New OECD publications have been uploaded to the OECD iLibrary, a comprehensive digital repository of books, papers, and statistics from the Organisation for Economic Cooperation and Development (OECD). Titles recently added include:
The money easing policy in the past decade incurred a significant impact on food prices through channels of both demand and supply, and leads to a problem of welfare distribution in China. Through the construction of a theoretical model, this paper empirically studies the impact of money supply on 7 major food products in China. We find that except for the price of rice which is stable and the price of wheat flour which slightly increases, all other food prices including soybean oil, poultry meat, pork, beef and mutton, decline in response to money expansion. This mainly results from a relatively larger stimulating effect of money expansion on supply to that on demand. The governments should make precautionary policies to protect farmers from welfare loss.
This article offers an empirical analysis of the proposal by some developing countries for an agricultural Special Safeguard Mechanism (SSM) in the World Trade Organization. It draws on political economy and market theory to demonstrate that the loss-averting domestic producer benefits that proponents believe the SSM would offer agricultural-importing developing countries may be illusory, insofar as agricultural-exporting countries also seek to avert producer losses.
The Economist Intelligence Unit’s forecast of global rice consumption in 2013/14 is placed at 472m tonnes. While representing a slower rate of expansion when compared with the previous two years, growth of 1.5% year on year would still take world use to a new record, centred mainly on modest increases in much of Asia, and particularly India, against a background of comfortable supplies. This helps to compensate for limited growth prospects in China, where, despite the heavy imports of the past two years, consumption is expected to show little change in 2013/14 and to edge lower in future years. Moreover, with uptake in the world’s largest consumer set to fall as rising incomes lead to a further shift to more protein-rich diets, the expansion of world demand is likely to moderate in future years, but is still set to reach a record of 477m tonnes in 2014/15.