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Agricultural Reforms In Chile And New Zealand: A Review

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  • A. Valdés

Abstract

Chile and New Zealand are both small countries for which agricultural exports are important: both undertook comprehensive economic reforms during the 1970s and 1980s respectively. Comparison of the experiences shows that macroeconomic policy, above all the resulting movements in the real exchange rate and in interest rates, has a critical impact on agriculture. In both cases, rolling back the state has encouraged private responses. In Chile the challenges ahead lie in continuing productivity improvements, and in raising the welfare of smallholders in marginal areas. Six years after the initiation of reforms, New Zealand agriculture shows a healthy recovery. Once committed to economy‐wide reforms – stabilisation, adjustment, and trade liberalisation – and companion reforms of institutions, how do governments best proceed? With what reforms and in what mix, sequence, strength, and speed? For agriculture, specifically, this paper takes a close look at which reforms, or aspects of their implementation, can accelerate or slow down private investment and aggregate supply response.

Suggested Citation

  • A. Valdés, 1994. "Agricultural Reforms In Chile And New Zealand: A Review," Journal of Agricultural Economics, Wiley Blackwell, vol. 45(2), pages 189-201, May.
    • Handle: RePEc:bla:jageco:v:45:y:1994:i:2:p:189-201
    DOI: 10.1111/j.1477-9552.1994.tb00393.x
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    References listed on IDEAS

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    1. Muchnik, Eugenia & Allue, Marcela, 1991. "The Chilean experience with agricultural price bands: The case of wheat," Food Policy, Elsevier, vol. 16(1), pages 67-73, February.
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    Cited by:

    1. Schiff, Maurice & Valdes, Alberto, 1998. "Agriculture and the macroeconomy," Policy Research Working Paper Series 1967, The World Bank.
    2. Rae, Allan N. & Nixon, Chris & Lattimore, Ralph G., 2003. "Adjustment to Agricultural Policy Reform - Issues and Lessons from the New Zealand Experience," Policy Reform and Adjustment Workshop, October 23-25, 2003, Imperial College London, Wye Campus 15741, International Agricultural Policy Reform and Adjustment Project (IAPRAP).
    3. Valdes, Alberto & Gnaegy, Suzanne, 1996. "Economy-wide reform and agricultural recovery: Observations of economic Darwinism among transition economies," Agricultural Economics, Blackwell, vol. 14(3), pages 143-157, August.
    4. Harris, David N. & Rae, Allan N., 2004. "Agricultural Policy Reform and Industry Adjustment in Australia and New Zealand," IAPRAP\IATRC Summer Symposium, Adjusting to Domestic and International Agricultural Reform in Industrial Countries, June 6-7, 2004, Philadelphia, PA, 15762, International Agricultural Policy Reform and Adjustment Project (IAPRAP).

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