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Export Restrictions on Commodities

This presentation explores the questions raised by the use of export restrictions on commodities during the global economic downturn. It examines the economics of export restrictions, consequences of their use, alternatives available, and the case for strengthening multilateral rules. The analysis reveals the harm caused to commercial interests, particularly in the poorest countries, and suggests preferable policies to achieve food security and environmental objectives. The recommendation is to revise multilateral rules, banning export restrictions and mandating non-discriminatory alternatives.

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Export Restrictions on Commodities

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  1. Export Restrictions on Commodities Professor Simon J. Evenett simon.evenett@gmail.com

  2. Contents of this presentation • The questions raised by the resort to export restrictions. • The resort to export restrictions on commodities during the recent global economic downturn. • Economics of export restrictions. • Alternatives to export restrictions on commodities.

  3. Policy questions raised by the frequent recent use of export restrictions • Who has resorted to the use of export restrictions and who has been hurt? • What are the consequences of export restrictions? • What alternatives to export restrictions exist? Are any of those alternatives preferable? • Is there a case for strengthening multilateral rules on export restrictions?

  4. Resort to export restrictions on commodities since November 2008 Source: Obtained from Global Trade Alert database, 19 September 2011.

  5. Preferred alternatives to export restrictions (1)

  6. Preferred alternatives to export restrictions (2)

  7. Implications for policymaking • Many governments have resorted to export restrictions or taxes on primary commodities during the recent global economic downturn. • In addition to the frequency of imposition, these measures frequently harm the commercial interests of the poorest countries, the LDCs. • For every stated purpose for export taxes or restrictions there exists a preferable policy. Encouraging the use of the latter is the central policy recommendation. • This recommendation implies there is no conflict between attaining food security and environmental objectives and eschewing export restrictions. • Multilateral rules should be revised to ban the use of export taxes and restrictions and mandate the use of non-discriminatory alternatives, provided governments have the expertise and resources to implement those alternatives. Implies a role for technical assistance and for neutral advice givers.

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