Trade Insulation as Social Protection

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dc.creatorDo, Quy-Toan
dc.creatorLevchenko, Andrei A.
dc.creatorRavallion, Martin
dc.date2013-09-04T18:00:35Z
dc.date2013-09-04T18:00:35Z
dc.date2013-05
dc.date.accessioned2026-07-01T01:01:38Z
dc.descriptionIn a world with volatile food prices, countries have an incentive to shelter their populations from induced real income shocks. When some agents are net food producers while others are net consumers, there is scope for insurance between the two groups. A domestic social protection scheme would therefore transfer resources away from the former group to the latter in times of high food prices, and do the reverse otherwise. This paper shows that in the presence of consumer preference heterogeneity, implementing the optimal social protection policy can potentially induce higher food price volatility. Such policy indeed generates a counter-cyclical demand shock that amplifies the effects of the underlying food shortage. The results call for a reassessment of food stabilization policies. In particular, the authors urge caution against the systematic condemnation of trade insulation practices.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2013/05/17721206/trade-insulation-social-protection
dc.identifierhttps://hdl.handle.net/10986/15588
dc.identifier10.1596/1813-9450-6448
dc.identifier.urihttp://hdl.handle.net/123456789/414389
dc.languageEnglish
dc.languageen_US
dc.publisherWorld Bank, Washington, DC
dc.relationPolicy Research Working Paper;No. 6448
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectADVERSE SELECTION
dc.subjectAGGREGATE DEMAND
dc.subjectAGGREGATE SUPPLY
dc.subjectAGRICULTURAL ECONOMICS
dc.subjectAGRICULTURE
dc.subjectASSET MARKET
dc.subjectASSET MARKETS
dc.subjectBENCHMARK
dc.subjectBUDGET CONSTRAINTS
dc.subjectCLASSICAL ECONOMISTS
dc.subjectCOMMERCIAL POLICY
dc.subjectCOMMODITIES
dc.subjectCOMMODITY
dc.subjectCOMMODITY PRICE
dc.subjectCONSUMERS
dc.subjectDEMAND FOR FOOD
dc.subjectDEMAND FUNCTIONS
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPING COUNTRY
dc.subjectDEVELOPMENT POLICY
dc.subjectDOMESTIC MARKET
dc.subjectDOMESTIC MARKETS
dc.subjectDOMESTIC PRICES
dc.subjectECONOMIC HISTORY
dc.subjectEQUILIBRIUM
dc.subjectEQUILIBRIUM PRICE
dc.subjectEQUILIBRIUM PRICES
dc.subjectEQUILIBRIUM VALUES
dc.subjectEXPENDITURE
dc.subjectEXPORTS
dc.subjectEXTERNAL TRADE
dc.subjectEXTERNALITY
dc.subjectEXTREME POVERTY
dc.subjectFAIR
dc.subjectFAMINE
dc.subjectFAMINES
dc.subjectFEED
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL INTEGRATION
dc.subjectFOOD AVAILABILITY
dc.subjectFOOD CONSUMPTION
dc.subjectFOOD CRISIS
dc.subjectFOOD EXPORT
dc.subjectFOOD POLICY
dc.subjectFOOD POLICY RESEARCH
dc.subjectFOOD PRICE
dc.subjectFOOD PRICE STABILIZATION
dc.subjectFOOD PRICES
dc.subjectFOOD PRODUCERS
dc.subjectFOOD PRODUCTION
dc.subjectFOOD SECURITY
dc.subjectFOOD SHORTAGE
dc.subjectFOREIGN MARKET
dc.subjectFREE TRADE
dc.subjectGLOBAL FOOD SECURITY
dc.subjectGLOBALIZATION
dc.subjectGOVERNMENT INTERVENTION
dc.subjectGOVERNMENT INTERVENTIONS
dc.subjectGRAIN MARKETS
dc.subjectGRAIN RESERVES
dc.subjectGRAINS
dc.subjectHAZARD
dc.subjectHUNGER
dc.subjectIFPRI
dc.subjectINCOME
dc.subjectINCOMES
dc.subjectINSURANCE
dc.subjectINSURANCE MARKET
dc.subjectINSURANCE MARKETS
dc.subjectINSURANCE POLICIES
dc.subjectINSURANCE POLICY
dc.subjectINTERNATIONAL FOOD POLICY RESEARCH INSTITUTE
dc.subjectINTERNATIONAL MARKETS
dc.subjectINTERNATIONAL TRADE
dc.subjectLIBERALIZATION
dc.subjectMORAL HAZARD
dc.subjectOPTIMIZATION
dc.subjectOUTPUT
dc.subjectPRICE DISTORTION
dc.subjectPRICE DISTORTIONS
dc.subjectPRICE INCREASES
dc.subjectPRICE LEVELS
dc.subjectPRICE POLICY
dc.subjectPRICE STABILIZATION
dc.subjectPRICE SUBSIDY
dc.subjectPRICE TAKERS
dc.subjectPRICE VOLATILITY
dc.subjectREAL INCOME
dc.subjectREAL INCOME DECLINES
dc.subjectRICE
dc.subjectRISK SHARING
dc.subjectSECURITIES
dc.subjectSOCIAL PROTECTION
dc.subjectSPOT MARKET
dc.subjectSTABILIZATION POLICIES
dc.subjectSTARVATION
dc.subjectSUBSTITUTE
dc.subjectSUBSTITUTION
dc.subjectSUPPLY CURVE
dc.subjectSUPPLY SHOCK
dc.subjectSUPPLY SHOCKS
dc.subjectTRADE BALANCE
dc.subjectTRADE POLICIES
dc.subjectTRADE POLICY
dc.subjectTRANSACTION COSTS
dc.subjectVULNERABLE GROUPS
dc.subjectWAGES
dc.subjectWEALTH
dc.subjectWORLD ECONOMY
dc.subjectWORLD FOOD SUPPLY
dc.titleTrade Insulation as Social Protection

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