Global Food Price Inflation : Implications for South Asia, Policy Reactions, and Future Challenges
The surge in global commodity prices of
the past few years has presented a tremendous development
challenge for South Asian countries. The large loss of
income from the terms of trade shock has worsened
macroeconomic balances, fueled rapid inflation, and hurt
growth. Although commodity prices have come down recently,
the benefits are being clouded by the emergence of a severe
global financial crisis. The adverse consequences of the