Agriculture has a key role to play in reducing poverty and hunger in many developing countries. About 75% of the world's poor live in rural areas and most are dependent on agriculture and related activities in the rural economy. For this reason the benefits for developing countries’ farmers have been shown to be substantial if OECD member countries reformed their agricultural policies. The issu...

Disagreement over the form of regulation of greenhouse gasses motivates a comparison of market based and command and control policies. More efficient policies can increase aggregate marginal abatement cost, resulting in higher emissions. Multiple investment equilibria and “regulatory uncertainty” arise when firms anticipate command and control policies. Market based policies eliminate this unce...