The vast majority of the world s poorest households depend on farming for their livelihood. During the 1960s and 1970s, most developing countries imposed pro-urban and anti-agricultural policies, while many high-income countries restricted agricultural imports and subsidized their farmers. Both sets of policies inhibited economic growth and poverty alleviation in developing countries. While progress has been made over the past two decades to reduce those policy biases, many trade- and welfare-reducing price distortions remain between agriculture and other sectors as well as within the agricultural sector of both rich and poor countries. It is more than 15 years since the first comprehensive empirical studies of the disarray in world agricultural markets appeared. This volume is the first in a series (other volumes cover Africa, Asia, and Latin America) that not only fill that lacuna for recent years but extend the estimates in a consistent and comparable way back in time and...

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