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An Overview of Bilateral Trade Agreements for Agricultural Commodities in International Markets

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  • Webb, Alan J.
  • Wilson, Edward C.

Abstract

Tighter world grain markets, increased price variability, and the growing importance of the state trading agencies of developing and centrally planned countries have been major forces increasing the use of bilateral trade agreements. The terms of these agreements are examined and current trends in the pattern of trade under bilateral arrangements are identified. A theoretical trade model is developed and shows that the major impact of bilateral agreements is an increase in price and trade variability. The model is used to define a maximum limit to U.S. bilateral trade commitments for a given level of risk.

Suggested Citation

  • Webb, Alan J. & Wilson, Edward C., 1981. "An Overview of Bilateral Trade Agreements for Agricultural Commodities in International Markets," Staff Reports 276716, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uerssr:276716
    DOI: 10.22004/ag.econ.276716
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    File URL: https://ageconsearch.umn.edu/record/276716/files/ers-report-031.pdf
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    References listed on IDEAS

    as
    1. Malcolm D. Bale & Ernst Lutz, 1979. "The Effects of Trade Intervention on International Price Instability," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 61(3), pages 512-516.
    2. J. R. Groenewegen & W. W. Cochrane, 1980. "A Proposal to Further Increase the Stability of the American Grain Sector," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 62(4), pages 806-811.
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    Cited by:

    1. Bain, Robert A., 1981. "Changes in the International Grain Trade in the 1980's," Foreign Agricultural Economic Report (FAER) 147123, United States Department of Agriculture, Economic Research Service.
    2. Prentice, Barry E. & Tyrchniewicz, E. W., 1986. "Agricultural Countertrade: Perspectives, Economics, and Canadian Commercial Policy," Working Papers 243999, Agriculture and Agri-Food Canada.

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