Open Economies: Structural Adjustment and Agriculture PDF
Preview Open Economies: Structural Adjustment and Agriculture
Many of the structural adjustment programmes applied in developing countries and more recently in Eastern Europe have targeted their agricultural sectors, which account for major shares of economic activity and income. Liberalising agricultural trade has major effects on income distribution and hence potentially significant implications for the political economy of reform. These fundamental effects on the organisation of economic activity and the relative positions of different economic sectors remain, however, a neglected issue of policy analysis. In this volume, derived from a joint conference held by the Centre for Economic Policy Research and the OECD Development Centre in Paris in April 1991, leading international experts explicitly consider such open economy dimensions to structural adjustment. They focus in particular on the relation of domestic to international reforms; the sequencing of trade, sectoral and other reforms; the impact of structural adjustment on infrastructure and investment; the design of policy programmes to stabi- lise income and agricultural prices in open economies; and the impli- cations for public finance of agricultural reform. They also assess the prospects for the success of trade reform in increasing agricultural competitiveness in world markets, focusing in particular on the circum- stances in which the 'small country assumption' is violated and the policy implications of its violation. Open economies: structural adjustment and agriculture OECD Development Centre The OECD Development Centre was established in 1962. Its main activities are research, external relations, in particular with research and training institutes in the world, and the organisation of informal meetings with high-level representatives of Member and non-member countries to discuss economic issues of mutual concern. In its research activities, the Development Centre seeks to identify issues that will become the subject of growing concern in the near future, and whose implications are of vital interest to both Member and non-member countries. It also seeks to suggest policy directions for dealing with these issues. The Centre maintains numerous contacts in the field of development and encourages the worldwide exchange of experience and knowledge. It thereby contributes to the flow of information on development and to the bridging of differences between OECD Member and non-member coun- tries in the perception and analysis of problems and policies relating to development and interdependence. President Louis Emmerij Director of Co-ordination Jean Bonvin Research Colin Bradford External Relations Giulio Fossi Senior Research Staff Ian Goldin Christian Morrisson Charles Oman Helmut Reisen David Turnham 17 September 1991 Centre for Economic Policy Research The Centre for Economic Policy Research is a network of more than 130 Research Fellows, based primarily in European universities. The Centre coordinates its Fellows' research activities and communicates their results to the public and private sectors. CEPR is an entrepreneur, developing research initiatives with the producers, consumers and sponsors of research. Established in 1983, CEPR is already a European economics research organisation with uniquely wide-ranging scope and activities. CEPR is a registered educational charity. Grants from the Leverhulme Trust, the Esmee Fairbairn Charitable Trust, the Baring Foundation, the Bank of England and Citibank provide institutional finance. The ESRC supports the Centre's dissemination programme and, with the Nuffield Foundation, its programme of research workshops. None of these organi- sations gives prior review to the Centre's publications nor necessarily endorses the views expressed therein. The Centre is pluralist and non-partisan, bringing economic research to bear on the analysis of medium- and long-run policy questions. CEPR research may include views on policy, but the Executive Committee of the Centre does not give prior review to its publications and the Centre takes no institutional policy positions. The opinions expressed in this volume are those of the authors and not those of the Centre for Economic Policy Research. Executive Committee Chairman Vice-Chairmen Anthony Loehnis Jeremy Hardie Sir Adam Ridley Professor Giorgio Basevi Sarah Hogg Honor Chapman Kate Mortimer Guillermo de la Dehesa Alasdair Smith Professor Jacob A. Frenkel Sheila Drew Smith Officers Director Deputy Director Professor Richard Portes Stephen Yeo Director of Finance and Research Administration Wendy Thompson 17 September 1991 Open economies: structural adjustment and agriculture Edited by IANGOLDIN and L. ALAN WINTERS The right of the University of Cambridge to print and sell all manner of books was granted by Henry VUI in 1534. The University has printed and published continuously since 1584. CAMBRIDGE UNIVERSITY PRESS Cambridge New York Port Chester Melbourne Sydney Published by the Press Syndicate of the University of Cambridge The Pitt Building, Trumpington Street, Cambridge CB2 1RP 40 West 20th Street, New York, NY 10011—4211, USA 10 Stamford Road, Oakleigh, Victoria 3166, Australia © Cambridge University Press 1992 First published 1992 Printed in Great Britain at the University Press, Cambridge A catalogue record for this book is available from the British Library Library of Congress cataloguing in publication data Open economies: structural adjustment and agriculture/edited by Ian Goldin and L. Alan Winters, p. cm. Papers from a joint conference held by the Centre for Economic Policy Research and the OECD Development Centre in Paris in April 1991. Includes bibliographical references and index. ISBN 0-521-42056-3 (hardback) 1. Produce trade - Government policy - Congresses. 2. Agriculture and state - Congresses. 3. Commercial policy - Congresses. 4. International economic relations - Congresses. I. Goldin, Ian, 1955- II. Winters, L. Alan. III. Centre for Economic Policy Research (Great Britain) IV. Organisation for Economic Co-operation and Development. Development Centre. HD9000.6.064 1991 338.1 '8 -dc20 91-44688 CIP ISBN 0 521 42056 3 hardback CE Contents List of figures page xiv List of tables xv Preface: Louis Emmerij and Richard Portes xvii Acknowledgements xviii List of conference participants xix 1 Introduction: from macro to maize 1 Ian Goldin and L. Alan Winters 1 Introduction 1 2 Open economy analysis 3 3 The small country assumption and trade reform 5 4 Risk and adjustment 8 5 Government's role 10 6 Conclusion 12 Part One: Open economy analysis 13 2 Sequencing and welfare: labour markets and agriculture 15 Sebastian Edwards 1 Introduction 15 2 The sequencing of structural reforms: a general welfare approach 18 3 The sequencing of reform and the agricultural sector: basic results 25 4 Extensions: intermediate inputs, investment, and alternative indexation 33 5 Concluding remarks 35 Discussion Helmut Reisen 39 ix
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