When prices spike in international grain markets, national governments often reduce the extent to which that spike affects their domestic food markets. Those actions exacerbate the price spike and international welfare transfer associated with that terms of trade change. Several recent analyses...

This absorbing book examines the period of massive structural adjustment taking place in the wine industry. For many centuries wine was very much a European product. While that is still the case today – three-quarters of world wine production, consumption and trade involve Europe and most of...

Over the past decade Hong Kong and China have become far more important to the world’s wine markets, while Southeast Asia’s imports of fine wine continue to grow steadily. This paper reviews recent developments in the light of comparative advantage theory before drawing on a model of global...

This paper seeks first to quantify the relative importance of the different factors contributing to growth in Australia’s wine industry over the ten years to 1996. This growth accounting exercise uses an economy-wide model for Australia that separately distinguishes nonpremium from premium red...

A multi-sectoral partial equilibrium model of the markets for two types of Australian grapes and wine (premium and non-premium) is developed to study the aggregate returns from different types of research and promotion investments by the industry and their distribution across actors in the...