Krueger/Schiff/Valdes Revisited : Agricultural Price and Trade Policy Reform in Developing Countries since 1960
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World Bank, Washington, DC
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A study of distortions to agricultural
incentives in 18 developing countries during 1960-84, by
Krueger, Schiff and Valdes (1988; 1991), found that policies
in most of those developing countries were directly or
indirectly harming their farmers. Since the mid-1980s there
has been a substantial amount of policy reform and opening
up of many developing countries, and indicators of that
progress have been made available recently by a new study
that has compiled estimates for a much larger sample of
developing countries and for as many years as possible since
1955. The new study also covers Europe s transition
economies and comparable estimates for high-income
countries, thereby covering more than 90 percent of world
agricultural output and employment. This paper summarizes
the methodology used in the new study (pointing out
similarities and differences with those used by the OECD and
by Krueger, Schiff and Valdes), compares a synopsis of the
indicators from Krueger, Schiff and Valdes and the new study
for the period to 1984, summarizes the changing extent of
price distortions across countries and commodities globally
since then, and concludes by evaluating the degree of
distortion reduction over the years since 1984 compared with
how much still remains, according to the results of a global
economy wide model.
Palabras clave
ABSOLUTE VALUES, ADVANCED ECONOMIES, ADVERSE IMPACT, AGRICULTURAL ECONOMICS, AGRICULTURAL OUTPUT, AGRICULTURAL PRICE, AGRICULTURAL PRICES, AGRICULTURE, ALLOCATION, BALANCE SHEETS, BENCHMARK, BORDER PRICE, CHANGES IN PRICES, CLIMATE, CLIMATE CHANGE, COMMODITIES, COMMODITY, COMMODITY PRICE, COMMODITY PRICES, COMPARATIVE ADVANTAGES, COMPETITIVENESS, CONSTANT DOLLARS, CONSUMER PRICES, CONSUMERS, COUNTRY FIXED EFFECTS, CURRENCY, DATA AVAILABILITY, DEREGULATION, DEVELOPING COUNTRIES, DEVELOPING COUNTRY, DEVELOPING ECONOMIES, DOLLAR VALUES, DOMESTIC COMPETITION, DOMESTIC ECONOMY, DOMESTIC MARKET, DOMESTIC MARKETS, DOMESTIC PRICE, DOMESTIC PRICES, ECONOMETRICS, ECONOMIC COOPERATION, ECONOMIC COSTS, ECONOMIC DEVELOPMENT, ECONOMIC EFFECTS, ECONOMIC GROWTH, ECONOMIC WELFARE, ECONOMY WIDE MODELING, EMERGING ECONOMIES, EQUILIBRIUM, EQUILIBRIUM PRICE, EXCHANGE RATE, EXCHANGE RATE MOVEMENTS, EXCHANGE RATE POLICIES, EXCHANGE RATES, EXPORT BARRIERS, EXPORT SUBSIDIES, EXPORTERS, EXTERNALITIES, FINANCIAL ASSISTANCE, FIXED EXCHANGE RATE, FOOD PRICE, FOOD PRICES, FOREIGN CURRENCY, FOREIGN DEBT, FOREIGN EXCHANGE, FOREIGN EXCHANGE MARKET, FREE TRADE, GDP, GDP PER CAPITA, GENERAL EQUILIBRIUM, GENERAL EQUILIBRIUM ANALYSIS, GLOBAL DEMAND, GLOBAL ECONOMY, GLOBAL EXPORTS, GLOBAL MARKETS, GLOBAL OUTPUT, GLOBALIZATION, GOVERNMENT INTERVENTION, GROSS VALUE, GROWTH IN DEMAND, GROWTH RATE, HIGH-INCOME COUNTRIES, HIGH-INCOME COUNTRY, IMPORT, IMPORT BARRIERS, IMPORT PROTECTION, IMPORT RESTRICTIONS, IMPORT TARIFFS, IMPORT-SUBSTITUTING INDUSTRIALIZATION, IMPORT-SUBSTITUTING INDUSTRIALIZATION STRATEGY, IMPORTS, INCOME, INCOME GROUP, INCOME GROUPS, INCOMES, INDUSTRIALIZATION, INTERNATIONAL COMPETITIVENESS, INTERNATIONAL ECONOMICS, INTERNATIONAL MARKETS, INTERNATIONAL PRICE, INTERNATIONAL PRICES, INTERNATIONAL TRADE, INTERNATIONAL TRADE POLICIES, INTERNATIONAL TRADE POLICY, LESS DEVELOPED ECONOMIES, LIBERALIZATION, LOW-INCOME COUNTRIES, MACROECONOMIC POLICY, MARGINAL COSTS, MARKET DISTORTIONS, MARKET ECONOMIES, MARKET EQUILIBRIUM, MARKET EQUILIBRIUM PRICE, MARKET LIBERALIZATION, MERCHANDISE, MERCHANDISE TRADE, MISALIGNMENT, MONOPOLIES, MULTILATERAL TRADE, MULTIPLE EXCHANGE RATES, NATIONAL INCOME, OPEN ECONOMY, OUTPUT, OVERVALUATION, OVERVALUED EXCHANGE RATES, PER CAPITA INCOME, PER CAPITA INCOMES, POLICY IMPLICATIONS, POLITICAL ECONOMY, POVERTY REDUCTION, PRICE COMPARISON, PRICE COMPARISONS, PRICE DISTORTION, PRICE DISTORTIONS, PRICE ELASTICITIES, PRICE HIKE, PRICE INCENTIVES, PRICE INDEX, PRICE SUBSIDIES, PRICE TRENDS, PRICING POLICY, PRIVATIZATION, PRODUCER PRICE, PROTECTIONISM, PURCHASE PRICE, REAL EXCHANGE RATE, REAL EXCHANGE RATES, REAL GDP, RELATIVE PRICE, RELATIVE PRICES, RETAIL, SINGLE MARKET, SLOWDOWN, SOCIALIST ECONOMIES, STANDARD DEVIATION, SUBSIDIZATION, SUBSTITUTION, TAX, TAXATION, TRADABLE GOODS, TRADE DATA, TRADE LIBERALIZATION, TRADE NEGOTIATIONS, TRADE POLICIES, TRADE POLICY, TRADE PROTECTION, TRADE RESTRICTIONS, TRADE TAX, TRADE TAXES, TRADING SYSTEM, TRANSITION ECONOMIES, UNDERESTIMATES, UNDERVALUATION, URUGUAY ROUND, VALUE ADDED, VOLATILITY, VOLUME OF TRADE, WEIGHTS, WORLD DEVELOPMENT INDICATORS, WORLD MARKETS, WORLD TRADE, WORLD TRADE ORGANIZATION, WTO