How will reform of the Soviet farm economy affect U.S. agriculture?

The economic upheaval in the USSR indicates that a day of reckoning has come for the Soviet farm economy. Soviet agriculture (like the rest of the Soviet economy) does not work, and further reform now seems certain. US agriculture has an enormous interest in the outcome of events in the USSR. During...

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Bibliographic Details
Published in:Economic review (Kansas City) 1991-09, Vol.76 (5), p.5-19
Main Author: Barkema, A. (Federal Reserve Bank of Kansas City)
Format: Article
Language:English
Subjects:
Agricultural banking
AGRICULTURAL DEVELOPMENT
Agricultural policy
AGRICULTURAL PRODUCTION
AGRICULTURAL SECTOR
Agriculture
COMERCIO
COMMERCE
Comparative analysis
Demand
DESARROLLO AGRICOLA
DEVELOPPEMENT AGRICOLE
DISPONIBILITE ALIMENTAIRE
Economic reform
Effects
ESTADOS UNIDOS DE AMERICA
ETATS UNIS
Export-import trade
FOOD SUPPLY
GRAIN
GRANOS
PRODUCCION
PRODUCTION
SECTEUR AGRICOLE
SECTOR AGRARIO
Soviet Union
Statistical data
SUMINISTRO DE ALIMENTOS
TRADE
United States
URSS
US imports
USA
USSR
Wheat
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Summary:The economic upheaval in the USSR indicates that a day of reckoning has come for the Soviet farm economy. Soviet agriculture (like the rest of the Soviet economy) does not work, and further reform now seems certain. US agriculture has an enormous interest in the outcome of events in the USSR. During the past 20 years, the Soviet Union has imported millions of tons of American grain to offset the shortcomings of its inept farm economy. The Soviets will continue to import grain as they reform their flawed agricultural system, regardless of the political organization the USSR eventually assumes. However, a successful reform of the Soviet agricultural economy could sharply curtail the USSR's reliance on imported grain. Yet the development of Soviet agriculture may also create a huge new market for US farm and food technology, ranging from improved genetics for Soviet livestock herds to new food-processing plants.
ISSN:0161-2387
2163-422X