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GTAP Resource #3040

"Impacts and Policy Responses to a commodity price boom. The case of Malawi "
by Ferrari, Emanuele, Piero Conforti and Alexander Sarris


Abstract
This work analyzes the medium term effects of the recent commodity price spike in a typical Low-Income-Food-Deficit country, Malawi, as well as a set of possible policy responses. Simulations were performed with a single-country static Computable General Equilibrium model, based on the 2004 Malawi Social Accounting Matrix provided by IFPRI, modified with data from the 2004 household budget survey. Results indicate that the increase in agricultural domestic prices was mainly driven by the raise in the cost of imported oil and chemical products. Reductions in tariff and domestic taxes, as well as subsidies on chemicals inputs, appear capable of counteracting the terms of trade shocks to some extent. However, tackling structural constraints, such as those affecting the size of agricultural marketing margins, would produce wider benefits, and improve the resilience of the economy to external shocks.


Resource Details (Export Citation) GTAP Keywords
Category: 2009 Conference Paper
Status: Published
By/In: FAO Commodity and Trade Policy Research Working Papers N. 27; Presented at the 12th Annual Conference on Global Economic Analysis, Santiago, Chile
Date: 2009
Version:
Created: Ferrari, E. (4/15/2009)
Updated: Ferrari, E. (7/8/2009)
Visits: 1,282
- Economic development
- Economic analysis of poverty
- Africa (Southern)


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