New Futures Markets in Agricultural Production Rights: Possibilities and Constraints for the British and Dutch Milk Quota Markets

Farms are increasingly being affected by policies that involve production rights. Because of fluctuations in the prices of these rights in the spot market, farmers face a price risk. Establishing a futures market might enable them to hedge against this price risk. Rights futures have some features that differ from those of traditional commodity futures. This makes them an effective and efficient tool for managing price risk. The implications of these findings will be illustrated for milk quotas in the United Kingdom and The Netherlands. Prior conditions which might make a futures market for milk quotas successful in both countries will be deduced.     

Contractual Relations in Agricultural Credit Markets: A Hedonic Pricing Approach with Application to Poland

We present a micro‐econometric analysis of agricultural credit market outcomes in Poland that investigates the relationship between contractual arrangements and interest rates. An innovative theoretical framework based on a hedonic market model is developed. We interpret the factors that influence interest rates as ‘quality’ components of the credit contract. Using unique data allows us to consider both nominal interest rates and additional bank fees. The results show that banks have preferences for particularly liquid types of collateral, whereas they care little about the purpose for which the loan is used. Furthermore, the analysis allows quantification of the effects of socioeconomic attributes of farmers, different lending sources and government subsidies on interest rates. The latter effect is small compared with the officially declared reduction of the nominal interest rate. A simulation shows that enabling more borrowers to use liquid forms of collateral implies lower rates than those obtained by participating in the subsidy programme.     

Changing Agricultural Markets: Industrialization and Vertical Coordination in the Dry Edible Bean Industry

The agricultural sector is undergoing a transformation that is altering marketing relationships to better serve customer needs. These changes are drawing consumers, processors, and farmers into closer marketing relationships, improving the flow of information up the supply chain, and enabling firms to better meet customer demand. This paper uses case studies to analyze this process as it is occurring in the dry edible bean industry. A major finding is that contracts are not necessarily used in these new marketing relationships. Other factors—such as quality monitoring, certification procedures, and reputation—were also found to be highly important.     

China's Accession to the World Trade Organization: What Is at Stake for Agricultural Markets?

We analyze the impact of China's accession to the World Trade Organization on major crop and livestock markets using the Food and Agricultural Policy Research Institute (FAPRI) modeling framework. We incorporate expected changes in consumer income, textile production, and trade policies as exogenous shocks to the baseline model. Following accession, revenues decline in China's livestock, grain, and oilseed industries, while cotton production prospers despite increased imports. Chinese consumers benefit from lower food prices, with vegetable oil, dairy, and meat consumption increasing significantly. Argentina, Brazil, Canada, the European Union, and the United States are the greatest beneficiaries from expanded agricultural trade with China.     

Information Sharing and Oligopoly in Agricultural Markets: The Role of the Cooperative Bargaining Association

We study incentives for information sharing among agricultural intermediaries in imperfectly competitive markets for farm output. Information sharing always increases expected grower and total surplus, but may reduce expected intermediary profits. Even when expected profits increase with information sharing, intermediary firms face a prisoner's dilemma where it is privately rational to withhold information, given that other firms report truthfully. This equilibrium can be avoided if firms' information reports are verifiable, and if firms commit to an ex ante contract that enforces participation in information sharing. We show how agricultural bargaining legislation can implement such a contract with the bargained farm price representing a sufficient statistic of all information held by intermediary firms.     

渠道关系视角下中国农产品流通模式优化研究

长期以来,导致农产品销售难、农民收入增长慢等问题的一个重要因素就是农产品流通模式落后。与国外农产品流通渠道相比,中国农产品流通渠道体系还存在诸多的弊端。要提高中国农产品流通渠道运行的绩效,解决"小农户"与"大市场"之间的矛盾,关键是对中国农产品流通模式进行优化研究,而在农产品流通模式优化上,渠道关系理论为我们提供了很好的视角。     

Policy Reform in the European Union Dairy Sector: Effects on Markets and Welfare

This paper analyzes the impacts of policy reforms in the EU dairy sector. It is shown that the imple-mentation of GATT agreements leads to a 4% decrease in the milk price. Prices of SMP and WMP decrease more than butter and cheese prices. EU welfare increases marginally, but distributive effects are large. The increase in quotas decided by the Berlin Agreement will cause a dramatic cut in the milk price (?10% to ?15% depending on how EU demand will increase in the future). Moreover, because of the constraints on subsidized exports, the implicit price of protein will decrease much more than the price of fat. Finally, if demand expands sufficiently, then compensatory payments (including national envelopes) will cover about 90% of the loss in producer surplus due to the milk price cut. We also inves-tigate the impact of a two-tiered quota system and show that its impacts are similar to those generated by the implementation of GATT agreements. On étudie les effets de différents scénarios de réforme de la politique laitiére européenne. La mise en oeuvre des accords du GATT implique une réduction du prix du lait de 4%. De plus, les baisses de prix des produits transformés sont plus importantes pour les poudres de lait que pour le beurre ou le fro-mage. L'impact des accords sur le bien-ětre est positif mais faible. Par contre les effets redistributifs sont importants. L'augmentation des quotas décidée lors de l'accord de Berlin entra?nera une baisse importante du prix du lait européen, de l'ordre de 10 %à 15 % selon l'évolution de la consommation intérieure. En raison des contraintes d'exportations qui portent principalement sur les produits pro-téiques, le prix implicite de la protéine de lait diminue beaucoup plus que le prix implicite de la matiére grasse laitiére. Par ailleurs, on montre que si la demande européenne s'accro?t suffisamment, les paiements compensatoires prévus couvriront environ 90 % des pertes de revenus des producteurs liées à la baisse du prix du lait. Enfin, on montre que les effets d'un scénario de double prix double quota sont proches de ceux provoqués par la mise en application des accords du GATT.     

The Doha Round of the World Trade Organization and Agricultural Markets Liberalization: Impacts on Developing Economies

We investigate the impacts of multilateral removal of all border taxes and farm programs and their distortions on developing economies, using a world agriculture partial equilibrium model. We quantify changes in prices, trade flows, and production locations. Border measures and farm programs both affect world trade, but trade barriers have the largest impact. Following removal, trade expansion is substantial for most commodities, especially dairy, meats, and vegetable oils. Net agricultural and food exporters emerge with expanded exports; net importing countries with limited distortions before liberalization are penalized by higher world prices and reduced imports. We draw implications for current World Trade Organization negotiations.     

农产品流通组织制度的效率决定：一个分析框架

一、农产品流通 :组织制度的效率决定一般来讲 ,交易费用的节省意味着资源可以在更大范围内以更快速度配置和调动 ,就使得价格更大程度上反映资源的稀缺程度 ,从而优化资源配置。但另一方面 ,由于经济组织的运行却要耗费组织管理成本 ,因此 ,我们在选择组织形式与组织制度时 ,总是倾向于更加节省交易费用和管理成本者 ,以求交易费用与管理成本的边际均衡。从这个意义上讲 ,影响组织效率的因素主要有 :(一 )组织制度隐含的产权结构　法律对产权的初始界定及其对伴随交易过程发生的权利让渡后的再界定所形成的产权结构 ,即构成产权的权利束在…     

中国市场化改革进程中农业发展的若干趋势

我国国民经济和社会发展跨入 2 1世纪新的历史时期 ,将出现的结构转型、体制转轨和对外经济开放的三大趋势 ,对我国农业发展将带来深远的影响。在这里 ,我们尚难清晰地描绘中国农业发展未来走向的全貌 ,但从市场化改革进程中已经发生的或者已经初见端倪的若干变化 ,可以大致地勾勒出市场经济条件下中国农业发展的背景条件 ,这些显著的变化 ,总的集中体现在由产品经济向市场经济的转变 ,具体则体现在 :农业投资主体由以集体为主转向农户个体为主 ;农业生产组织由行政性安排转向农民自组织 ;农产品交易由行政性分割市场转向国内统一大市场 ;农…     

中国农产品批发市场的建设与发展方向

一、农产品批发市场发展的基本情况1 .批发市场已经成为鲜活农产品流通的主渠道。我国农产品批发市场起步于 2 0世纪 80年代中期 ,经过十五六年的建设 ,截止到 1 999年底 ,已发展到 42 49个 (其中城市 1 856个 ,农村2 3 93个 ) ,年经营额 2 71 5亿元。它们覆盖了所有的大中小城市和农产品集中产区 ,构筑成了贯通全国城乡的农产品流通大动脉。目前 ,大中城市消费鲜活农产品的 50 %～ 70 %是通过批发市场提供的 ,通常是城市规模越大 ,这个比重就越高。批发市场的发展 ,为搞活农产品流通 ,增加农民收入 ,丰富城镇居民的“菜篮子”和“果盘子” …     

Measuring the Effects of Generic Dairy Advertising in a Multi-Market Equilibrium

We develop a multi-market equilibrium displacement model that allows demand linkages across downstream product markets, and supply linkages through the common use of a raw commodity as the key input. Applying the model to the dairy sector, we find that the effectiveness of producer-funded advertising depends on the demand relationships across dairy product markets (cross-price and cross-advertising elasticities) as well as the reallocation of milk toward the advertised market. We show that the previous literature, which ignores the horizontal linkages highlighted here, tends to overstate the effectiveness of generic commodity promotion for dairy, and thus results in too much advertising.     

Characteristics of Agricultural Marketing in Hungary During the Formation of Market Economy

Although the central planning system of the Hungarian economy changed after 1968, there was not any considerable decrease of state interference nor was there any significant increase in the role of the market. It was the system of state interference which changed: instead of direct methods the emphasis was primarily put on indirect methods (price subsidies, taxes, loans). The role of the market continued to remain of secondary importance, which was mainly indicated by the low level of market competition. In addition, the economic system fundamentally affected agricultural marketing. The role of the market started to be valued significantly from 1989-1990. In this article I shall describe the initial situation of a market-oriented economy as well as the major trends and the steps of the new programme.     

拍卖交易与我国农产品批发市场交易方式创新

经济体制改革以来 ,我国农产品批发市场发展迅速 ,形成了多层次、多元化的发展格局。据统计 ,目前 ,我国的农产品批发市场有 40 0 0多个 ,其中具有一定规模的批发市场 2 0 0 0多个 ,标志着我国农产品批发市场以数量扩张阶段行将结束。随着我国经济进入以产业结构升级为主的新阶段 ,以及加入ＷＴＯ以后同世界经济的全面接轨 ,农产品批发市场的变革已经不可避免。在这个质变的过程中 ,除了观念转变、体制改革、功能转换、管理升级等方面以外 ,交易方式的创新也是十分重要的 ,其核心内容就是如何稳妥有效地引进拍卖交易。一、我国农产品流通过…     

我国农产品批发市场的现状与发展趋势

农产品批发市场是为农产品集中批发交易提供场所的有形市场。农产品批发市场的出现是我国流通体制改革的重大成果 ,它的兴起与发展 ,不仅加快了我国农业市场化进程 ,对整个经济体制改革也起了重要推动作用。进入新世纪 ,作为农产品流通枢纽的批发市场怎样变革发展 ,才能适应市场经济发展及与国际市场接轨的需要 ,理应值得人们更多关注 ,本文反映作者对这一问题的初步思考。一、我国农产品批发市场发展概述作为改革进程中交易制度创新的产物 ,农产品批发市场是在农户小生产与社会大市场的背景下 ,适应与促进我国农业市场化和农产品区域流通发…     

Finding Missing Markets (and a Disturbing Epilogue): Evidence from an Export Crop Adoption and Marketing Intervention in Kenya

Farmers may grow crops for local consumption despite more profitable export options. DrumNet, a Kenyan NGO that helps small farmers adopt and market export crops, conducted a randomized trial to evaluate its impact. DrumNet services increased production of export crops and lowered marketing costs, leading to a 32% income gain for new adopters. The services collapsed one year later when the exporter stopped buying from DrumNet because farmers could not meet new EU production requirements. Farmers sold to other middlemen and defaulted on their loans from DrumNet. Such experiences may explain why farmers are less likely to adopt export crops.     

我国粮食流通体制改革的目标模式及政策选择

全面建设小康社会,是新世纪新阶段全党全国人民的奋斗目标,也是十六大的政治宣言。全面建设小康社会,关键在农民,没有农民的小康,就没有全国人民的小康,全面建设小康社会目标就难以实现。农业是我国国民经济的基础,粮食是基础的基础。粮食流通体制改革能否到位对我国粮食生产和流通具有重要的影响。本文拟就我国粮食流通体制改革的目标模式及政策选择谈点粗浅看法和认识。一、市场化取向是我国粮食流通体制改革的主线江泽民同志在十六大报告中明确指出:“社会主义市场经济体制初步建立。”作为经济体制重要组成部分的粮食流通体制,也沿着市场化的方向不断改革和完善。 (一)我国粮食流通体制改革的简要回顾。始于20世纪80年代初的粮食流通体制改革,是我国持     

农产品价格波动对政策性农业保险的影响研究——基于主体博弈模型

政策性农业保险作为中国发展三农事业的重要措施,因其独特的风险属性和潜在的利益冲突受到学术界的关注。本文基于主体博弈模型,引入农产品价格波动因素,分析农产品价格波动如何对政策性农业保险主体行为产生影响。研究发现:引入农产品价格波动变量使政策性农业保险主体博弈均衡象限发生了变化;政府补贴为农户和保险公司应对农产品价格波动提供了重要保障。基于2007—2017年政策性农业保险省级面板数据,建立PVAR模型实证判别农产品价格波动对政策性农业保险的影响。研究发现:农产品价格波动对政策性农业保险需求存在促进作用,对农户增收短期内有负向冲击,而未来3—6期则将产生正向效应;农产品价格波动、农户收入与政策性农业保险需求存在动态交互效应。本文的研究结论,能够为防范农产品价格风险和发展政策性农业保险提供科学依据和数据支持。