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Dispelling Some Misconceptions About Agricultural Trade Liberalization

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There has been a great deal of public discussion over the impact that agricultural trade liberalization would likely have, especially on low-income countries. Unfortunately, the public discussion has been characterized by a number of misconceptions. This paper provides a clarifying discussion of the issues involved. Among the key points addressed are 1) agricultural subsidies are not nearly as large as has been portrayed; 2) tariffs are actually far more distortionary than subsidies and some low-income countries actually benefit from rich country subsides; and 3) widespread tariff reductions will not inflict large damage on developing countries as a result of preference erosion. The case for removing agricultural trade barriers remains compelling, even without the exaggerations and misconceptions.

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‘Dispelling Some Misconceptions about Agricultural Trade Liberalization’, StephenTokarickJournal of Economic Perspectives, 22(1) (2008): 199–216. Published by American Economic Association. Reprinted with permission.

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