Globalization has reduced trade costs and altered agricultural trade.
(Generated with the help of GPT-4)
| Quick Facts | |
|---|---|
| Report location: | source |
| Language: | English |
| Publisher: |
the royal society |
| Authors: | Kym Anderson |
| Time horizon: | 1960 |
| Geographic focus: | Global |
The research method involved analyzing structural changes in global agricultural markets and trade since the 1960s, technological changes that have lowered trade costs for farm products, and reforms to agricultural and trade policies. The study also used economy-wide modeling to suggest likely drivers of global food and agricultural trade trends over the next four decades.
(Generated with the help of GPT-4)
Globalization has significantly impacted world agricultural trade from 1960 to 2050 by reducing cross-border trade costs, primarily due to advancements in information and communication technology and reductions in governmental distortions to agricultural production and trade. These changes have spurred economic growth and reduced poverty, particularly in Asia. Future food prices will be influenced by the continued pace of farm productivity growth, dietary shifts in emerging economies, crude oil prices affecting biofuel demand, climate change policies, water market developments, and market access standards, especially for genetically modified foods.
(Generated with the help of GPT-4)
Categories: 1960 time horizon | 1960s time horizon | English publication language | Global geographic scope | agricultural protectionism | biofuel demand | climate change | distorted incentives | farm productivity | food prices | globalization | trade costs | trade policy reforms | trade relations | transgenic foods | water markets