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| Author: | Weyerbrock, S. |
| Title: | Reform of the European Union's Common Agricultural Policy: How to reach GATT-compatibility ? |
| Journal: | European Economic Review
1998 : FEB, VOL. 42:2, p. 375-411 |
| Index terms: | EUROPEAN UNION COMMON AGRICULTURAL POLICY GATT TRADE POLICY |
| Language: | eng |
| Abstract: | The paper studies the reform of the European Union's (EU) Common Agricultural Policy (or CAP). It examines three questions: 1. Do current reforms meet the targets specified in the Uruquay Round Agreement ? 2. What additional reforms are needed to make CAP compatible for GATT ? 3. Does CAP reform alleviate the EU's budgetary problem ? To investigate these issues, a six-region, 13-sector computable general equilibrium model is used. It is found that CAP reform worsens the EU's budgetary situation and does not meet the GATT targets. Support price reductions and quota increases needed to reach the targets are quantified. |
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