Anatomy of a crisis: The causes and consequences of surging food prices
Although the potential causes and consequences of recent rising international food prices have attracted widespread attention, many existing appraisals are superficial and/or piecemeal. This article attempts to provide a more comprehensive review of these issues based on the best and most recent res...
| Autores principales: | , |
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| Formato: | Journal Article |
| Lenguaje: | Inglés |
| Publicado: |
Wiley
2008
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| Materias: | |
| Acceso en línea: | https://hdl.handle.net/10568/162394 |
| _version_ | 1855524983926685696 |
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| author | Headey, Derek D. Fan, Shenggen |
| author_browse | Fan, Shenggen Headey, Derek D. |
| author_facet | Headey, Derek D. Fan, Shenggen |
| author_sort | Headey, Derek D. |
| collection | Repository of Agricultural Research Outputs (CGSpace) |
| description | Although the potential causes and consequences of recent rising international food prices have attracted widespread attention, many existing appraisals are superficial and/or piecemeal. This article attempts to provide a more comprehensive review of these issues based on the best and most recent research, as well as on fresh theoretical and empirical analysis. We first analyze the causes of the current crisis by considering how well standard explanations hold up against relevant economic theory and important stylized facts. Some explanations turn out to hold up much better than others, especially rising oil prices, the depreciation of the U.S. dollar, biofuels demand, and some commodity‐specific explanations. We then provide an appraisal of the likely macro‐ and microeconomic impacts of the crisis on developing countries. We observe a large gap between macro and micro factors, which, when identifying the most vulnerable countries, often point in different directions. We conclude with a brief discussion of what ought to be learned from this crisis. |
| format | Journal Article |
| id | CGSpace162394 |
| institution | CGIAR Consortium |
| language | Inglés |
| publishDate | 2008 |
| publishDateRange | 2008 |
| publishDateSort | 2008 |
| publisher | Wiley |
| publisherStr | Wiley |
| record_format | dspace |
| spelling | CGSpace1623942025-05-19T20:23:08Z Anatomy of a crisis: The causes and consequences of surging food prices Headey, Derek D. Fan, Shenggen food prices oil and gas production prices biofuels poverty impact macroeconomic analysis agricultural policies commodity markets Although the potential causes and consequences of recent rising international food prices have attracted widespread attention, many existing appraisals are superficial and/or piecemeal. This article attempts to provide a more comprehensive review of these issues based on the best and most recent research, as well as on fresh theoretical and empirical analysis. We first analyze the causes of the current crisis by considering how well standard explanations hold up against relevant economic theory and important stylized facts. Some explanations turn out to hold up much better than others, especially rising oil prices, the depreciation of the U.S. dollar, biofuels demand, and some commodity‐specific explanations. We then provide an appraisal of the likely macro‐ and microeconomic impacts of the crisis on developing countries. We observe a large gap between macro and micro factors, which, when identifying the most vulnerable countries, often point in different directions. We conclude with a brief discussion of what ought to be learned from this crisis. 2008-11 2024-11-21T10:02:47Z 2024-11-21T10:02:47Z Journal Article https://hdl.handle.net/10568/162394 en Limited Access Wiley Headey, Derek D.; Fan, Shenggen. 2008. Anatomy of a crisis. Agricultural Economics 39(s1): 375-391. https://doi.org/10.1111/j.1574-0862.2008.00345.x |
| spellingShingle | food prices oil and gas production prices biofuels poverty impact macroeconomic analysis agricultural policies commodity markets Headey, Derek D. Fan, Shenggen Anatomy of a crisis: The causes and consequences of surging food prices |
| title | Anatomy of a crisis: The causes and consequences of surging food prices |
| title_full | Anatomy of a crisis: The causes and consequences of surging food prices |
| title_fullStr | Anatomy of a crisis: The causes and consequences of surging food prices |
| title_full_unstemmed | Anatomy of a crisis: The causes and consequences of surging food prices |
| title_short | Anatomy of a crisis: The causes and consequences of surging food prices |
| title_sort | anatomy of a crisis the causes and consequences of surging food prices |
| topic | food prices oil and gas production prices biofuels poverty impact macroeconomic analysis agricultural policies commodity markets |
| url | https://hdl.handle.net/10568/162394 |
| work_keys_str_mv | AT headeyderekd anatomyofacrisisthecausesandconsequencesofsurgingfoodprices AT fanshenggen anatomyofacrisisthecausesandconsequencesofsurgingfoodprices |