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Should global agriculture be liberalized? : Theories, models and realities

Boussard J.M., Gérard F., Piketty M.G.. 2008. Enfield : Science Publishers, 173 p..

Présentation de l'éditeur : For the last many years, governments of most countries have been disengaging state-run organizations from agriculture, because the market is believed to be the best and most efficient mannager of supply and demand. General equilibrium models showing enormous productivity gains from fully exploiting comparative advantages support this trend. The role played by government bodies in framing agricultural policies often results in market turbulence, especially price fluctuations. Price fluctuations, a very common feature of agricultural markets, question the capability of markets to efficiently regulate the agricultural sector. The expected benefits from market forces may thus vanish. This book presents the results of a new "disequilibrium" model, showing how uncontrolled liberalization of international markets could be counterproductive in agriculture. many remarks based on history, economic analysis, model building, the theory of chaotic motion, make this book a must for persons curious to learn about the interactions between practical policy, economic theory, and mathematical models. Contents: Introduction; I - What can be expected from the liberalization of agricultural trade?: Ricardo's parable; risk aversion; the law of large numbers and market stabilization. II - Theoretical criticism of agricultural liberalism: Galiani; the notion of demand elasticity; algebraic expressions of the Cobweb theorem. III - The test of facts. IV - Designing an economic model for international trade: the CES function; first-order conditions; the LES function and consumer behavior; the GTAP database. V - How can theory and history be introduced in a standard model?: the Markowitz model. VI - A choice of results. VII - Could we do better?; the algebra of futures markets. VIII - Recent developments. Conclusion

Mots-clés : agriculture; libéralisation des échanges

Thématique : Economie et politique agricoles; Commerce international

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