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Transition Problems in Policy Reform: Agricultural Trade Liberalization in India

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  • Servaas Storm

Abstract

What will be the domestic growth and distributional effects of agricultural trade liberalization in India? How fast should Indian agriculture be liberalized and what policies should characterize the transition? This paper uses Indian agriculture to analyze medium‐term transition problems that arise in many major economic reforms. Employing a dynamic applied general‐equilibrium model, the paper focuses on the implications for policy design of the absence of efficient capital and labor markets and on the distributional consequences of economic reform in the presence of realistic limits on available intervention instruments. The key finding is that trade adjustment should be supplemented by policies that raise land productivity and, because this takes time, the adjustment should be gradual.

Suggested Citation

  • Servaas Storm, 2003. "Transition Problems in Policy Reform: Agricultural Trade Liberalization in India," Review of Development Economics, Wiley Blackwell, vol. 7(3), pages 406-418, August.
    • Handle: RePEc:bla:rdevec:v:7:y:2003:i:3:p:406-418
    DOI: 10.1111/1467-9361.00199
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    References listed on IDEAS

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    1. Antônio Salazar P. Brandão & Will J. Martin, 1993. "Implications of agricultural trade liberalization for the developing countries," Agricultural Economics, International Association of Agricultural Economists, vol. 8(4), pages 313-343, June.
    2. Ocampo, Jose Antonio & Taylor, Lance, 1998. "Trade Liberalisation in Developing Economies: Modest Benefits but Problems with Productivity Growth, Macro Prices, and Income Distribution," Economic Journal, Royal Economic Society, vol. 108(450), pages 1523-1546, September.
    3. Servaas Storm, 1997. "The unfinished agenda: Indian agriculture under the structural reforms," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 6(2), pages 249-286.
    4. Storm, Servaas, 2001. "The Desirable Form of Openness for Indian Agriculture," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 25(2), pages 185-207, March.
    5. Levy, Santiago & van Wijnbergen, Sweder, 1995. "Transition Problems in Economic Reform: Agriculture in the North American Free Trade Agreement," American Economic Review, American Economic Association, vol. 85(4), pages 738-754, September.
    6. Sahn, David E. (ed.), 1996. "Economic Reform and the Poor in Africa," OUP Catalogue, Oxford University Press, number 9780198290353.
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