International Agribusiness Policy Analysis in the 21st Century

Elizabeth Anne Dufour, P. Lynn Kennedy, Hector O. Zapata

http://ifama.org/tamu/iama/conferences/2006Conference/Symposium%20Presentations/Martin%20Fierro%201/Martin%20Fierro%201/S3_MF1/S3_MF1_1055_Kennedy.pdf

Abstract
The purpose of this paper is to provide agribusiness decision makers with a comprehensive guide to current agricultural policy scenarios and the impact such policies will have on commodities and value-added agricultural goods. Through a review of econometric time series literature over the course of the last twenty years, agribusiness policy analysis is summarized through an examination of partial and general equilibrium models, gravity models, Armington trade models, and CGE scenarios. Unit roots, cointegration, nonstationarity, Granger causality, and error correction models are summarized along with the derived implications concerning current and constantly evolving policy scenarios.

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