Journal Article

Policies on Managing Risk in Agricultural Markets

Donald F. Larson, Jock R. Anderson and Panos Varangis

in The World Bank Research Observer

Published on behalf of World Bank

Volume 19, issue 2, pages 199-230
Published in print September 2004 | ISSN: 0257-3032
Published online September 2004 | e-ISSN: 1564-6971 | DOI: http://dx.doi.org/10.1093/wbro/lkh022
Policies on Managing Risk in Agricultural Markets

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Over the past dozen years, policymakers have largely abandoned long-standing popular approaches for addressing risk in agriculture without fully resolving the question of how best to manage the negative consequences of volatile agricultural markets. The article reviews the transition from past policies and describes current approaches that distinguish between the trade-related fiscal consequences of commodity market volatility and the consequences of price and production risks for vulnerable rural households and communities. Current policies rely more heavily on markets, even though markets for risk are incomplete in numerous ways. The benefits and limitations of market-based instruments are examined in the context of risk management strategies, and innovative approaches to extend the reach of risk markets are discussed.

Journal Article.  0 words. 

Subjects: Development Planning and Policy

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