Despite numerous policy reforms since the 1980s, farm product
prices remain heavily distorted in both high-income and developing
countries. This book seeks to improve our understanding of why
societies adopted these policies, and why some but not other
countries have undertaken reforms. Drawing on recent developments
in political economy theories and in the generation of empirical
measures of the extent of price distortions, the present volume
provides both analytical narratives of the historical origins of
agricultural protectionism in various parts of the world and a set
of political econometric analyses aimed at explaining the patterns
of distortions that have emerged over the past five decades. These
new studies shed much light on the forces affecting incentives and
those facing farmers in the course of national and global economic
and political development. They also show how those distortions
might change in the future.
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