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Explaining Inefficient Policy Instruments

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dc.contributor.authorde Gorter, Harry
dc.date.accessioned2017-09-11T14:50:09Z
dc.date.available2017-09-11T14:50:09Z
dc.date.issued2008-08
dc.description.abstractThe purpose of this paper is to provide an overview of the literature on the political economy of policy instrument choice and relate it to the experiences in agriculture. The paper is therefore organized as follows. The second section provides a ranking of policies as to their transfer efficiency and determines the standard of evaluation, given that no policy is perfect in achieving its goals. The third section explores why political competition does not ensure that an efficient policy instrument is chosen. The following two sections explain the two key theories: enforcement and commitment problems in section four, and information and agency problems in section five. Section six presents the important Grossman-Helpman model of inefficient policy choice that falls outside these two general theories. Section seven describes how policy instrument choice in agriculture is often a discrete outcome in response to a crisis and therefore becomes path dependent, resulting in a status quo bias. Section eight describes how trade agreements can affect policy instrument choice. The final section gives some guidance as to the outstanding issues.en
dc.identifierhttp://documents.worldbank.org/curated/en/585151468329339087/Explaining-inefficient-policy-instruments
dc.identifier.doi10.1596/28275
dc.identifier.urihttps://hdl.handle.net/10986/28275
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesAgricultural Distortions Working Paper;75
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectADJUSTMENT ASSISTANCE
dc.subjectAGENCY PROBLEMS
dc.subjectAGRICULTURE
dc.subjectALLOCATION
dc.subjectASSET VALUES
dc.subjectASYMMETRIC INFORMATION
dc.subjectAVERAGE COSTS
dc.subjectBANKS
dc.subjectBARGAINING
dc.subjectBARGAINING POWER
dc.subjectBOND
dc.subjectBUDGET DEFICIT
dc.subjectBUREAUCRACY
dc.subjectCASH PAYMENTS
dc.subjectCOLLECTIVE ACTION
dc.subjectCOMMODITIES
dc.subjectCOMMODITY
dc.subjectCOMMODITY PRICE
dc.subjectCOMMODITY PRICES
dc.subjectCOMPARATIVE ECONOMICS
dc.subjectCONSUMERS
dc.subjectCORRUPTION
dc.subjectDEMOCRACIES
dc.subjectDEPRESSION
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPMENT ECONOMICS
dc.subjectDIRECT PAYMENTS
dc.subjectDISCOUNT RATE
dc.subjectDISCRETION
dc.subjectDIVIDEND
dc.subjectDOMESTIC PRICE
dc.subjectDUMPING
dc.subjectDYNAMIC ANALYSIS
dc.subjectECONOMIC ANALYSIS
dc.subjectECONOMIC CRISIS
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC FORCES
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC HISTORY
dc.subjectECONOMIC MODELS
dc.subjectECONOMIC REFORMS
dc.subjectECONOMIC THEORY
dc.subjectECONOMICS
dc.subjectECONOMICS LITERATURE
dc.subjectEFFICIENT OUTCOMES
dc.subjectENFORCEMENT OF CONTRACTS
dc.subjectEQUILIBRIUM ANALYSIS
dc.subjectEXCHANGE RATE
dc.subjectEXPORTS
dc.subjectFOOD PRICE
dc.subjectFOOD PRICES
dc.subjectFREE MARKETS
dc.subjectFREE TRADE
dc.subjectGAME THEORY
dc.subjectGDP
dc.subjectGENERAL EQUILIBRIUM
dc.subjectGOVERNMENT ACTIONS
dc.subjectGOVERNMENT INTERVENTION
dc.subjectHARMONIZATION
dc.subjectIMPERFECT INFORMATION
dc.subjectIMPORT BARRIERS
dc.subjectIMPORT QUOTAS
dc.subjectINCOME
dc.subjectINCOME DISTRIBUTION
dc.subjectINCOME EFFECT
dc.subjectINCOME TAX
dc.subjectINCOME TAXES
dc.subjectINCOMES
dc.subjectINCREASING RETURNS
dc.subjectINCUMBENT
dc.subjectINEFFICIENCY
dc.subjectINELASTIC DEMAND
dc.subjectINFORMATION ASYMMETRIES
dc.subjectINITIATIVE
dc.subjectINSTITUTIONAL ECONOMICS
dc.subjectINSURANCE
dc.subjectINTEREST GROUP
dc.subjectINTERNATIONAL LAW
dc.subjectINTERNATIONAL ORGANIZATION
dc.subjectINTERNATIONAL TRADE
dc.subjectLABOR MARKETS
dc.subjectLABOR SUPPLY
dc.subjectLEADERSHIP
dc.subjectLEGITIMACY
dc.subjectLOBBYING
dc.subjectLUMP SUM TRANSFERS
dc.subjectMARKET CONDITIONS
dc.subjectMARKET DISTORTIONS
dc.subjectMARKET FAILURE
dc.subjectMARKET FAILURES
dc.subjectMARKET PRICE
dc.subjectMATHEMATICAL ECONOMICS
dc.subjectMONOPOLY
dc.subjectMOTIVATION
dc.subjectPATRONAGE
dc.subjectPENALTIES
dc.subjectPOLICES
dc.subjectPOLITICAL DEMOCRACY
dc.subjectPOLITICAL ECONOMY
dc.subjectPOLITICAL PARTY
dc.subjectPOLITICAL POWER
dc.subjectPOLITICAL PROCESS
dc.subjectPOLITICAL REGIME
dc.subjectPOLITICAL SCIENCE
dc.subjectPOLITICAL SYSTEM
dc.subjectPOLITICIAN
dc.subjectPOLITICIANS
dc.subjectPOLLUTION
dc.subjectPREFERENCE FUNCTIONS
dc.subjectPRICE DISCRIMINATION
dc.subjectPRICE DISTORTION
dc.subjectPRICE DISTORTIONS
dc.subjectPRICE POLICIES
dc.subjectPRIVATE SECTOR
dc.subjectPRODUCTION COSTS
dc.subjectPRODUCTIVITY
dc.subjectPROPERTY RIGHTS
dc.subjectPUBLIC GOODS
dc.subjectPUBLIC POLICIES
dc.subjectREAL WAGES
dc.subjectREMEDY
dc.subjectRENT SEEKING
dc.subjectREPUTATION
dc.subjectSAFETY
dc.subjectSAFETY NETS
dc.subjectSAVINGS
dc.subjectSETTLEMENT PROCEDURES
dc.subjectSMALL COUNTRIES
dc.subjectSOCIAL BENEFITS
dc.subjectSOCIAL COSTS
dc.subjectSTRUCTURAL CHANGE
dc.subjectSUPPLY CURVE
dc.subjectSUSTAINABLE DEVELOPMENT
dc.subjectTAX
dc.subjectTAX REVENUES
dc.subjectTAXATION
dc.subjectTOTAL OUTPUT
dc.subjectTRADE BARRIERS
dc.subjectTRADE LIBERALIZATION
dc.subjectTRADE NEGOTIATIONS
dc.subjectTRADE POLICIES
dc.subjectTRADE POLICY
dc.subjectTRADE-OFF
dc.subjectTRADES
dc.subjectTRANSACTION COSTS
dc.subjectTRANSACTIONS COSTS
dc.subjectTRANSPARENCY
dc.subjectURUGUAY ROUND
dc.subjectVOTERS
dc.subjectWAGE TAXES
dc.subjectWAGES
dc.subjectWEALTH
dc.subjectWELFARE ECONOMICS
dc.subjectWTO
dc.titleExplaining Inefficient Policy Instrumentsen
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.crossref.titleExplaining Inefficient Policy Instruments
okr.date.disclosure2010-08-06
okr.date.doiregistration2025-05-05T11:33:08.400147Z
okr.doctypePublications & Research::Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/585151468329339087/Explaining-inefficient-policy-instruments
okr.guid585151468329339087
okr.identifier.externaldocumentum000333038_20100806020557
okr.identifier.internaldocumentum12623366
okr.identifier.report55967
okr.importedtrue
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/585151468329339087/pdf/559670NWP0P0931ent1Instruments10808.pdfen
okr.sectorAgriculture, fishing, and forestry
okr.topicMacroeconomics and Economic Growth::Political Economy
okr.topicAgriculture::Agricultural Sector Economics
okr.topicAgriculture::Agricultural Trade
okr.topicInternational Economics and Trade::Trade Policy
okr.topicInternational Economics and Trade::Trade and Agriculture
okr.unitDECRG: Trade & Intl. Integration (DECTI)
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