Trade-related Agricultural Policy Analysis (World Scientific Studies in International Economics)

Trade-Related Agricultural Policy Analysis brings together several aspects of agricultural policy analysis in an international context. A unique dimension of this book is a focus not on traditional border measures (tariffs, quotas and export subsidies or restrictions) but on behind-the-border measures that reflect the political economy of agriculture as a primary sector in context of its historical roots and relevant issues within each country. Macroeconomic policies interact with agricultural prices and trade, and thus with farm support programs. There is an intense political economy of agricultural policy in the United States, as set in recurring “farm bills.” This recurring legislation has direct effects on world markets and indirect effects by setting the conditions and tone for international negotiations. Policy interventions directed at agriculture do not occur in isolate, so their impacts have to be weighed against one another. Moreover, seeking an open global trading system for agricultural and food products has to be balanced with some public-good regulation to ensure health and safety as products cross borders. Each of these issues is explored in several chapters of this volume.