Chapter

The Objectives and Instruments of Government Policy and the Structure of the Economy in LDCs

Raaj K. Sah and Joseph E. Stiglitz

in Peasants versus City-Dwellers

Published in print February 2002 | ISBN: 9780199253579
Published online January 2005 | e-ISBN: 9780191601682 | DOI: http://dx.doi.org/10.1093/0199253579.003.0002
The Objectives and Instruments of Government Policy and the Structure of the Economy in LDCs

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One of the concerns of this book is with government policies towards food and other agricultural goods, and with how a government treats producers in the rural sector and consumers in the urban sector. Governments – both in LDCs (less developed countries) and in several developed countries – play an active role in setting food prices received by farmers and the food prices paid by city-dwellers. Therefore, it is important to identify what are the salient characteristics of LDCs relevant to such policies, what the stated objectives of these policies are, and what the alternative instruments at a government’s disposal are for attaining these objectives. Accordingly, as a basis for the methods used in the book, this chapter addresses the stated objectives of food-related policies, puts agricultural policies in perspective, and gives an account of the economic structure of LDCs.

Keywords: agricultural policy; economic structure; food policy; less developed countries (LDCs); rural sector; urban sector

Chapter.  5822 words. 

Subjects: Economic Development and Growth

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