Abstract
Abstract This article demonstrates how governments have distorted food markets in high-income countries, primarily through ineffective trade policies. It begins by reviewing theories on agriculture’s perceived role in development. It then considers a recent World Bank study, which presents evidence of price-distorting policies in both high-income and developing countries. Next, it discusses the contribution of agriculture to the current global welfare cost of distortions to farm and nonfarm goods markets, and the impact of those distortionary policies on income inequality and poverty. The article concludes by assessing the policy implications of the study’s empirical findings.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
