Global Food Price Inflation : Implications for South Asia, Policy Reactions, and Future Challenges

The surge in global commodity prices of the past few years has presented a tremendous development challenge for South Asian countries. The large loss of income from the terms of trade shock has worsened macroeconomic balances, fueled rapid inflatio...

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Bibliographic Details
Main Author: Ahmed, Sadiq
Format: Policy Research Working Paper
Language:English
Published: Washington, DC: World Bank 2012
Subjects:
EGS
GDP
WFP
Online Access:http://documents.worldbank.org/curated/en/2008/12/10115780/global-food-price-inflation-implications-south-asia-policy-reactions-future-challenges
http://hdl.handle.net/10986/6338
id okr-10986-6338
recordtype oai_dc
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic ADVERSE CONSEQUENCES
ADVERSE EFFECT
ADVERSE EFFECTS
AGRICULTURAL PRODUCTIVITY
AGRICULTURE
AVERAGE PRICE
AVERAGE PRICES
AVERAGE PRODUCTIVITY
BASIC NEEDS
BINDING CONSTRAINT
BUFFER STOCKS
BUTTER
CALORIE INTAKE
CAPITAL INFLOWS
CASH CROPS
CASH TRANSFER PROGRAMS
CASH TRANSFERS
CEREALS
CHRONIC POVERTY
CIVIL WAR
CLIMATE CHANGE
COMMODITIES
COMMODITY
COMMODITY PRICE
COMMODITY PRICES
COMPARATIVE ADVANTAGE
COMPREHENSIVE STRATEGY
CONSUMERS
CONSUMPTION BEHAVIOR
COST INCREASE
CROP INSURANCE
CROP LOSSES
CURRENCY
CURRENT ACCOUNT BALANCE
DEBT
DEMAND MANAGEMENT
DEVELOPING COUNTRIES
DOMESTIC MARKET
DOMESTIC PRICE
DOMESTIC PRICES
DROUGHT
ECONOMIC DEVELOPMENT
ECONOMIC EFFICIENCY
ECONOMIC SHOCKS
EDIBLE OILS
EGS
ELASTICITY
EMERGING MARKETS
EMPLOYMENT GUARANTEE SCHEME
EMPLOYMENT GUARANTEE SCHEMES
EMPLOYMENT RATIONING
ENERGY PRICES
EXPENDITURE
EXPENDITURES
FAIR
FARM HOUSEHOLDS
FARM PRODUCTION
FARM PRODUCTIVITY
FARM TECHNOLOGY
FARMERS
FINANCIAL CRISIS
FISCAL DEFICIT
FISCAL DEFICITS
FISCAL POLICY
FLOUR MILLS
FOOD AVAILABILITY
FOOD CONSUMPTION
FOOD CROP
FOOD CROPS
FOOD DISTRIBUTION
FOOD EXPORTS
FOOD FOR WORK
FOOD GRAINS
FOOD ITEMS
FOOD MARKETS
FOOD POLICY
FOOD PRICE
FOOD PRICE INFLATION
FOOD PRICES
FOOD PRODUCTION
FOOD PRODUCTS
FOOD RATIONS
FOOD SECURITY
FOOD SHORTAGES
FOOD STOCKS
FOOD-FOR-EDUCATION
GDP
GLOBAL ECONOMY
GLOBAL MARKET
GLOBAL PUBLIC GOODS
GLOBAL STANDARDS
GOVERNMENT BUDGET
GOVERNMENT INTERVENTION
GRAIN PRODUCTION
GROWTH RATE
GROWTH RATES
HEDGE FUND
IFPRI
INCOME
INCOME GROUP
INCOME INEQUALITY
INCOMES
INEFFICIENCY
INFLATION RATE
INFLATION RATES
INFLATIONARY PRESSURE
INFLATIONARY PRESSURES
INPUT PRICES
IRRIGATION
LAND PRODUCTIVITY
LANDHOLDINGS
MACROECONOMIC POLICIES
MAIZE
MARKET EXPECTATIONS
MARKET PRICE
MARKET PRICES
MONETARY POLICIES
MONETARY POLICY
NATIONAL POVERTY
NATURAL DISASTERS
OUTPUT
OUTPUTS
PADDY
PER CAPITA CONSUMPTION
PETROLEUM PRICES
POLITICAL ECONOMY
POOR
POOR COUNTRIES
POOR HOUSEHOLD
POOR PEOPLE
POVERTY ASSESSMENT
POVERTY ESTIMATES
POVERTY HEAD
POVERTY HEADCOUNT RATE
POVERTY IMPACT
POVERTY LINE
POVERTY RATES
POVERTY REDUCTION
POVERTY REDUCTION STRATEGIES
POVERTY REDUCTION STRATEGY
PRICE CAP
PRICE CONTROLS
PRICE EFFECT
PRICE INCREASE
PRICE INCREASES
PRICE INDEX
PRICE STABILIZATION
PRICE SUPPORT
PRICE TREND
PRICE TRENDS
PRICE VOLATILITY
PRICING POLICIES
PRICING POLICY
PRODUCER PRICE
PRODUCTION OF WHEAT
PRODUCTIVITY
PUBLIC POLICY
PUBLIC SAFETY NET
PUBLIC SPENDING
PURCHASING
PURCHASING POWER
RAPID ECONOMIC GROWTH
RAPID GROWTH
RATE OF GROWTH
RENT SEEKING
RETAIL
RETAIL PRICE
RICE
RISK REDUCTION
RURAL
RURAL EMPLOYMENT
RURAL HOUSEHOLDS
RURAL INFRASTRUCTURE
RURAL POOR
RURAL POOR HOUSEHOLDS
RURAL ROADS
SAFETY NET
SAFETY NET MEASURES
SAFETY NET PROGRAMS
SAFETY NET SYSTEMS
SAFETY NETS
SALE
SALES
SCHOOL FEEDING
SCHOOL FEEDING PROGRAMS
SEAFOOD
SECURITY CONCERNS
SELF TARGETING
SOCIAL IMPACTS
SOCIAL PROTECTION
SOCIAL SAFETY NET
STABILIZATION POLICIES
STAPLE FOODS
STOCK MANAGEMENT
SUPPLIERS
SURPLUS
TARGETING
TRADE BALANCE
TRADE BARRIERS
TRADE OPPORTUNITIES
TRADE POLICIES
TRADE POLICY
TRADE REFORMS
VALUE ADDED
WAGES
WFP
WHEAT
WHEAT FLOUR
WORLD DEVELOPMENT INDICATORS
WORLD FOOD PROGRAM
WORLD MARKET
spellingShingle ADVERSE CONSEQUENCES
ADVERSE EFFECT
ADVERSE EFFECTS
AGRICULTURAL PRODUCTIVITY
AGRICULTURE
AVERAGE PRICE
AVERAGE PRICES
AVERAGE PRODUCTIVITY
BASIC NEEDS
BINDING CONSTRAINT
BUFFER STOCKS
BUTTER
CALORIE INTAKE
CAPITAL INFLOWS
CASH CROPS
CASH TRANSFER PROGRAMS
CASH TRANSFERS
CEREALS
CHRONIC POVERTY
CIVIL WAR
CLIMATE CHANGE
COMMODITIES
COMMODITY
COMMODITY PRICE
COMMODITY PRICES
COMPARATIVE ADVANTAGE
COMPREHENSIVE STRATEGY
CONSUMERS
CONSUMPTION BEHAVIOR
COST INCREASE
CROP INSURANCE
CROP LOSSES
CURRENCY
CURRENT ACCOUNT BALANCE
DEBT
DEMAND MANAGEMENT
DEVELOPING COUNTRIES
DOMESTIC MARKET
DOMESTIC PRICE
DOMESTIC PRICES
DROUGHT
ECONOMIC DEVELOPMENT
ECONOMIC EFFICIENCY
ECONOMIC SHOCKS
EDIBLE OILS
EGS
ELASTICITY
EMERGING MARKETS
EMPLOYMENT GUARANTEE SCHEME
EMPLOYMENT GUARANTEE SCHEMES
EMPLOYMENT RATIONING
ENERGY PRICES
EXPENDITURE
EXPENDITURES
FAIR
FARM HOUSEHOLDS
FARM PRODUCTION
FARM PRODUCTIVITY
FARM TECHNOLOGY
FARMERS
FINANCIAL CRISIS
FISCAL DEFICIT
FISCAL DEFICITS
FISCAL POLICY
FLOUR MILLS
FOOD AVAILABILITY
FOOD CONSUMPTION
FOOD CROP
FOOD CROPS
FOOD DISTRIBUTION
FOOD EXPORTS
FOOD FOR WORK
FOOD GRAINS
FOOD ITEMS
FOOD MARKETS
FOOD POLICY
FOOD PRICE
FOOD PRICE INFLATION
FOOD PRICES
FOOD PRODUCTION
FOOD PRODUCTS
FOOD RATIONS
FOOD SECURITY
FOOD SHORTAGES
FOOD STOCKS
FOOD-FOR-EDUCATION
GDP
GLOBAL ECONOMY
GLOBAL MARKET
GLOBAL PUBLIC GOODS
GLOBAL STANDARDS
GOVERNMENT BUDGET
GOVERNMENT INTERVENTION
GRAIN PRODUCTION
GROWTH RATE
GROWTH RATES
HEDGE FUND
IFPRI
INCOME
INCOME GROUP
INCOME INEQUALITY
INCOMES
INEFFICIENCY
INFLATION RATE
INFLATION RATES
INFLATIONARY PRESSURE
INFLATIONARY PRESSURES
INPUT PRICES
IRRIGATION
LAND PRODUCTIVITY
LANDHOLDINGS
MACROECONOMIC POLICIES
MAIZE
MARKET EXPECTATIONS
MARKET PRICE
MARKET PRICES
MONETARY POLICIES
MONETARY POLICY
NATIONAL POVERTY
NATURAL DISASTERS
OUTPUT
OUTPUTS
PADDY
PER CAPITA CONSUMPTION
PETROLEUM PRICES
POLITICAL ECONOMY
POOR
POOR COUNTRIES
POOR HOUSEHOLD
POOR PEOPLE
POVERTY ASSESSMENT
POVERTY ESTIMATES
POVERTY HEAD
POVERTY HEADCOUNT RATE
POVERTY IMPACT
POVERTY LINE
POVERTY RATES
POVERTY REDUCTION
POVERTY REDUCTION STRATEGIES
POVERTY REDUCTION STRATEGY
PRICE CAP
PRICE CONTROLS
PRICE EFFECT
PRICE INCREASE
PRICE INCREASES
PRICE INDEX
PRICE STABILIZATION
PRICE SUPPORT
PRICE TREND
PRICE TRENDS
PRICE VOLATILITY
PRICING POLICIES
PRICING POLICY
PRODUCER PRICE
PRODUCTION OF WHEAT
PRODUCTIVITY
PUBLIC POLICY
PUBLIC SAFETY NET
PUBLIC SPENDING
PURCHASING
PURCHASING POWER
RAPID ECONOMIC GROWTH
RAPID GROWTH
RATE OF GROWTH
RENT SEEKING
RETAIL
RETAIL PRICE
RICE
RISK REDUCTION
RURAL
RURAL EMPLOYMENT
RURAL HOUSEHOLDS
RURAL INFRASTRUCTURE
RURAL POOR
RURAL POOR HOUSEHOLDS
RURAL ROADS
SAFETY NET
SAFETY NET MEASURES
SAFETY NET PROGRAMS
SAFETY NET SYSTEMS
SAFETY NETS
SALE
SALES
SCHOOL FEEDING
SCHOOL FEEDING PROGRAMS
SEAFOOD
SECURITY CONCERNS
SELF TARGETING
SOCIAL IMPACTS
SOCIAL PROTECTION
SOCIAL SAFETY NET
STABILIZATION POLICIES
STAPLE FOODS
STOCK MANAGEMENT
SUPPLIERS
SURPLUS
TARGETING
TRADE BALANCE
TRADE BARRIERS
TRADE OPPORTUNITIES
TRADE POLICIES
TRADE POLICY
TRADE REFORMS
VALUE ADDED
WAGES
WFP
WHEAT
WHEAT FLOUR
WORLD DEVELOPMENT INDICATORS
WORLD FOOD PROGRAM
WORLD MARKET
Ahmed, Sadiq
Global Food Price Inflation : Implications for South Asia, Policy Reactions, and Future Challenges
geographic_facet South Asia
relation Policy Research Working Paper; No. 4796
description The surge in global commodity prices of the past few years has presented a tremendous development challenge for South Asian countries. The large loss of income from the terms of trade shock has worsened macroeconomic balances, fueled rapid inflation, and hurt growth. Although commodity prices have come down recently, the benefits are being clouded by the emergence of a severe global financial crisis. The adverse consequences of the food price hike for the poor are large; the global financial crisis could further worsen the situation due to falling economic opportunities and government revenues. South Asian countries need to accelerate reforms to avoid facing a serious downturn in economic activity, investment, exports, and income. Governments in South Asia have responded by stabilizing domestic food prices through a number of short-term measures, tightened monetary policy to reduce inflation, and increased spending on a range of safety net programs for the poor. Some of the policies employed, such as export bans, are not consistent with the long-term welfare of the country or the region. Safety net interventions need to be made consistent with a longer-term poverty reduction strategy and fiscal sustainability. Most importantly, policy attention now needs to shift toward efforts to increase farm productivity, improve rural infrastructure, and lower the vulnerability of the poor.
format Publications & Research :: Policy Research Working Paper
author Ahmed, Sadiq
author_facet Ahmed, Sadiq
author_sort Ahmed, Sadiq
title Global Food Price Inflation : Implications for South Asia, Policy Reactions, and Future Challenges
title_short Global Food Price Inflation : Implications for South Asia, Policy Reactions, and Future Challenges
title_full Global Food Price Inflation : Implications for South Asia, Policy Reactions, and Future Challenges
title_fullStr Global Food Price Inflation : Implications for South Asia, Policy Reactions, and Future Challenges
title_full_unstemmed Global Food Price Inflation : Implications for South Asia, Policy Reactions, and Future Challenges
title_sort global food price inflation : implications for south asia, policy reactions, and future challenges
publisher Washington, DC: World Bank
publishDate 2012
url http://documents.worldbank.org/curated/en/2008/12/10115780/global-food-price-inflation-implications-south-asia-policy-reactions-future-challenges
http://hdl.handle.net/10986/6338
_version_ 1764399907313025024
spelling okr-10986-63382021-04-23T14:02:30Z Global Food Price Inflation : Implications for South Asia, Policy Reactions, and Future Challenges Ahmed, Sadiq ADVERSE CONSEQUENCES ADVERSE EFFECT ADVERSE EFFECTS AGRICULTURAL PRODUCTIVITY AGRICULTURE AVERAGE PRICE AVERAGE PRICES AVERAGE PRODUCTIVITY BASIC NEEDS BINDING CONSTRAINT BUFFER STOCKS BUTTER CALORIE INTAKE CAPITAL INFLOWS CASH CROPS CASH TRANSFER PROGRAMS CASH TRANSFERS CEREALS CHRONIC POVERTY CIVIL WAR CLIMATE CHANGE COMMODITIES COMMODITY COMMODITY PRICE COMMODITY PRICES COMPARATIVE ADVANTAGE COMPREHENSIVE STRATEGY CONSUMERS CONSUMPTION BEHAVIOR COST INCREASE CROP INSURANCE CROP LOSSES CURRENCY CURRENT ACCOUNT BALANCE DEBT DEMAND MANAGEMENT DEVELOPING COUNTRIES DOMESTIC MARKET DOMESTIC PRICE DOMESTIC PRICES DROUGHT ECONOMIC DEVELOPMENT ECONOMIC EFFICIENCY ECONOMIC SHOCKS EDIBLE OILS EGS ELASTICITY EMERGING MARKETS EMPLOYMENT GUARANTEE SCHEME EMPLOYMENT GUARANTEE SCHEMES EMPLOYMENT RATIONING ENERGY PRICES EXPENDITURE EXPENDITURES FAIR FARM HOUSEHOLDS FARM PRODUCTION FARM PRODUCTIVITY FARM TECHNOLOGY FARMERS FINANCIAL CRISIS FISCAL DEFICIT FISCAL DEFICITS FISCAL POLICY FLOUR MILLS FOOD AVAILABILITY FOOD CONSUMPTION FOOD CROP FOOD CROPS FOOD DISTRIBUTION FOOD EXPORTS FOOD FOR WORK FOOD GRAINS FOOD ITEMS FOOD MARKETS FOOD POLICY FOOD PRICE FOOD PRICE INFLATION FOOD PRICES FOOD PRODUCTION FOOD PRODUCTS FOOD RATIONS FOOD SECURITY FOOD SHORTAGES FOOD STOCKS FOOD-FOR-EDUCATION GDP GLOBAL ECONOMY GLOBAL MARKET GLOBAL PUBLIC GOODS GLOBAL STANDARDS GOVERNMENT BUDGET GOVERNMENT INTERVENTION GRAIN PRODUCTION GROWTH RATE GROWTH RATES HEDGE FUND IFPRI INCOME INCOME GROUP INCOME INEQUALITY INCOMES INEFFICIENCY INFLATION RATE INFLATION RATES INFLATIONARY PRESSURE INFLATIONARY PRESSURES INPUT PRICES IRRIGATION LAND PRODUCTIVITY LANDHOLDINGS MACROECONOMIC POLICIES MAIZE MARKET EXPECTATIONS MARKET PRICE MARKET PRICES MONETARY POLICIES MONETARY POLICY NATIONAL POVERTY NATURAL DISASTERS OUTPUT OUTPUTS PADDY PER CAPITA CONSUMPTION PETROLEUM PRICES POLITICAL ECONOMY POOR POOR COUNTRIES POOR HOUSEHOLD POOR PEOPLE POVERTY ASSESSMENT POVERTY ESTIMATES POVERTY HEAD POVERTY HEADCOUNT RATE POVERTY IMPACT POVERTY LINE POVERTY RATES POVERTY REDUCTION POVERTY REDUCTION STRATEGIES POVERTY REDUCTION STRATEGY PRICE CAP PRICE CONTROLS PRICE EFFECT PRICE INCREASE PRICE INCREASES PRICE INDEX PRICE STABILIZATION PRICE SUPPORT PRICE TREND PRICE TRENDS PRICE VOLATILITY PRICING POLICIES PRICING POLICY PRODUCER PRICE PRODUCTION OF WHEAT PRODUCTIVITY PUBLIC POLICY PUBLIC SAFETY NET PUBLIC SPENDING PURCHASING PURCHASING POWER RAPID ECONOMIC GROWTH RAPID GROWTH RATE OF GROWTH RENT SEEKING RETAIL RETAIL PRICE RICE RISK REDUCTION RURAL RURAL EMPLOYMENT RURAL HOUSEHOLDS RURAL INFRASTRUCTURE RURAL POOR RURAL POOR HOUSEHOLDS RURAL ROADS SAFETY NET SAFETY NET MEASURES SAFETY NET PROGRAMS SAFETY NET SYSTEMS SAFETY NETS SALE SALES SCHOOL FEEDING SCHOOL FEEDING PROGRAMS SEAFOOD SECURITY CONCERNS SELF TARGETING SOCIAL IMPACTS SOCIAL PROTECTION SOCIAL SAFETY NET STABILIZATION POLICIES STAPLE FOODS STOCK MANAGEMENT SUPPLIERS SURPLUS TARGETING TRADE BALANCE TRADE BARRIERS TRADE OPPORTUNITIES TRADE POLICIES TRADE POLICY TRADE REFORMS VALUE ADDED WAGES WFP WHEAT WHEAT FLOUR WORLD DEVELOPMENT INDICATORS WORLD FOOD PROGRAM WORLD MARKET The surge in global commodity prices of the past few years has presented a tremendous development challenge for South Asian countries. The large loss of income from the terms of trade shock has worsened macroeconomic balances, fueled rapid inflation, and hurt growth. Although commodity prices have come down recently, the benefits are being clouded by the emergence of a severe global financial crisis. The adverse consequences of the food price hike for the poor are large; the global financial crisis could further worsen the situation due to falling economic opportunities and government revenues. South Asian countries need to accelerate reforms to avoid facing a serious downturn in economic activity, investment, exports, and income. Governments in South Asia have responded by stabilizing domestic food prices through a number of short-term measures, tightened monetary policy to reduce inflation, and increased spending on a range of safety net programs for the poor. Some of the policies employed, such as export bans, are not consistent with the long-term welfare of the country or the region. Safety net interventions need to be made consistent with a longer-term poverty reduction strategy and fiscal sustainability. Most importantly, policy attention now needs to shift toward efforts to increase farm productivity, improve rural infrastructure, and lower the vulnerability of the poor. 2012-05-24T14:24:35Z 2012-05-24T14:24:35Z 2008-12 http://documents.worldbank.org/curated/en/2008/12/10115780/global-food-price-inflation-implications-south-asia-policy-reactions-future-challenges http://hdl.handle.net/10986/6338 English Policy Research Working Paper; No. 4796 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC: World Bank Publications & Research :: Policy Research Working Paper Publications & Research South Asia