Measuring the Impact of Distortions in Agricultural Trade in Partial and General Equilibrium
- Topics:
- Tariffs
- Tags:
- Finance,
- Food & Beverage,
- Free Trade,
- IMF,
- Manufacturing,
- Subsidy,
- Support,
- Tariff
- Source:
- International Monetary Fund
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Overview: This paper provides quantitative estimates of the impact of removing agricultural support (both tariffs and subsidies) in partial- and general-equilibrium frameworks. The results show that agricultural support in industrial countries is highly distortionary and tariffs have a larger distortionary impact than subsidies. Removal of agricultural support would likely raise the international prices of food, resulting in an increase in the cost of food for many net-food- importing countries, although the increase is generally small. The results also show that most of the benefits from removing agricultural support accrue to the countries that liberalize.
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Format: PDF | Size: 1,341KB | Date: May 2003 | Pages: 46
