OECD Food, Agriculture and Fisheries Papers
NB. No. 1 to No. 58 were released under the previous series title OECD Food, Agriculture and Fisheries Working Papers.
- ISSN: 18156797 (online)
- https://doi.org/10.1787/18156797
Policy Responses in Emerging Economies to International Agricultural Commodity Price Surges
This report examines and classifies policy responses in ten major emerging economies to the rise in international agricultural commodity prices in 2006-08. It also analyses impacts of these responses on the domestic market to evaluate their effectiveness in meeting stated policy objectives. The report separates government responses into four major types: market interventions to limit the rise in food prices, market interventions to control inflation, assistance to consumers through safety nets and support to producers. As an indication of the relative importance of these responses in a given country, the report estimates the fiscal costs of policies applied. Developments in trade flows, price transmission, inflation, consumption and production were used to investigate impacts on domestic markets and to draw policy conclusions. Market interventions to minimise the impact on consumers were not always successful, even if trade flows were disrupted, and had taxing effects on farmers who could not benefit from higher international prices. These taxing effects were often partly compensated by increased input-linked support to farmers, which had a relatively high fiscal cost in some instances.
Also available in: French
Keywords: emerging economies, food price spikes, policy responses to food price rise, policy conclusions
JEL:
O13: Economic Development, Innovation, Technological Change, and Growth / Economic Development / Economic Development: Agriculture; Natural Resources; Energy; Environment; Other Primary Products;
I38: Health, Education, and Welfare / Welfare, Well-Being, and Poverty / Welfare, Well-Being, and Poverty: Government Policy; Provision and Effects of Welfare Programs;
O57: Economic Development, Innovation, Technological Change, and Growth / Economywide Country Studies / Comparative Studies of Countries;
O10: Economic Development, Innovation, Technological Change, and Growth / Economic Development / Economic Development: General;
J33: Labor and Demographic Economics / Wages, Compensation, and Labor Costs / Compensation Packages; Payment Methods;
Q18: Agricultural and Natural Resource Economics; Environmental and Ecological Economics / Agriculture / Agricultural Policy; Food Policy;
Q17: Agricultural and Natural Resource Economics; Environmental and Ecological Economics / Agriculture / Agriculture in International Trade;
Q13: Agricultural and Natural Resource Economics; Environmental and Ecological Economics / Agriculture / Agricultural Markets and Marketing; Cooperatives; Agribusiness;
Q10: Agricultural and Natural Resource Economics; Environmental and Ecological Economics / Agriculture / Agriculture: General
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