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POL201Y1 (221)
Lecture

Government Failures in Development

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Department
Political Science
Course
POL201Y1
Professor
Sophia Moreau
Semester
Fall

Description
POL201: Politics of Development November 1, 2010 Government Failures in Development Governments in Africa undermine the market because they demand high production but dont change prices Elements of agricultural policy o Cost of inputs: fertilizer, seeds, irrigation o Cost of outputs: what farmer is producing o Cost of secondarymanufactured goods Government intervention o Cost of inputs goes down o Cost of manufactured goods goes up o Cost of outputs goes down Monopsony o Governments buy the crops of farmers and they sell it domestically or interntionally o There is a set selling price that farmers have to abide by o Government usually sell crop domestically for a lower price as compared to international market The government keeps the difference Ex. On the internationa
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