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Fiscal policies in highly unequal societies: implications for agricultural growth

Year of publication 2007

Author Ramón López;Agriculture and Economic Development Analysis Division

Product type Document

Edition 1

Synopsis (short abstract) The paper discusses the economic effects of misallocation of public expenditures in favor of private goods rather than public goods. It first lays out certain key hypotheses regarding the consequences of the apparent public sector allocation inefficiency and the factors that explain this phenomenon. It then discusses existing empirical evidence that lends at least indirect support to these hypotheses. Finally, it presents new empirical evidence for the rural sector in Latin America which docume nts the extent of the misallocation of public expenditures, its consequences for agricultural growth and rural poverty, and the role of certain key politico-institutional factors in explaining the misallocation.

Language English

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    Fiscal policies have multiple effects on the economy and, therefore, on the agricultural sector and rural economies within it. This paper analyzes agricultural taxes and agricultural expenditures; it also looks into different forms of public policy support for agricultural producers and follows the Producer Support Estimates (PSE) methodology already applied to the Latin America and the Caribbean (LAC) region. This methodology combines fiscal support and other forms of support, such as those deriving from trade policies. Finally, this paper presents a summary of evaluation studies about different types of public expenditure for agriculture and draws some conclusions. The document presents a description of the structure of the rural environment, demography, the supply of goods and services, the main inequalities, levels of poverty, importance and role of family agriculture and other economic activities (diversification), the main features of rural society and the presence of the private sector. It will also discuss trends in migration and other social or economic processes relevant to the description of the rural situation. The text will also discuss the importance of rural development in achieving the SDGs by identifying the current situation and the extent of change required to meet the SDGs.
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