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book chapter

Government credit programs: Justification, benefits, and costs

Subsidized credit programs for agricultural producers have often been used to boost production in less developed countries. The "traditional" views in support of this policy instrument, as summarized by von Pischke, Adams, and Donald (1983), are that…

book chapter

Implications of food aid for price policy in recipient countries

Although it is widely believed that food aid distorts incentives to increase agricultural production, detailed empirical country studies conducted in recent years suggest that the disincentive effect of food aid has been overemphasized. An analysis of…