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Pros And Cons Of Temporary Industry Assistance

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  • John W. Freebairn

Abstract

The objectives and relative effectiveness of different methods of providing temporary assistance to a particular industry experiencing a significant reduction in returns and liquidity are evaluated. It is doubtful that assistance can be justified for resource efficiency reasons. This is argued to be so when the cause of the downturn in industry returns is due to temporary factors, such as drought, and when it is due to long-term trend factors, such as economic growth. While an industry slump can cause welfare problems, most households are able to use contingency strategies, e.g. savings, or resort to existing welfare programs, e.g. unemployment benefits. Direct income grants are preferable to output and input subsidies as means of providing welfare assistance.
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  • John W. Freebairn, 1978. "Pros And Cons Of Temporary Industry Assistance," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 22(2-3), pages 194-205, 08-12.
    • Handle: RePEc:bla:ajarec:v:22:y:1978:i:2-3:p:194-205
    DOI: j.1467-8489.1978.tb00219.x
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    References listed on IDEAS

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    1. repec:bla:ecorec:v:51:y:1975:i:134:p:232-41 is not listed on IDEAS
    2. Forsythe, G.A., 1975. "An Assessment Of The Role Of Insurance And Structural Measures In Flood Mitigation Planning," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 43(02), pages 1-23, June.
    3. T. J. Valentine, 1975. "Adjustments in Employment, Overtime and Inventory Investment in the Australian Economy," The Economic Record, The Economic Society of Australia, vol. 51(2), pages 232-241, June.
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    Cited by:

    1. Anderson, Jock R., 1979. "Impacts of Climatic Variability in Australian Agriculture: A Review," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 47(03), pages 1-31, December.
    2. Quiggin, John C., 1986. "A Note On The Viability Of Rainfall Insurance," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 30(1), pages 1-7, April.
    3. Freebairn, John W., 1983. "Drought Assistance Policy," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 27(3), pages 1-15, December.
    4. Simmons, Phil, 1993. "Recent Developments in Commonwealth Drought Policy," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 61(03), pages 1-12, December.
    5. Edwards, Geoff W., 1980. "The Iac'S Approach To Agricultural Policy," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 24(2), pages 1-21, August.
    6. Peter Bardsley & Arun Abey & Scott V. Davenport, 1984. "The Economics Of Insuring Crops Against Drought," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 28(1), pages 1-14, April.
    7. Geoff W. Edwards, 1987. "Agricultural Policy Debate: A Survey," The Economic Record, The Economic Society of Australia, vol. 63(2), pages 129-143, June.

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