Food and agricultural policy for a globalizing world: Preparing for the future

Increasing globalization, including trade liberalization, enhanced exchange of knowledge and technology, expanded capital and labor movements, and cultural exchange provides opportunities for accelerated economic growth and poverty alleviation. It also provides opportunities to eliminate food insecurity and malnutrition in a sustainable manner. Unfortunately, globalization also presents risks that these desirable outcomes may not occur and that global welfare and/or the welfare of particular population groups such as the poor and malnourished may deteriorate. The final outcomes of increasing globalization will depend on the accompanying policies and institutions. This paper addresses policies and institutions of particular significance for food security, agriculture, and nutrition. The paper is divided into three parts. A brief discussion of the food and agriculture-related problems, challenges, and contradictions is presented first. Then follows an analysis of key driving forces in the global economy and the related priorities for future food and agricultural policies and institutional changes. The paper concludes with a brief discussion of the role of agricultural economists in facilitating and supporting appropriate changes in policies and institutions.