Agricultural Incentives in Developing Countries: Measuring the Effect of Sectoral and Economywide Policies |
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| Authors: | Krueger, Anne O. Schiff, Maurice Valdes, Alberto |
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| Affiliation: | The authors are codirectors of the World Bank comparative study of the political economy of agricultural pricing policies. Anne O. Krueger is Arts and Sciences Professor of Economics at Duke University and was formerly Vice President of the Economics and Research Staff at the World Bank. Maurice Schiff is an economist at the World Bank. Alberto Valdés is an economist at the International Food Policy Research Institute. The authors wish to thank Emmanuel Skoufias for his assistance. |
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| Abstract: | The impact of sector-specific (direct) and economywide (indirect)policies on agricultural incentives for eighteen developingcountries for the period 197584 are estimated. The directeffect is measured by the proportional difference between theproducer price and the border price (adjusting for distribution,storage, transport, and other marketing costs). The indirecteffect has two components. The first is the impact of the unsustainableportion of the current account deficit and of industrial protectionpolicies on the real exchange rate and thus on the price ofagricultural commodities relative to nonagricultural nontradables.The second is the impact of industrial protection policies onthe relative price of agricultural commodities to that of nonagriculturaltradable goods. We find that (1) in almost all cases the directeffect is equivalent to a tax on exportable goods (11percent on average) and to a subsidy for importables (20 percenton average); (2) the indirect effect also taxes agriculture(27 percent on average) and dominates the direct effect(whether the direct effect is positive or negative); and (3)the direct policies for both importables and exportables stabilizedomestic producer prices. |
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