Prices by Exporting : Rice Prices in Lao PDR
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World Bank Group, Washington, DC
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This paper shows how a developing
country, Lao PDR, imports high glutinous rice prices by
exporting its staple food to neighboring countries, Vietnam
and Thailand. Lao PDR has extensive export controls on rice,
generating a sizable difference between domestic and
international prices. Controls are relaxed after good
harvests, leading to a surge in exports early in the season
and rapidly rising prices later in the year. There is thus a
strong case for removal of trade restrictions since they
give rise to price spikes, keep the long-term price of
glutinous rice low, and thereby hinder increases in income
from agriculture. Although this is a case study of Lao PDR,
the findings may equally apply to other developing countries
that export their staple food.
Palabras clave
AGRICULTURAL ECONOMICS, AGRICULTURAL PRICE, AGRICULTURE, ARBITRAGE, AVERAGE PRICE, BARRIER, BUYERS, COMMERCE, COMMODITY, COMMODITY PRICE, CONSUMER PRICE, CONSUMER PRICES, COST OF LIVING, CUSTOMS, DATA ANALYSIS, DEVELOPING COUNTRIES, DEVELOPING COUNTRY, DISTRIBUTION SYSTEM, DOMESTIC MARKETS, DOMESTIC PRICE, DOMESTIC PRICES, ECONOMIC DEVELOPMENT, EMERGING MARKET, EXCHANGE RATES, EXPENDITURES, FINANCIAL CRISIS, FOOD GRAINS, FOOD INSECURITY, FOOD POLICY, FOOD PRICE, FOOD PRICES, FOOD RESEARCH, FOOD RIOTS, FOOD SECURITY, FOOD STAPLES, FOOD SUPPLY, FOOD TRANSFERS, FREE TRADE, GENERAL POPULATION, GLOBAL FOOD SECURITY, GLOBALIZATION, GOVERNMENT INTERVENTIONS, GOVERNMENT POLICY, GROWTH RATES, IFPRI, INCOME, INCOMES, INFLATION, INFLATION RATE, INNOVATION, INSPECTION, INTERNATIONAL TRADE, LIBERALIZATION, LOW-INCOME COUNTRIES, MAIZE, MARKET DEVELOPMENT, MARKET FAILURES, MARKET INTEGRATION, MARKET PRICE, MARKET PRICES, MARKET REFORM, MARKET REGULATION, MARKETING, MILLS, MISSING VALUES, OPEN ACCESS, PADDY, POLITICAL ECONOMY, POLITICAL UNREST, POVERTY ALLEVIATION, PRICE ADVANTAGE, PRICE BEHAVIOR, PRICE CHANGES, PRICE DYNAMICS, PRICE INCREASE, PRICE INCREASES, PRICE INSTABILITY, PRICE LEVEL, PRICE PROTECTION, PRICE RISKS, PRICE SERIES, PRICE STABILIZATION, PRICE VOLATILITY, PRIVATE MARKET, PRIVATE SECTOR, PRIVATE SECTORS, PROTEIN, PURCHASING, REFORM PROGRAM, RESULT, RESULTS, SAFETY NETS, SOCIAL PROTECTION, SOCIAL SAFETY NETS, SPREAD, STOCKS, SUPPLY CHAIN, SUPPLY INCREASES, SURPLUS, SURPLUSES, TIME PERIOD, TRANSACTION, TRANSACTION COSTS, TRANSACTIONS COSTS, VALUE CHAIN, VALUE CHAINS, VOLATILITY, WEB, WFP, WHEAT, WINE, WORLD FOOD PROGRAM, WORLD MARKET