The Common Agricultural Policy and its reform: the problem of reconciling budget and trade concerns

Ackrill, R ORCID: https://orcid.org/0000-0002-0739-1812, Kay, A and Morgan, W, 2008. The Common Agricultural Policy and its reform: the problem of reconciling budget and trade concerns. Canadian Journal of Agricultural Economics, 56 (4), pp. 393-411.

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Abstract

The Common Agricultural Policy, in 2008, reached its fiftieth birthday. It has been a constant presence in directing resources to the EU agricultural sector, but the means of channelling these resources have changed considerably in that time. This article charts the evolution in the principal policy instruments used and analyses the welfare effects of the major reforms implemented. It also analyses these changes in terms of the institutional context of the principal reform pressures, of international trade obligations and EU budget concerns. Both pressures are linked to the dominant policy instruments adopted initially – price support. The initial institutions, however, meant that whilst trade concerns did not lead to significant CAP reform, budget concerns did. During the late 1980s and early 1990s, however, changes to the institutional context of both trade and budget policies resulted in joint pressures forcing the EU to change fundamentally the way in which it delivered financial resources to farmers. Throughout, however, this process was never one of simple determinism: those same policy instruments established patterns of transfers that created vested interests in the status quo. The CAP must therefore be seen in the light of its institutional context and of endogenous vested interests to the policy.

Item Type:	Journal article
Alternative Title:	The CAP and the GATT/WTO: a story of mutual influence and antipathy
Description:	The definitive version is available at www3.interscience.wiley.com
Publication Title:	Canadian Journal of Agricultural Economics
Creators:	Ackrill, R., Kay, A. and Morgan, W.
Date:	2008
Volume:	56
Number:	4
Identifiers:	Number Type 10.1111/j.1744-7976.2008.00137.x DOI
Divisions:	Schools > Nottingham Business School
Record created by:	EPrints Services
Date Added:	09 Oct 2015 10:54
Last Modified:	09 Jun 2017 13:44
URI:	https://irep.ntu.ac.uk/id/eprint/19784

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