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The United States use of "zeroing" in its antidumping procedures has become a political flash point threatening some legitimacy of the WTO's dispute settlement system. This paper provides a positive analysis of the zeroing issue, explains how it has evolved and who is likely to be affected by it. The authors use economic theory to identify how export price volatility accentuates the impact of zeroing on the size of U.S. antidumping tariffs and review the WTO caseload over zeroing. They describe the impact that the U.S.'s retrospective system for assessing antidumping margins has on zeroing and the political economy implications as the U.S. struggles to generate policy reform. The authors survey existing evidence of the impact of the zeroing on dumping margins and contribute their own evidence to suggest that zeroing is just as likely to impact the size of U.S. antidumping duties applied on developing country exports as developed economy exports. Thus while developed economies have filed the vast majority of WTO disputes against the U.S. over zeroing, the authors conclude that zeroing is also likely a relevant issue for developing country exporters as over 60 percent of the product lines currently subject to U.S. antidumping are exported by developing countries.

Access to Markets --- Average price --- Commerce --- Dumping --- Economic Theory & Research --- Emerging Markets --- Export markets --- Fair --- Home market --- Input prices --- International Economics and Trade --- International trade --- Law and Development --- Macroeconomics and Economic Growth --- Market access --- Market price --- Market prices --- Markets and Market Access --- Price levels --- Price variation --- Price volatility --- Private Sector Development --- Purchasing --- Retail --- Sales --- Spread --- Suppliers --- Trade Law --- WTO

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The Special Safeguard Mechanism was a key issue in the July 2008 failure to reach agreement in the World Trade Organization negotiations under the Doha Development Agenda. It includes both price and quantity-triggered measures. This paper uses a stochastic simulation model of the world wheat market to investigate the effects of policy makers implementing policies based on the Special Safeguard Mechanism rules. As expected, implementation of the quantity-triggered measures is found to reduce imports, raise domestic prices, and boost mean domestic production in the Special Safeguard Mechanism regions. However, rather than insulating countries that use it from price volatility, it would actually increase domestic price volatility in developing countries, largely by restricting imports when domestic output is low and prices high. This paper estimates that implementation of the quantity-triggered measures would shrink average wheat imports by nearly 50 percent in some regions, with world wheat trade falling by 4.7 percent. The price measures discriminate against low price exporters - many of whom are developing countries - and tend to increase producer price instability.

Access to Markets --- Average price --- Climate Change Economics --- Competitiveness --- Domestic markets --- Emerging Markets --- International Economics and Trade --- International markets --- Macroeconomics and Economic Growth --- Market price --- Market volatility --- Markets and Market Access --- Price adjustment --- Price comparison --- Price variation --- Price volatility --- Private Sector Development --- Producer price --- Producer prices --- Sale --- Substitution --- Supplier --- Suppliers --- Supply curve --- Supply curves --- Trade Policy --- World market --- World markets

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This paper estimates the impact of a change in procurement strategy of a private buyer in the central Indian state of Madhya Pradesh. Beginning in October 2000, internet kiosks and warehouses were established that provide wholesale price information and an alternative marketing channel to soy farmers in the state. Using a new market-level dataset, the estimates suggest a significant increase in soy price after the introduction of kiosks, supporting the predictions of the theoretical model. Moreover, there is a robust increase in area under soy cultivation. The results point towards an improvement in the functioning of rural agricultural markets.

Access to Markets --- Agribusiness --- Agriculture --- Auction --- Average price --- Competitiveness --- Crops & Crop Management Systems --- Direct marketing --- E-Business --- Fair --- International Economics and Trade --- International market --- Macroeconomics and Economic Growth --- Market conditions --- Marketing --- Marketing Board --- Markets and Market Access --- Open auctions --- Price comparison --- Private Sector Development --- Sale --- Sales --- Spot markets --- Spread --- Surplus --- Warehouses --- Wholesale price --- Wholesale prices --- Wholesalers