Grain price spikes and beggar-thy-neighbor policy responses: a global economywide analysis
Research output: Working paper › Research
Standard
Grain price spikes and beggar-thy-neighbor policy responses : a global economywide analysis. / Jensen, Hans Grinsted; Anderson, Kym.
Australian National University, 2014.Research output: Working paper › Research
Harvard
APA
Vancouver
Author
Bibtex
}
RIS
TY - UNPB
T1 - Grain price spikes and beggar-thy-neighbor policy responses
T2 - a global economywide analysis
AU - Jensen, Hans Grinsted
AU - Anderson, Kym
PY - 2014
Y1 - 2014
N2 - When prices spike in international grain markets, national governments often reduce the extent to which that spike affects their domestic food markets. Those actions exacerbate the price spike and international welfare transfer associated with that terms of trade change. Several recent analyses have assessed the extent to which those policies contributed to the 2006-08 international price rise, but only by focusing on one commodity or using a back-of-the envelope (BOTE) method. This paper provides a more-comprehensive analysis using a global economy-wide model that is able to take account of the interactions between markets for farm products that are closely related in production and/or consumption, and able to estimate the impacts of those insulating policies on grain prices and on the grain trade and economic welfare of the world’s various countries. Our results support the conclusion from earlier studies that there is a need for stronger WTO disciplines on export restrictions.
AB - When prices spike in international grain markets, national governments often reduce the extent to which that spike affects their domestic food markets. Those actions exacerbate the price spike and international welfare transfer associated with that terms of trade change. Several recent analyses have assessed the extent to which those policies contributed to the 2006-08 international price rise, but only by focusing on one commodity or using a back-of-the envelope (BOTE) method. This paper provides a more-comprehensive analysis using a global economy-wide model that is able to take account of the interactions between markets for farm products that are closely related in production and/or consumption, and able to estimate the impacts of those insulating policies on grain prices and on the grain trade and economic welfare of the world’s various countries. Our results support the conclusion from earlier studies that there is a need for stronger WTO disciplines on export restrictions.
M3 - Working paper
T3 - Working Papers in Trade and Development
BT - Grain price spikes and beggar-thy-neighbor policy responses
PB - Australian National University
ER -
ID: 122815832