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The Economics of Food Supply Chain Resilience

Author

Listed:
  • Jill E. Hobbs

    (Department of Agricultural and Resource Economics, University of Saskatchewan, Saskatoon, Saskatchewan, Canada)

  • Jeffrey Hadachek

    (Department of Agricultural and Applied Economics, University of Wisconsin–Madison, Madison, Wisconsin, USA)

Abstract

Food supply chain resilience has become a priority for policymakers in recent years. Prompted by several systemic disruptions and the increased likelihood of future shocks, significant attention and public financial investment have been devoted to preparing supply chains to be more able to absorb shocks and more nimbly respond in the future. Food and agricultural supply chains have been particularly scrutinized due to widespread shortages and food price inflation of key staples in recent years. Varied perspectives have emerged about the factors that contribute to the resiliency of food supply chains and the interventions that will be most effective. This article reviews the perspectives on food supply chain resilience generally. Furthermore, we attempt to synthesize the methodologies that have been used to study resilience and offer some guidance for economists studying the topic moving forward.

Suggested Citation

  • Jill E. Hobbs & Jeffrey Hadachek, 2024. "The Economics of Food Supply Chain Resilience," Annual Review of Resource Economics, Annual Reviews, vol. 16(1), pages 379-397, October.
    • Handle: RePEc:anr:reseco:v:16:y:2024:p:379-397
    DOI: 10.1146/annurev-resource-100423-095119
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    More about this item

    Keywords

    market structure; food policy; extreme shocks; supply chain resilience;
    All these keywords.

    JEL classification:

    • Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy; Animal Welfare Policy
    • L66 - Industrial Organization - - Industry Studies: Manufacturing - - - Food; Beverages; Cosmetics; Tobacco
    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
    • Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness

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