Turkey - Price stabilization and food security policies in grains
Bigman, David | AGR
The analysis presented in this paper represents an extension of recently developed methodologies to the pattern of Turkish interventions in the wheat trade. An evaluation of specific price policies and other interventions presently practiced in Turkey, and a more general comparative analysis of alternative policy regimes accomplished two principal tasks: (i) It cast an analysis of the effects of intervention within a probabilistic framework, which is proper considering that food security and price stabilization policies are adopted with the avowed purpose of improving risk management and reducing the associated variability in producer and consumer welfare; and (ii) It provides a basis of comparison with Turkish-type policies on the assumption that these will be continued into the future. The results indicate that the basic TUR-type policies should perform less efficiently over the long run than policy variants which feature considerably less intervention in external and internal markets. It appears that successful price and income stabilization and the achievement of improved food security under Turkish conditions are associated neither with self-sufficiency in wheat production nor with storage and movement of wheat by TMO rules.
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