Global distortions to agricultural markets: Indicators of trade and welfare impacts, 1960 to 2007

Peter J. Lloyd*, Johanna L. Croser, Kym Anderson

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

24 Citations (Scopus)

Abstract

Despite recent reforms, world agricultural markets remain highly distorted by government policies. Traditional indicators of those price distortions such as producer and consumer support estimates (PSEs and CSEs) can be poor guides to the policies' economic effects. Recent theoretical literature provides scalar index numbers of trade- and welfare-reducing effects of price and trade policies which this paper builds on to develop more-satisfactory indexes that can be generated using no more than the data used to generate PSEs and CSEs. We then exploit a new Agricultural Distortion database to provide time-series estimates of index numbers for 75 developing and high-income countries over the past half-century.

Original languageEnglish
Pages (from-to)141-160
Number of pages20
JournalReview of Development Economics
Volume14
Issue number2
DOIs
Publication statusPublished - May 2010
Externally publishedYes

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