Reducing Distortions in International Commodity Markets

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dc.creatorHoekman, Bernard
dc.creatorMartin, Will
dc.date2012-08-13T10:14:35Z
dc.date2012-08-13T10:14:35Z
dc.date2012-05
dc.date.accessioned2026-07-01T00:56:28Z
dc.descriptionWorld commodity markets and particularly the markets for agricultural commodities remain highly distorted despite the wave of liberalization that has swept world trade since the 1980s. Commodity markets are distorted on both the export and the import sides, with serious implications for world prices and their volatility. Very few of the price distortions found in commodity markets can be justified on the grounds of dealing with market failures. Rather, most policies that affect commodity prices are designed to transfer resources to favored groups by raising or lowering prices. Policies may target the level and/or the volatility of prices, and the pursuit of one type of policy objective may have unintended consequences in generating further distortions. Moreover, some commodity markets are characterized by imperfect competition. Where monopolies or oligopolies in trade arise, either because of government regulation or through other barriers to entry, distortions may arise that call for application of antitrust laws and other forms of pro-competitive policy action.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2012/05/16282014/reducing-distortions-international-commodity-markets
dc.identifierhttps://hdl.handle.net/10986/10041
dc.identifierhttps://doi.org/10.1596/10041
dc.identifier.urihttp://hdl.handle.net/123456789/413269
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relationEconomic Premise; No. 82
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectACCESS TO MARKETS
dc.subjectAGRICULTURE
dc.subjectANTITRUST
dc.subjectANTITRUST LAWS
dc.subjectBARRIERS TO ENTRY
dc.subjectCARTEL
dc.subjectCOMMODITIES
dc.subjectCOMMODITY
dc.subjectCOMMODITY PRICE
dc.subjectCOMMODITY PRICES
dc.subjectCOMPETITION POLICY
dc.subjectCOMPETITIVE MARKET
dc.subjectCONSUMERS
dc.subjectDEVELOPING COUNTRIES
dc.subjectDOMESTIC PRICE
dc.subjectDOMESTIC PRICES
dc.subjectECONOMIC EFFECTS
dc.subjectECONOMIC GROWTH
dc.subjectECONOMICS
dc.subjectEMERGING MARKETS
dc.subjectEXCISE TAXES
dc.subjectEXPENDITURES
dc.subjectEXPORT BARRIERS
dc.subjectEXPORT MARKETS
dc.subjectEXPORTS
dc.subjectFOOD PRICES
dc.subjectFOREIGN ASSETS
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFOREIGN MARKETS
dc.subjectGLOBALIZATION
dc.subjectGOVERNMENT REGULATION
dc.subjectHOME MARKET
dc.subjectIMPERFECT COMPETITION
dc.subjectIMPORT BARRIERS
dc.subjectINCOME
dc.subjectINCOMES
dc.subjectINDUSTRIAL COUNTRIES
dc.subjectINTERNATIONAL BUSINESS
dc.subjectINTERNATIONAL COMPETITION
dc.subjectINTERNATIONAL COOPERATION
dc.subjectINTERNATIONAL TRADE
dc.subjectJURISDICTION
dc.subjectJURISDICTIONS
dc.subjectLAW ENFORCEMENT
dc.subjectLIBERALIZATION
dc.subjectLOW-INCOME COUNTRIES
dc.subjectMARKET BEHAVIOR
dc.subjectMARKET COMPETITION
dc.subjectMARKET CONCENTRATION
dc.subjectMARKET DISTORTIONS
dc.subjectMARKET FAILURES
dc.subjectMARKET POWER
dc.subjectMARKET STRUCTURE
dc.subjectMARKET STRUCTURES
dc.subjectMONOPOLIES
dc.subjectMONOPOLY
dc.subjectMONOPSONY
dc.subjectMONOPSONY POWER
dc.subjectMOTIVATION
dc.subjectMULTILATERAL TRADE
dc.subjectNATURAL RESOURCE
dc.subjectNATURAL RESOURCES
dc.subjectNEGATIVE EXTERNALITIES
dc.subjectOLIGOPOLY
dc.subjectOUTPUT
dc.subjectPOLITICAL ECONOMY
dc.subjectPRICE DISTORTIONS
dc.subjectPRICE LEVELS
dc.subjectPRICE VOLATILITY
dc.subjectPROTECTIONISM
dc.subjectRELEVANT MARKETS
dc.subjectRENTS
dc.subjectRETAIL
dc.subjectRETAIL PRICES
dc.subjectSOFT BUDGET CONSTRAINTS
dc.subjectSUBSTITUTES
dc.subjectSUPPLIERS
dc.subjectTAX
dc.subjectTAXATION
dc.subjectTRADE POLICIES
dc.subjectTRADE POLICY
dc.subjectTRADING SYSTEM
dc.subjectTRANSPARENCY
dc.subjectURUGUAY ROUND
dc.subjectVOLATILITY
dc.subjectWEALTH
dc.subjectWORLD ECONOMY
dc.subjectWORLD TRADE
dc.subjectWORLD TRADE ORGANIZATION
dc.subjectWTO
dc.titleReducing Distortions in International Commodity Markets

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