Paper finds evidence of multiplier effect in food trade policy
Paper analyses trade measures in 77 countries from 2008 to 2011
When a shock drives up the price of food, "exporters respond by imposing restrictions while importers wind down protection," creating a "multiplier effect" in food trade policy, says the IMF.
In Food prices and the multiplier effect of trade policy, Paolo Giordani, Nadia Rocha and Michele Ruta analyse trade measures across 77 countries and 33 food products for the period 2008–11.
When exporters and importers behave in this way, they are "exacerbating the initial shock and soliciting further
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