Prestigious award for School Professor
Professor Steve McCorriston, Professor of Agricultural Economics and Head of the Department of Economics has been presented with a prestigious award for the contribution of one of his papers to policy debate and decision making in the field of agricultural economics. The European Association of Agricultural Economists, Quality of Policy Contribution Award, given by the leading European academic body in agricultural economics, was presented to Professor McCorriston in Ghent, Belgium, in August.
Professor McCorriston’s paper ‘Do state trading authorities distort trade?’ co-authored with Donald MacLaren, Professor of Economics at the University of Melbourne, was published in the European Economic Review in 2007 and examines the impact of state trading authorities (STEs) in both developed and developing countries. With the Doha Development Round of the World Trade Organization (WTO) talks currently in deadlock over a failure to reach a compromise on agricultural import rules, the paper makes a number of highly relevant contributions to existing literature regarding the benefits and costs of state trading enterprises as instruments of government policies.
The paper develops a model which can be applied to STEs to gauge whether their impact distorts trading patterns and whether this distortion is beneficial or detrimental. By using data from STEs operating in developed and developing countries (examples in Canada and China were used in the study), the model can be used to determine the impacts of STEs and therefore inform bodies such as the WTO for future discussions regarding whether STEs constitute a form of subsidy.
Date: 24 September 2008