The impact of the European enlargement and CAP reforms on agricultural markets. Much ado about nothing?

Jacinto F. Fabiosa, John C. Beghin, Fengxia Dong, Amani Elobeid, Frank H. Fuller, Holger Matthey, Simla Tokgöz, Eric Wailes

Research output: Chapter in Book/Report/Conference proceedingChapter

2 Scopus citations

Abstract

Policy reforms in the EU require careful consideration because the EU is asignificant player in international agricultural markets for many commodities. Weanalyze the effects on world agricultural markets of the 2003 Common AgriculturalPolicy (CAP) reform and the accession of ten new member states (NMS) to the EU onMay 1, 2004. Given past reforms, changes introduced in the 2003 CAP have only amoderate impact on the EU-15, causing small decreases in production for mostcommodities and raising domestic prices marginally. Beef, rice, and dairy experience thegreatest changes. Accession leads to substantial increases in domestic prices of severalcommodities in the ten NMS because their prices were historically below EU-15 prices.Consequently, consumption of agricultural products in these countries decreases whileproduction rises. Trade with the NMS causes EU-15 prices to decline modestly, and thetwo reforms combined have moderate or negligible effects on world markets.

Original languageEnglish (US)
Title of host publicationEuropean Agriculture
Subtitle of host publicationEnlargement, Structural Change, CAP Reform, and Trade Liberalization
PublisherNova Science Publishers, Inc.
Pages51-64
Number of pages14
ISBN (Print)9781600219665
StatePublished - 2007
Externally publishedYes

Keywords

  • CAP reform
  • Common agricultural policy
  • EU enlargement
  • European agriculture
  • New member states

ASJC Scopus subject areas

  • Agricultural and Biological Sciences(all)
  • Social Sciences(all)

Fingerprint

Dive into the research topics of 'The impact of the European enlargement and CAP reforms on agricultural markets. Much ado about nothing?'. Together they form a unique fingerprint.

Cite this