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Policy-related Transaction Costs and Policy Choice
| Content Provider | OECD iLibrary |
|---|---|
| Organization | OECD |
| Abstract | As explained in the introduction, the question of PRTCs in policy choice arises from concerns that moving from direct market interventions to new forms of targeted and decoupled agricultural policies leads to implementation costs that might outweigh the benefits. This chapter examines the role of PRTCs in defining the most cost-effective and efficient policy option for achieving given policy objectives. Section 2.2 provides a framework for comparing policy options in the context of policy reform that includes a move away from production-linked support towards measures that are more decoupled from commodity production and better targeted to specific policy objectives and beneficiaries. The main economic issues raised when trying to compare policies are highlighted. Scenarios illustrating them are presented. Section 2.3 considers policies that pursue correction of market failures relating to nature, environment and rural viability, while Section 2.4 considers policies with multiple objectives. Finally, agricultural policies with income objectives are considered in Section 2.5. |
| Page Count | 25 |
| Starting Page | 47 |
| Ending Page | 66 |
| Language | English |
| Publisher | OECD Publishing |
| Publisher Date | 2007-04-03 |
| Access Restriction | Open |
| Subject Keyword | Agriculture and Food |
| Content Type | Text |
| Resource Type | Chapter |
