Optimality of Agricultural Policy Theoretical Analysis and Case Study

This study focuses on the theoretical analysis of agricultural policy under uncertainty and the rationality of agricultural producer price policy pursued with a view to economic stabilization. The findings established by W. Brainard in the 1960s regarding economic policy under uncertainty are revisited and adapted to the agricultural context. Similarly, the issue of the rationality of producer price policy aimed at stabilizing agricultural income and imports is addressed and resolved for countries whose agricultural sector has a "dual" structure (production of two goods, one exported and the other consumed locally and also imported to make up for domestic supply shortfalls). The resulting optimal theoretical prices are then used to propose and test a method for evaluating the effectiveness of agricultural producer price policy.

Pages: 56, Paperback, Our Knowledge Publishing