Climate sustainability has become a key issue of our time. Measures protecting the environment, however, can have an impact on the competitiveness of domestic firms and on cross-border trade. Therefore, regulatory bod...Climate sustainability has become a key issue of our time. Measures protecting the environment, however, can have an impact on the competitiveness of domestic firms and on cross-border trade. Therefore, regulatory bodies should enlarge the scope of their policies and treat climate sustainability as global public good; based on such concept trade rules are to be designed in a way that allows a fair balancing between the diverse interests.展开更多
During the COVID-19 pandemic,countries applied trade restrictions to insulate their domestic markets from the world market.However,these trade policies could have amplified international market price fluctuations.This...During the COVID-19 pandemic,countries applied trade restrictions to insulate their domestic markets from the world market.However,these trade policies could have amplified international market price fluctuations.This paper explores the effects of trade restrictions on international agricultural price volatility.A theoretical model is developed to quantify how trade policies amplify the initial shock.Using panel data covering 71 countries from January 2020 to July 2021,we examine empirically the effects of trade policies on world agricultural price volatility.The results show that trade distortions further induced volatility of world agricultural prices by around 22 percent during the COVID-19 pandemic.The multiplier effects are much more substantial in agricultural exporting countries than in importing countries.Large countries like China and the US could make significant contributions to stabilizing world prices by limiting the extent of unilateral trade policy interventions.展开更多
文摘Climate sustainability has become a key issue of our time. Measures protecting the environment, however, can have an impact on the competitiveness of domestic firms and on cross-border trade. Therefore, regulatory bodies should enlarge the scope of their policies and treat climate sustainability as global public good; based on such concept trade rules are to be designed in a way that allows a fair balancing between the diverse interests.
基金funding from the National Natural Science Foundation of China(No.71903198)the Basic Research Funds for the Central Universities,Zhongnan University of Economics and Law(No.2722020JCT022)financial support from the National Natural Science Foundation of China(Nos.71773148 and 72073128).
文摘During the COVID-19 pandemic,countries applied trade restrictions to insulate their domestic markets from the world market.However,these trade policies could have amplified international market price fluctuations.This paper explores the effects of trade restrictions on international agricultural price volatility.A theoretical model is developed to quantify how trade policies amplify the initial shock.Using panel data covering 71 countries from January 2020 to July 2021,we examine empirically the effects of trade policies on world agricultural price volatility.The results show that trade distortions further induced volatility of world agricultural prices by around 22 percent during the COVID-19 pandemic.The multiplier effects are much more substantial in agricultural exporting countries than in importing countries.Large countries like China and the US could make significant contributions to stabilizing world prices by limiting the extent of unilateral trade policy interventions.
