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Despite numerous policy reforms since the 1980s, farm product prices remain heavily distorted in both high-income and developing countries. This book seeks to improve our understanding of why societies adopted these policies, and why some but not other countries have undertaken reforms. Drawing on recent developments in political economy theories and in the generation of empirical measures of the extent of price distortions, the present volume provides both analytical narratives of the historical origins of agricultural protectionism in various parts of the world and a set of political econometric analyses aimed at explaining the patterns of distortions that have emerged over the past five decades. These new studies shed much light on the forces affecting incentives and those facing farmers in the course of national and global economic and political development. They also show how those distortions might change in the future

"Despite numerous policy reforms since the 1980s, farm product prices remain heavily distorted in both high-income and developing countries. This book seeks to improve our understanding of why societies adopted these policies, and why some but not other countries have undertaken reforms. Drawing on recent developments in political economy theories and in the generation of empirical measures of the extent of price distortions, the present volume provides both analytical narratives of the historical origins of agricultural protectionism in various parts of the world and a set of political econometric analyses aimed at explaining the patterns of distortions that have emerged over the past five decades. These new studies shed much light on the forces affecting incentives and those facing farmers in the course of national and global economic and political development. They also show how those distortions might change in the future - or be changed by concerted actions to offset pressures from vested interests"--

"Despite numerous policy reforms since the 1980s, farm product prices remain heavily distorted in both high-income and developing countries. This book seeks to improve our understanding of why societies adopted these policies, and why some but not other countries have undertaken reforms. Drawing on recent developments in political economy theories and in the generation of empirical measures of the extent of price distortions, the present volume provides both analytical narratives of the historical origins of agricultural protectionism in various parts of the world and a set of political econometric analyses aimed at explaining the patterns of distortions that have emerged over the past five decades. These new studies shed much light on the forces affecting incentives and those facing farmers in the course of national and global economic and political development. They also show how those distortions might change in the future - or be changed by concerted actions to offset pressures from vested interests"--

The fifth and last volume in the 'Distortions to Agricultural Incentives' series focus on distortions to agricultural incentives from a global perspective.During the 1960s and 1970s most developing countries imposed anti-agricultural policies, while many high-income countries restricted agricultural imports and subsidized their farmers. Both sets of policies inhibited economic growth and poverty alleviation in developing countries. Since the 1980s, however, many developing countries began to reverse that policy trend. This book brings together the first-ever comprehensive and consistent set of estimates of the changing extent of those distortions over the past half-century. Those estimates show when each country's reforms began, how rapidly and completely they have progressed, how much of the improved incentives for farmers is due to reform of agricultural as compared with non-agricultural policies, which have 'overshot' to become agricultural protectionists like many high-income countries, and to what extent an anti-trade bias remains. Also provided are analytical narratives of the evolution of farm versus non-farm policies in each of dozens of countries, covering in aggregate around 90 percent of agricultural output and 95 percent of the world economy. Such a comprehensive coverage exposes also the different degrees to which the key agricultural product markets have been and still are distorted. The book concludes with new estimates of the effects of reforms since the early 1980s and of current policies - agricultural vs industrial - on such things as global goods markets, national economic welfare, and net farm incomes in all the major developing and high-income countries.

The implications of national and global economic growth, of regional and multilateral trade liberalization initiatives, and of Indonesia's ongoing unilateral policy reforms were the initial focus of the study. However, with the onslaught of the financial crisis that began in the latter part of 1997, the project leaders added that issue to the research agenda

This two-volume collection brings together the first 53 Joseph Fisher Lectures in economics and commerce, presented at the Adelaide University every other year since 1904. The Lectures address a wide range of Australian economic issues, in addition to some international economic issues of national significance

This two-volume collection brings together the first 53 Joseph Fisher Lectures in economics and commerce, presented at the Adelaide University every other year since 1904. Funds for the Lectures, together with a medal for the top accounting student each year, were kindly provided by a £1,000 endowment to the University by the prominent Adelaide businessman Joseph Fisher in 1903. The Lectures address a wide range of Australian economic issues, in addition to some international economic issues of national significance. They have stood the test of time extremely well, while also providing a reminder of the events and concerns that were prominent at different times during the past century.

This two-volume collection brings together the first 53 Joseph Fisher Lectures in economics and commerce, presented at the Adelaide University every other year since 1904. Funds for the Lectures, together with a medal for the top accounting student each year, were kindly provided by a £1,000 endowment to the University by the prominent Adelaide businessman Joseph Fisher in 1903. The Lectures address a wide range of Australian economic issues, in addition to some international economic issues of national significance. They have stood the test of time extremely well, while also providing a reminder of the events and concerns that were prominent at different times during the past century.

AbstractA study of distortions to agricultural incentives in 18 developing countries from 1960–84, by Krueger, Schiff, and Valdés (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. 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% of world agricultural output and employment. This article summarizes the methodology used in the new study, compares a synopsis of the indicators from Krueger, Schiff, and Valdés 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.