SOME THEORETICAL ASPECTS OF AGRICULTURAL POLICIES

1 January 1987

journal article
Published by Oxford University Press (OUP) in The World Bank Research Observer

Vol. 2 (1) , 43-60
https://doi.org/10.1093/wbro/2.1.43

Abstract

In virtually every country, governments intervene in agricultural markets in a variety of ways—with subsidies and taxes, with credit, with price stabilization programs, and with expenditure programs. This article provides a systematic framework within which these various programs can be assessed. The analysis of any policy must begin with a description of its effects. An evaluation of the appropriateness of any policy must begin by specifying the reasons for market failure and the instruments at the disposal of the government. The article focuses on the consequences of imperfect risk and credit markets and considers the incentive and distributive effects of alternative government programs.

Keywords

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