Agriculture and the Macroeconomy

Abstract

Based on an economywide perspective, this paper begins Dutch Disease phenomenon and agriculture.The paper wvith a discussion of the bias against exports and next examines the influence of interest rates on agriculture that characterized the economic literature and incentives in agriculture, arguing that, surprisingly, this the development strategies in many developing countries has been a neglected area in the literature.after World War II.This is followed by an analysis of The paper explores the effects on agriculture of how the macroeconomic environment affects agricultural structural adjustment programs implemented since the price incentives.Specifically, the paper discusses how early 1980s in developing countries.The final section policies concerning industrial protection, exchange rates, surveys the literature on agriculture and the and interest rates and other fiscal policies can strongly macroeconomy in industrial countries, focusing on the influence the economic incentives for agriculture impact of the exchange rate on export competitiveness in compared with other sectors, identifying the most the United States, the cost of agricultural protection for relevant literature and alternative approaches used on the overall economy in Europe and Japan, and the this issue.It then proceeds to examine how the real increased importance of fluctuations in money markets exchange rate can be affected by exogenous shocks, such for the farm sector and the additional instability they as the foreign terms of trade, with emphases on the generate.

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