Cover

Half-title

Title

Copyright

Contents

List of figures

List of tables

Preface: Louis Emmerij and Richard Portes

Acknowledgements

List of conference participants

1 Introduction: from macro to maize

1 Introduction

2 Open economy analysis

3 The small country assumption and trade reform

4 Risk and adjustment

5 Government's role

6 Conclusion

Part One: Open economy analysis

2 Sequencing and welfare: labour markets and agriculture

1 Introduction

2 The sequencing of structural reforms: a general welfare approach

3 The sequencing of reform and the agricultural sector: basic results

4 Extensions: intermediate inputs, investment, and alternative indexation

5 Concluding remarks

Discussion

Helmut Reisen

3 Agricultural adjustment and the Mexico-USA free trade agreement

1 Introduction

2 Background

3 Model structure

4 Efficiency and distributional impact of the FTA in agriculture

5 Conclusions

Discussion

Daniel Cohen

4 Do the benefits of fixed exchange rates outweigh their costs? The CF A Zone in Africa

1 The issues

2 The CF A Zone

3 The framework

4 The trade-offs: empirical application to the CF A Zone

5 Concluding remarks

Discussion

Emil-Maria Claassen

1 Introduction

2 An 'island of price stability', but an overvalued currency

3 The disregard of the rules of monetary adjustment

4 Deflation versus devaluation

5 Concluding remarks

5 Adjustment and the rural sector: a counterfactual analysis of Morocco

1 Introduction

2 Disequilibrium and adjustment in Morocco

3 A disaggregated simulation model applied to Morocco

4 Simulation of the reforms included in the 1985-6 SAL

5 Conclusions

Discussion

Shantayanan Devarajan

Part Two: The small country assumption and trade reform

6 Exchange reforms, supply response, and inflation in Africa

1 Introduction

2 Exchange rate and incentive reforms and supply response

3 Exchange rates and inflation

4 Exchange rates and inflation: a framework for analysis

5 The devaluation-inflation interaction and supply response

Discussion

Jean-Paul Azam

1 Introduction

2 Devaluation and supply response

3 Devaluation and inflation

4 The parallel market economies

5 The repressed economies

6 Conclusion

7 Taxes versus quotas: the case of cocoa exports

1 Introduction

2 The model

3 Simulation results

4 Limitations and future directions

5 Conclusions

Discussion

Peter Lloyd

8 Trade reform and the small country assumption

1 Introduction

2 Conceptual issues

3 Empirical estimates

4 Conclusions

Appendix 1: The elasticities used for tree crops

Appendix 2: RUNS model overview

Discussion

Christopher Bliss

Part Three: Risk and adjustment

9 Markets, stabilisation and structural adjustment in Eastern European agriculture

1 Introduction

2 Stabilisation by trade tools

3 Public stabilisation through domestic markets

4 Market tools for risk management

5 Risk management in the grain sectors of Hungary and Poland

6 Conclusions

Discussion

F. Gerard Adams

10 Should marketing boards stabilise prices through forward purchases?

1 Stabilisation or hedging

2 Producer behaviour under different pricing regimes

3 A simulation model

4 Simulation results

5 Conclusion

Discussion

Walter C. Labys

Part Four: Government's role

11 Infrastructure, relative prices and agricultural adjustment

1 Introduction

2 Economic performance under adjustment lending

3 Public investment and relative prices: an econometric analysis

4 Conclusions

Discussion

Paul Seabright

12 Structural factors and tax revenue in developing countries: a decade of evidence

1 Introduction

2 The level of taxation

3 The structure of taxation

4 Concluding remarks

Statistical appendix 1: Tax to GDP ratios in 1988 - Africa and Asia

Statistical appendix 2: Tax to GDP ratios in 1988 - Europe, Latin America and Middle East/North Africa

Discussion

Nicholas Stern

I The general approach

2 The data

3 The econometrics

4 Agricultural taxation

5 Agricultural taxation and structural adjustment

6 Concluding remarks

13 International dimensions of the political economy of distortionary price and trade policies

I A simple model of the political market for agricultural policy

2 Opening the political market to international influences

3 Implications for future policies and structural adjustments

Discussion

David Blandford

Index