How Do Governments Respond to Food Price Spikes? Lessons from the Past

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dc.creatorNelgen, Signe
dc.creatorAnderson, Kym
dc.date2012-03-19T18:41:35Z
dc.date2012-03-19T18:41:35Z
dc.date2010-08-01
dc.date.accessioned2026-07-01T01:01:46Z
dc.descriptionFood prices in international markets spiked upward in 2008, doubling or more in a matter of months. Evidence is still being compiled on policy responses over the following two years, but lessons can be learned from the price spike in 1973, the magnitude and speed of which were similar to those experienced around the 2008 spike. In developing countries, policy responses to the earlier spike lowered the (negative) nominal assistance coefficient for agriculture by one-third between 1972 and 1974 before it was returned to the same level by 1976. That was twice the extent of the fall and recovery of the (positive) nominal assistance coefficient for high-income countries. However, the trade and welfare effects of those changes were much less for developing than high-income countries, suggesting the dispersion of distortion rates among farm industries decreased in developing countries. The adjustments were virtually all due to suspension and then reinstatement of import restrictions, with changes in export taxation by developing countries playing an additional (but minor) role during 1972-74. This beggar-thy-neighbor dimension of each government s food policies is worrying because it reduces the role that trade between nations can play in bringing stability to the world s food markets. More effort appears to be needed before a multilateral agreement to desist can be reached.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100825101222
dc.identifierhttps://hdl.handle.net/10986/3887
dc.identifier10.1596/1813-9450-5403
dc.identifier.urihttp://hdl.handle.net/123456789/414417
dc.languageEnglish
dc.relationPolicy Research working paper ; no. WPS 5403
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectAGRICULTURAL ECONOMICS
dc.subjectAGRICULTURAL POLICIES
dc.subjectAGRICULTURAL POLICY
dc.subjectAGRICULTURAL PRICE
dc.subjectAGRICULTURE
dc.subjectBEEF
dc.subjectCHANGES IN PRICES
dc.subjectCLIMATE
dc.subjectCLIMATE CHANGE
dc.subjectCOCOA
dc.subjectCOMMODITIES
dc.subjectCOMMODITY
dc.subjectCOMMODITY MARKETS
dc.subjectCOMMODITY PRICE
dc.subjectCOMMODITY PRICES
dc.subjectCOMPARATIVE ADVANTAGE
dc.subjectCONSUMER PRICES
dc.subjectCONSUMER SPENDING
dc.subjectCONSUMERS
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPING COUNTRY
dc.subjectDEVELOPMENT ECONOMICS
dc.subjectDOMESTIC MARKET
dc.subjectDOMESTIC MARKETS
dc.subjectDOMESTIC PRICE
dc.subjectDOMESTIC PRICES
dc.subjectDOMESTIC PRODUCTION
dc.subjectECONOMIC WELFARE
dc.subjectELASTICITY
dc.subjectEXOGENOUS SHOCKS
dc.subjectEXPORTS
dc.subjectEXTREME WEATHER
dc.subjectEXTREME WEATHER EVENTS
dc.subjectFOOD MARKETS
dc.subjectFOOD POLICIES
dc.subjectFOOD PRICE
dc.subjectFOOD PRICES
dc.subjectFOOD RIOTS
dc.subjectFREE MARKETS
dc.subjectFREE TRADE
dc.subjectGDP
dc.subjectGENERAL EQUILIBRIUM MODEL
dc.subjectGOVERNMENT ACTIONS
dc.subjectGOVERNMENT INTERVENTION
dc.subjectGRAINS
dc.subjectGROUNDNUT
dc.subjectGROUNDNUT OIL
dc.subjectGROUNDNUTS
dc.subjectIMPORTS
dc.subjectINCOME
dc.subjectINCOMES
dc.subjectINEFFICIENCY
dc.subjectINSURANCE
dc.subjectINTERNATIONAL COMMERCE
dc.subjectINTERNATIONAL MARKETS
dc.subjectINTERNATIONAL TRADE
dc.subjectLIVESTOCK PRODUCTS
dc.subjectLOW-INCOME COUNTRIES
dc.subjectMAIZE
dc.subjectMARKET DISTORTIONS
dc.subjectMARKET FAILURE
dc.subjectMARKET PARTICIPANTS
dc.subjectMARKET STABILIZATION
dc.subjectMONOPOLY
dc.subjectOUTPUT
dc.subjectPER CAPITA INCOME
dc.subjectPOLICY MAKERS
dc.subjectPOLITICAL ECONOMY
dc.subjectPRICE CHANGES
dc.subjectPRICE DISTORTION
dc.subjectPRICE DISTORTIONS
dc.subjectPRICE MOVEMENT
dc.subjectPRICE STABILIZATION
dc.subjectPRODUCER PRICE
dc.subjectPRODUCER PRICES
dc.subjectRISING PRICE
dc.subjectSOYBEAN
dc.subjectSTABILIZATION POLICIES
dc.subjectSUGAR
dc.subjectTAX
dc.subjectTAX RATE
dc.subjectTAXATION
dc.subjectTOTAL CONSUMPTION
dc.subjectTRADE NEGOTIATIONS
dc.subjectTRADE POLICIES
dc.subjectTRADE POLICY
dc.subjectTRADE REFORMS
dc.subjectTRADE TAX
dc.subjectTRANSPARENCY
dc.subjectURUGUAY ROUND
dc.subjectVOLATILITY
dc.subjectWHEAT
dc.subjectWORLD MARKETS
dc.subjectWORLD TRADE
dc.subjectWORLD TRADE ORGANIZATION
dc.subjectWTO
dc.titleHow Do Governments Respond to Food Price Spikes? Lessons from the Past

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