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WTO and Developed Countries Farm Policies
Abstract
The present study seeks to analyze the dimensions of the developed countries’ agricultural policies vis-à-vis WTO’s agreement on agriculture provisions. The analysis indicates that domestic support to farmers in some developed countries in terms of percentage of value of agricultural output has not come down during the post WTO phase. The current AoA has failed to generate a fair and free world trade in agricultural commodities. A binding timetable should introduce for real cut in total agricultural support in order to increase the growth pace of the world farm trade.
The present study investigates the impact of renewable and non-renewable energy use on economic growth in India within the energy consumption–growth framework over the period 1971-2012 using a multivariate model wherein trade openness and financial development are included as additional variables. Empirical evidence confirms the existence of a long run equilibrium relationship among the competing variables. The results indicate that non-renewable energy consumption has a long run significant positive effect on India's economic growth. In addition, it is shown that a bidirectional causality exists between non-renewable energy use and economic growth in both the long run and short run. Based on the findings, it is suggested that a non-renewable energy conservation policy may retard economic growth in India if initiated without due regard to renewable energy sources.
Why are major raw milk producers not major exporters of dairy products? How do globalization, trade liberalization and the World Trade Organization (WTO) regime affect the pattern and trends in the world dairy production and trade? Which countries supply the most exports of dairy products? Which countries are buying their exports? What is the value of these exports and which countries are the largest buyers? With the globalization of dairy market, stakeholders can no longer be contented with a local view. These are some of the questions answered in this book. The book “Globalization and Dairy Industry” provides an authoritative analysis of the impact of the WTO on the growth of the world dairy production and trade, and helps the reader approach a conclusion on the likely direction of these effects. In order to draw the policy lessons from the growth experiences of the world's largest dairy processor: USA, net exporter: New Zealand and forerunner in milk production: China, the basic characteristics of their dairy industry are studied. An especial emphasis is placed on the investigation of the performance and prospects of dairy industry of the world's largest milk producer: India. To this end, the extent and factors affecting productivity, efficiency and competitiveness of Indian dairy industry are thoroughly analyzed. Subsequently, it evaluates the government policies and programmes launched in India for the development of dairy industry.
Finally, the present work also illustrates how globalization, if not accompanied with suitable reforms in the domestic market, can turn opportunities into threats. The book is of paramount importance for all those interested in various contemporary issues in dairy.
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