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Commodity Market Reforms
Agricultural commodity markets in many developing countries are being reformed and are being based on market forces rather than regulated prices and official monopolies. This book discusses reforms in the markets for cocoa, coffee, cotton, grains, and sugar and looks at the reasons for success and failure.
African Agricultural Reforms
This volume analyzes the political economy of the successes and failures of the agricultural reform programs in Sub Saharan Africa. It shows that in almost all cases reforms lead to a supply response but their sustainability in face of shocks depend on the consensus about the reform and the subsequent rent distribution.
Total Strangers Or Soul Mates?
August 1998 As Latin American and Caribbean countries have liberalized their trade regimes, they have enthusiastically adopted antidumping measures that reduce competition. Competition laws are only beginning to make their appearance in the region. Antidumping and competition policies are strangers in the region when they should be soul mates. As a result of trade reforms in the 1980s and 1990s Latin American and Caribbean countries became more open than at any time since World War II. However, these countries have recently begun to use antidumping measures as the new protection weapon of choice, as other barriers to trade have been reduced. In fact, the fastest growing antidumping actions a...
Crisis Management in Argentina During the 1994-95 Mexican Crisis
The Mexican crisis of 1994-95 had strong spillover effects on Argentina. The Argentine government successfully announced a series of policies to mitigate the contagion effects. This paper studies how capital markets reacted to each policy announcement and news. Capital markets welcomed announcements that demonstrated a firm commitment to the currency board. The agreement with the IMF, the dollarization of reserve deposits in the central bank, and changes in reserve requirements had a strong positive impact on market returns. After a period of higher volatility, the appointment of a new finance minister significantly decreased the variance of stock and bond returns, while lower reserve requirements increased the volatility of interest rates.
Evaluating a Targeted Social Program when Placement is Decentralized
July 1998 A social program that relies partly on geographic decentralization for placement provides indicators helpful for identifying the program's impact on welfare. An assessment of the welfare gains from a targeted social program can be seriously biased unless it takes proper account of the endogeneity of program participation. Bias comes from two sources of placement endogeneity: the purposive targeting of the geographic areas to receive the program, and the targeting of individual recipients within selected areas. Decentralization of program placement decisions is common, because of the administrative cost of centralized placement decisions and the fact that local groups and government...
Trade Policies and Incentives in Indian Agriculture
This paper describes the methodology for a series of background papers that measure incentives in India's agriculture. The first study on sugarcane and sugar shows that the domestic market has been isolated from world markets by extensive controls, but between 1965 and 1995 there was a significant downward trend in the ratio of domestic to international sugar prices. This paper is the first in a series of studies to provide background data and protection and incentive indicators for 13 major Indian crops, which have been estimated in connection with extensive research on Indian agricultural incentives. The general methodology of the studies is described in the first section of the paper. The...
The Challenge of Food Security
'The Challenge of Food Security addresses one of the key development challenges of our time. It examines issues related to food security in a comprehensive manner that covers both theoretical perspectives and policy challenges. It will be a key reference book for anyone interested in issues related to food security.' Philippe Cullet, University of London, UK 'This is a timely book which addresses one of the greatest challenges for international regulation: food security. The book is a comprehensive treatment of various aspects of food security from its origins to the relationship between food security and other values, the role that commodity trading plays in exacerbating food insecurity, th...
