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Author: Matthias Kalkuhl
Publisher: Springer
ISBN: 3319282018
Category : Business & Economics
Languages : en
Pages : 620
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Book Description
This book provides fresh insights into concepts, methods and new research findings on the causes of excessive food price volatility. It also discusses the implications for food security and policy responses to mitigate excessive volatility. The approaches applied by the contributors range from on-the-ground surveys, to panel econometrics and innovative high-frequency time series analysis as well as computational economics methods. It offers policy analysts and decision-makers guidance on dealing with extreme volatility.
Author: Matthias Kalkuhl
Publisher: Springer
ISBN: 3319282018
Category : Business & Economics
Languages : en
Pages : 620
Get Book Here
Book Description
This book provides fresh insights into concepts, methods and new research findings on the causes of excessive food price volatility. It also discusses the implications for food security and policy responses to mitigate excessive volatility. The approaches applied by the contributors range from on-the-ground surveys, to panel econometrics and innovative high-frequency time series analysis as well as computational economics methods. It offers policy analysts and decision-makers guidance on dealing with extreme volatility.
Author: Jean-Paul Chavas
Publisher: University of Chicago Press
ISBN: 022612892X
Category : Business & Economics
Languages : en
Pages : 394
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Book Description
"The conference was organized by the three editors of this book and took place on August 15-16, 2012 in Seattle."--Preface.
Author: Per Pinstrup-Andersen
Publisher: Oxford University Press (UK)
ISBN: 0198718578
Category : Business & Economics
Languages : en
Pages : 545
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Book Description
Since 2006, global food prices have fluctuated greatly around an increasing trend and price spikes were observed for key food commodities such as rice, wheat, and maize.
Author: Joachim von Braun
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Since the 2007-08 food crisis, many thoughtful analyses have addressed the causes and impacts of high and volatile international food prices and proposed solutions to the crisis. These studies have covered global as well as local food price dynamics and policy reactions. The food price problem is, however, far-reaching, and its impacts are wide and interrelated. The price formation mechanism has become highly complex and dynamic. Policy actions are politically and economically sensitive. This situation calls for continuous and comprehensive assessments of the problem to provide timely and evidence-based knowledge for policy makers. This paper reviews existing evidence and theories and presents new thoughts and insights from analyses to enlighten the course of actions to be taken. Our review implies that the current body of literature concentrates on high food prices. Commodity price analysis should, however, differentiate between three types of price changes: trends, volatility, and spikes. While price trends are important in the long term, volatility and spikes are more important in the short to medium terms. Descriptive statistics indicate that all three price changes are increasing over time and show strong correlations among themselves. A rising medium-term price trend has triggered extreme short-term price spikes and increased volatility. An assessment of the costs of price volatility has shown that the existing literature follows a conventional marginal-cost approach that considers only few cost components. Direct and immediate components have not been adequately analyzed, and long-term effects have been overlooked. The effect on child nutrition and health is one such long-term effect. Under-nutrition in early childhood has negative consequences for lifetime earnings capacity because of the physical and mental impairment it causes. Economy wide distortions and misallocations also threaten the long-term development of commodity-dependent economies. Measuring and estimating the cost of food price volatility should factor in ongoing processes such as economic growth and technological changes. The supply, demand, and market explanations for high and volatile global prices have been differentiated as exogenous and endogenous factors. To help further identify the drivers of food price changes, they are categorized as root causes, intermediate causes, and immediate causes. Both empirical and theoretical evaluations suggest extreme weather events from the supply side, biofuel production from the demand side, and speculation in commodity futures from the market side are the three most important root causes of observed price volatility. The theoretical and empirical effects of speculation in commodity futures are not yet well understood. However, speculative trading in commodity futures should not be viewed as a random bet that can be smoothed out through the price system. It is important to consider the market and nonmarket contexts that guide the behavioral and strategic choices of speculators. Whereas speculation caused by manipulative, disorderly behaviors and "financialization" are damaging, speculation caused by demand and supply in physical markets can serve as price discovery, liquidity, and risk-hedging mechanisms. Our empirical analysis to quantify the importance of these factors shows that speculation effect is stronger than demand- and supply-side shocks for short term price spikes. Overall policy interventions at global, regional, and local levels should concentrate on reducing price spikes and protecting poor people from short- and long-term crises. The viii formulation and implementation of such policies must be supported with timely information and research-based evidence. A comprehensive portfolio of policy actions is proposed here, rather than over-extended individual measures to address the root causes or over-regulation of markets to address volatility and spikes. Evaluation of policy instruments should weigh the true costs associated with both, action versus inaction. Research must focus on developing price and food security indicators and models that will guide policy implementation also in the short run. Such models are currently missing. -- food security ; prices ; volatility ; poverty ; food policy ; speculation ; economic crises
Author: Fan, Shenggen
Publisher: Intl Food Policy Res Inst
ISBN:
Category : Social Science
Languages : en
Pages : 4
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Book Description
Volatility and spikes in global food prices can have large and diverse impacts on the welfare of poor people, particularly their food and nutrition status. Although high and volatile price levels have subsided in recent years, the international community should not become complacent. The complex set of concurrent factors behind the recent food price crises in 20072008 and 2011including diversion of crops for biofuel, extreme weather events, low grain stocks, and panicky trade behaviorsare still present or have the potential to reemerge. An important component of improving the stability of the global food system is to reduce price spikes and volatility that can destabilize future food availability and accessibility. The objective of this brief is to review the latest literature and developments related to actions taken in preventing and managing food price spikes and volatility and to identify future actions to build a more resilient global food system.
Author: Jennifer Clapp
Publisher: Wilfrid Laurier Univ. Press
ISBN: 1554581982
Category : Political Science
Languages : en
Pages : 289
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Book Description
The global food crisis is a stark reminder of the fragility of the global food system. The Global Food Crisis: Governance Challenges and Opportunities captures the debate about how to go forward and examines the implications of the crisis for food security in the world’s poorest countries, both for the global environment and for the global rules and institutions that govern food and agriculture. In this volume, policy-makers and scholars assess the causes and consequences of the most recent food price volatility and examine the associated governance challenges and opportunities, including short-term emergency responses, the ecological dimensions of the crisis, and the longer-term goal of building sustainable global food systems. The recommendations include vastly increasing public investment in small-farm agriculture; reforming global food aid and food research institutions; establishing fairer international agricultural trade rules; promoting sustainable agricultural methods; placing agriculture higher on the post-Kyoto climate change agenda; revamping biofuel policies; and enhancing international agricultural policy-making. Co-published with the Centre for International Governance Innovation
Author: Adam Prakash
Publisher: Bright Sparks
ISBN:
Category : Business & Economics
Languages : en
Pages : 620
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Book Description
A timely publication as world leaders deliberate the causes of the latest bouts of food price volatility and search for solutions that address the recent velocity of financial, economic, political, demographic, and climatic change. As a collection compiled from a diverse group of economists, analysts, traders, institutions and policy formulators - comprising multiple methodologies and viewpoints - the book exposes the impact of volatility on global food security, with particular focus on the world's most vulnerable.
Author: Jessica Duncan
Publisher: Routledge
ISBN: 1317623207
Category : Nature
Languages : en
Pages : 254
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Book Description
In 2007/8 world food prices spiked and global economic crisis set in, leaving hundreds of millions of people unable to access adequate food. The international reaction was swift. In a bid for leadership, the 123 member countries of the United Nations’ Committee on World Food Security (CFS) adopted a series of reforms with the aim of becoming the foremost international, inclusive and intergovernmental platform for food security. Central to the reform was the inclusion of participants (including civil society and the private sector) across all activities of the Committee. Drawing on data collected from policy documents, interviews and participant observation, this book examines the re-organization and functioning of a UN Committee that is coming to be known as a best practice in global governance. Framed by key challenges that plague global governance, the impact and implication of increased civil society engagement are examined by tracing policy negotiations within the CFS, in particular, policy roundtables on smallholder sensitive investment and food price volatility and negotiations on the Voluntary Guidelines on the Responsible Governance of Tenure of Land, Fisheries and Forests in the Context of National Food Security, and the Global Strategic Framework for Food Security and Nutrition. The author shows that through their participation in the Committee, civil society actors are influencing policy outcomes. Yet analysis also reveals that the CFS is being undermined by other actors seeking to gain and maintain influence at the global level. By way of this analysis, this book provides empirically-informed insights into increased participation in global governance processes.
Author: Klaus von Grebmer
Publisher: Intl Food Policy Res Inst
ISBN: 0896299341
Category : Social Science
Languages : en
Pages : 64
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Book Description
Author: Jean-Paul Chavas
Publisher: University of Chicago Press
ISBN: 022612908X
Category : Business & Economics
Languages : en
Pages : 394
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Book Description
There has been an increase in food price instability in recent years, with varied consequences for farmers, market participants, and consumers. Before policy makers can design schemes to reduce food price uncertainty or ameliorate its effects, they must first understand the factors that have contributed to recent price instability. Does it arise primarily from technological or weather-related supply shocks, or from changes in demand like those induced by the growing use of biofuel? Does financial speculation affect food price volatility? The researchers who contributed to The Economics of Food Price Volatility address these and other questions. They examine the forces driving both recent and historical patterns in food price volatility, as well as the effects of various public policies in affecting this volatility. The chapters include studies of the links between food and energy markets, the impact of biofuel policy on the level and variability of food prices, and the effects of weather-related disruptions in supply. The findings shed light on the way price volatility affects the welfare of farmers, traders, and consumers.
