Agricultural Price Distortions, Inequality, and Poverty

The prices of farm products are crucial determinants of the extent of poverty and inequality in the world. The vast majority of the world's poorest households depend to a considerable extent on farming for their incomes, while food represents a large component of the consumption of all poor households. For generations, food prices have been heavily distorted by government policies in high-income and developing countries. Many countries began to reform their agricultural price and trade poli...