Seasonal rice price variation in the Philippines: measuring the effects of government intervention
Bouis, H.E.
Extract: Working's anticipatory price model is used to show that uncertainty about the timing of government rice imports was the principal cause of variation in seasonal price changes in the Philippine rice market from 1961 to 1973. Increased government intervention in the domestic marketing of rice after 1973 has substantially reduced this variability. However, in light of the evidence presented that the rice market operates efficiently in the absence of government controls, much the same price objectives may be met through reduced government intervention at lower cost.
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