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Potential Implications of a Special Safeguard Mechanism in the World Trade Organization : The Case of Wheat

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creativeworkseries.issn1564-698X
dc.contributor.authorHertel, Thomas W.
dc.contributor.authorMartin, Will
dc.contributor.authorLeister, Amanda M.
dc.date.accessioned2012-03-30T07:12:38Z
dc.date.available2012-03-30T07:12:38Z
dc.date.issued2010-08-30
dc.description.abstractThe special safeguard mechanism—both quantity- and price-based—was key in the July 2008 failure to reach agreement in the World Trade Organization negotiations under the Doha Development Agenda. A stochastic simulation model of the world wheat market is used to investigate the effects of the special safeguard mechanism. As expected, the quantity-based safeguard is found to reduce imports, raise domestic prices, and boost mean domestic production in the countries that implement it. However, rather than insulating developing countries in those regions from price volatility, the quantity-based safeguard increases domestic price volatility, largely by restricting imports when domestic output is low and prices are high. The quantity-based safeguard shrinks average wheat imports nearly 50 percent in some regions, and global wheat trade falls by 4.7 percent. The price-based safeguard discriminates against lower price exporters and contributes to producer price instability.en
dc.identifier.citationWorld Bank Economic Review
dc.identifier.doi10.1596/4524
dc.identifier.issn1564-698X
dc.identifier.urihttps://hdl.handle.net/10986/4524
dc.publisherWorld Bank
dc.relation.ispartofseriesWorld Bank Economic Review
dc.rightsCC BY-NC-ND 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/igo
dc.subjectaverage price
dc.subjectcommodity prices
dc.subjectcompetitiveness
dc.subjectdomestic market
dc.subjectinternational markets
dc.subjectmarket price
dc.subjectmarket volatility
dc.subjectprice adjustment
dc.subjectprice changes
dc.subjectprice variations
dc.subjectprice volatility
dc.subjectproducer price
dc.subjectproducer prices
dc.subjectsale
dc.subjectsubstitution
dc.subjectsupplier
dc.subjectsuppliers
dc.subjectsupply curve
dc.subjectworld market
dc.subjectworld markets
dc.titlePotential Implications of a Special Safeguard Mechanism in the World Trade Organization : The Case of Wheaten
dc.typeJournal Articleen
dc.typeArticle de journalfr
dc.typeArtículo de revistaes
dspace.entity.typePublication
okr.crosscuttingsolutionareaClimate Change
okr.date.doiregistration2025-05-06T10:59:54.680920Z
okr.doctypeJournal Article
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeGovernance
okr.globalpracticeFinance and Markets
okr.globalpracticeTrade and Competitiveness
okr.identifier.report2
okr.language.supporteden
okr.pagenumber330
okr.pagenumber359
okr.pdfurlwber_24_2_330.pdfen
okr.peerreviewAcademic Peer Review
okr.region.countryAustralia
okr.topicInternational Economics and Trade
okr.topicPublic Sector Development
okr.topicMacroeconomics and Economic Growth::Markets and Market Access
okr.topicMacroeconomics and Economic Growth::Climate Change Economics
okr.topicPrivate Sector Development::Emerging Markets
okr.topicInternational Economics and Trade::Trade Policy
okr.topicInternational Economics and Trade::Access to Markets
okr.volume24
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relation.isAuthorOfPublication.latestForDiscoveryd6af18a6-3a50-5065-99ee-20853402f262
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relation.isJournalOfPublicationc41eae2f-cf94-449d-86b7-f062aebe893f
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