Quotation Hirsch, Cornelius, Oberhofer, Harald. 2020. Bilateral trade agreements and price distortions in agricultural markets. European Review of Agricultural Economics. 47 (3), 1009-1044.


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Abstract

Agricultural support levels are at a crossroad with reduced distortions in OECD countries and increasing support for agricultural producers in emerging economies observable over the last decades. This paper studies the determinants of distortions in the agricultural markets by putting a specific focus on the role of trade policy. Applying various different dynamic panel data estimators and explicitly accounting for potential endogeneity of trade policy agreements, we find that an increase in the number of bilateral free trade agreements exhibits significant short- and long-run distortion reducing effects. By contrast, our evidence suggests that WTO’s Uruguay Round Agreement on Agriculture has not been successful in systematically contributing to a reduction in agricultural trade distortions. From a policy point of view, our findings thus point to a lack of effectiveness of multilateral trade negotiations.

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Publication's profile

Status of publication Published
Affiliation WU
Type of publication Journal article
Journal European Review of Agricultural Economics
Citation Index SSCI
WU-Journal-Rating new VW-D, WH-B
Language English
Title Bilateral trade agreements and price distortions in agricultural markets
Volume 47
Number 3
Year 2020
Page from 1009
Page to 1044
Reviewed? Y
DOI http://dx.doi.org/doi:10.1093/erae/jbz004
Open Access N

Associations

People
Oberhofer, Harald (Details)
External
Hirsch, Cornelius (WIFO, Austria)
Organization
Institute for International Economics IN (Details)
Research areas (ÖSTAT Classification 'Statistik Austria')
5323 Econometrics (Details)
5325 Political economics (Details)
5344 Foreign trade (Details)
5370 Industrial economics (Details)
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