Agricultural policy reports; review of agricultural policies in OECD member countries 1980-1982
In the period since 1980, OECD economies have been in recession, following the second oil shock in 1979. Economic growth has been very low and unemployment levels have risen sharply. Inflaction rates reached very high levels in the early part of this period but had fallen to much lower levels by the end of 1982. Actual Government budget deficits increased over the period. The period has also been characterised by sharp fluctuations in exchange rates. During this period there has been an even stronger cost-price squeeze on the agricultural sector than in the preceding years. Some farmers reacted to this squeeze by increasing output and, when combined with stagnant consumer food demand, the result was an aggravation of the downward pressure on farm prices and declines in real farm incomes in most countries. The recession also slowed the long-term outflow of labour from the agricultural sector. The agricultural component of the Consumer Price Index exerted a moderaing influence on overall price increases over the period. A modest economic recovery is expected to begin in mid 1983; but the agricultural sector will have to face further structural adjustment
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| Format: | Texto biblioteca |
| Language: | eng |
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París (Francia)
1983
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| Summary: | In the period since 1980, OECD economies have been in recession, following the second oil shock in 1979. Economic growth has been very low and unemployment levels have risen sharply. Inflaction rates reached very high levels in the early part of this period but had fallen to much lower levels by the end of 1982. Actual Government budget deficits increased over the period. The period has also been characterised by sharp fluctuations in exchange rates. During this period there has been an even stronger cost-price squeeze on the agricultural sector than in the preceding years. Some farmers reacted to this squeeze by increasing output and, when combined with stagnant consumer food demand, the result was an aggravation of the downward pressure on farm prices and declines in real farm incomes in most countries. The recession also slowed the long-term outflow of labour from the agricultural sector. The agricultural component of the Consumer Price Index exerted a moderaing influence on overall price increases over the period. A modest economic recovery is expected to begin in mid 1983; but the agricultural sector will have to face further structural adjustment |
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