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Managing food price instability in developing countries : a critical analysis of strategies and instruments

Galtier F., Vindel B., Timmer P.C.. 2013. Paris : AFD, 280 p.. (A savoir : AFD, 17).

Présentation de l'éditeur : Food price instability has dramatic consequences in developing countries where it hits consumers hard and causes food insecurity. The risk it entails for producers is so great that it discourages them from investing. It therefore obstructs green revolutions, and thereby blocks the road to economic development. In certain cases, price instability also generates political instability and macroeconomic imbalances. Ever since the crises of 2005 (in the Sahel) and 2008 (on international markets), the management of price instability has figured large in the policies of developing countries and is back on the international agenda (G20 action plan; work by FAO's Committee on World Food Security). Based on a comprehensive review of the theoretical and empirical literature, this book identifies and analyzes four "pure" strategies that can be employed to manage food price instability. It clearly underlines the limitations of conventional solutions that rely on mixing a risk management strategy (using insurance-based instruments) with a crisis management strategy (using emergency aid). It explains why more structural solutions that require considerable State involvement are needed to stimulate the modernization of agricultural production and markets, and recapitalize vulnerable households.This cannot be achieved solely by facilitating access to inputs and by transferring assets to poor households: public intervention is necessary to prevent prices from reaching extreme values. Such interventions must be based on a combination of instruments that match the specificities of the national or regional context. The international community has a key role to play in the success of these policies. This book is intended for policy-makers, researchers, teachers, students, and all those interested in price instability, food security and the agricultural development of Africa, Asia and Latin America

Mots-clés : stabilisation des prix; sécurité alimentaire; produit alimentaire; prix; politique des prix; politique alimentaire; intervention de l'état; changement structurel; gestion du risque; crise économique; aide alimentaire; réglementation des marchés; marché mondial; pays en développement; pauvreté; asie; afrique; amérique latine; stratégie économique; politique publique

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