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Agricultural Trade Responsiveness in Western Hemisphere Countries

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  • Goodloe, Carol

Abstract

Import demand and export supply elasticities for grains, soybeans, and cotton for the Western Hemisphere countries studied suggest that neither imports nor exports will be very responsive in the medium run (2-3 years) to a reduction in U.S. commodity prices stemming from the Farm Security Act of 1985, because domestic and trade policies insulate domestic prices from changes in world prices. Import demand for feed grains and soybeans is generally more responsive to price declines than food grains. Factors other than price are often more important in influencing import decisions. But policies can change quickly, especially in many Latin American countries; a period of sustained lower U.S. prices may elicit policy changes in the long run that make import demand more responsive to lower prices.

Suggested Citation

  • Goodloe, Carol, 1986. "Agricultural Trade Responsiveness in Western Hemisphere Countries," Staff Reports 277855, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uerssr:277855
    DOI: 10.22004/ag.econ.277855
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    References listed on IDEAS

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    1. Dunmore, John & Longmire, James, 1984. "Sources Of Recent Changes In U.S. Agricultural Exports," Staff Reports 276835, United States Department of Agriculture, Economic Research Service.
    2. 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.
    3. Trapido, Paul J., 1984. "Venezuela: An Export Market Profile," Foreign Agricultural Economic Report (FAER) 147521, United States Department of Agriculture, Economic Research Service.
    4. Bolling, H. Christine & Rivera-Suarez, Nydia, 1983. "Dominican Republic: An Export Market Profile," Foreign Agricultural Economic Report (FAER) 147212, United States Department of Agriculture, Economic Research Service.
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    Cited by:

    1. Vollrath, Thomas, 1987. "Revealed Competitive Advantage For Wheat," Staff Reports 277915, United States Department of Agriculture, Economic Research Service.

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