Agricultural policy in an uncertain world
2011
Chavas, Jean-Paul
This paper briefly reviews the current food situation and provides some historical perspectives on its evolution over time. It documents the important effects of agricultural productivity. It also evaluates the role of externalities, uncertainty and policy in the agricultural sector. The analysis stresses the joint role of uncertainty and externalities in the analysis of efficiency issues in the agricultural sector. Implications for farm management and agricultural policy are discussed.
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