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Agricultural Trade Liberalization in a Multi-Sector World Model

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  • Krissoff, Barry
  • Ballenger, Nicole

Abstract

Impacts of agricultural and nonagricultural trade liberalization on agriculture are assessed in a multi-commodity, multi-country framework. By modeling simultaneously all goods sectors of the economy, we evaluate the importance of (1) relative price changes between sectors and (2) income and exchange rate adjustments that follow trade liberalization in a world of floating rates. Specifically, we compare two cases using a static world policy simulation (SWOPSIM) model: agricultural multilateral liberalization and complete multilateral liberalization with floating exchange rates for all countries/region. In both cases agricultural commodity prices tend to increase, an effect which is more pronounced when currency values adjust. The developing countries, in particular Argentina, Brazil, and Mexico, have the most significant advances in agricultural and total domestic product when exchange rates vary. Morever, the gains from international trade are extended to all countries/regions explicitly specified in the model.

Suggested Citation

  • Krissoff, Barry & Ballenger, Nicole, 1987. "Agricultural Trade Liberalization in a Multi-Sector World Model," Working Papers 51244, International Agricultural Trade Research Consortium.
    • Handle: RePEc:ags:iatrwp:51244
    DOI: 10.22004/ag.econ.51244
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    Cited by:

    1. Krissoff, Barry & Sullivan, John & Wainio, John & Johnston, Brian, 1990. "Agricultural Trade Liberalization and Developing Countries," Staff Reports 278335, United States Department of Agriculture, Economic Research Service.
    2. Gunasekera, H. Don B.H. & Andrews, Neil P. & Haszler, Henry C. & Chapman, John N., 1991. "Agricultural policy reform in China," Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) Archive 316170, Australian Government, Australian Bureau of Agricultural and Resource Economics and Sciences.
    3. Hyberg, Bengt & Mercier, Stephanie & Hoffman, Linwood A., 1990. "The World Coarse Grain Market-Government Intervention and Multilateral Policy Reform," Staff Reports 278278, United States Department of Agriculture, Economic Research Service.
    4. Harwood, Joy L. & Bailey, Kenneth W., 1990. "The World Wheat Market--Government Intervention and Multilateral Policy Reform," Staff Reports 278264, United States Department of Agriculture, Economic Research Service.
    5. Kelley, Paul L., 1989. "Economics, Politics, And World Grain Trade," Research Reports 133770, Kansas State University, Department of Agricultural Economics.
    6. Schwartz, Nancy E. & Krissoff, Barry, 1989. "Unbalancing Act: Strategies for Trade in Manufactures and Agricultural Trade Impacts," 1989 Occasional Paper Series No. 5 197667, International Association of Agricultural Economists.

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    Keywords

    International Relations/Trade;

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