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Canadian Agriculture and Risk Management Programs in the Context of the COVID-19 Crisis: A Brief Assessment

Author

Listed:
  • Maurice Doyon
  • Alphonse Singbo

Abstract

In the wake of the announcement of numerous federal ad hoc programs to stimulate the economy in response to the COVID-19 crisis, it is worth discussing how the suite of business risk management tools that are part of the Canadian Agricultural Partnership is likely to respond to the negative impacts of the pandemic on Canadian agriculture. We argue for a short term bonification of AgriInvest and AgriStability to face the challenges ahead and to minimize the inefficiencies associated with ad hoc programs. More broadly, our arguments to use a risk management tool for a black swan event instead of ad hoc programs is likely to fuel the debate between risk management and income support.

Suggested Citation

  • Maurice Doyon & Alphonse Singbo, 2020. "Canadian Agriculture and Risk Management Programs in the Context of the COVID-19 Crisis: A Brief Assessment," CIRANO Working Papers 2020s-20, CIRANO.
    • Handle: RePEc:cir:cirwor:2020s-20
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    File URL: https://cirano.qc.ca/files/publications/2020s-20.pdf
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    References listed on IDEAS

    as
    1. Maurice Doyon, 2011. "Canada's Dairy Supply Management: Comprehensive Review and Outlook for the Future," CIRANO For discussion... 2011dt-01, CIRANO.
    2. Pierre Desrochers & Vincent Geloso & Alexandre Moreau, 2018. "Supply management and household poverty in Canada," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 65(2), pages 231-240, June.
    3. Peter Slade, 2020. "Business risk management programs under review," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 68(3), pages 263-270, September.
    4. Lambert, Remy, 2012. "A Primer on the Economics of Supply Management and Food Supply Chains," Working Papers 125246, Structure and Performance of Agriculture and Agri-products Industry (SPAA).
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    COVID-19; Business Risk Management; Agricultural Sector; Canada;
    All these keywords.

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