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The economics of planting rights in wine production

Boekbijdrage - Hoofdstuk

©Oxford University Press and Foundation for the European Review of Agricultural Economics 2014. The European Union (EU) is the world’s largest wine producer, as well as the world’s most regulated wine market. In 2007, the EU decided on a major reform of its wine policy. A crucial element was the abolishment of a system of planting rights to limit the planting of vineyards. However, after intense lobbying by opponents of the liberalization, this decision was reversed in 2013. Despite the importance of planting rights in European (and hence global) wine production, and despite the fierce debates surrounding the reforms, no model exists to study the effects of this policy. We develop the first theoretical model of planting rights, integrating the markets for land, planting rights and wine to analyze efficiency and distributional effects. We use the model to study the effects of differences among EU member states in restrictions on trade in planting rights, the role of government reserves and the impact of imperfect enforcement.
Boek: World Scientific Handbook in Financial Economics Series
Pagina's: 127 - 152
Jaar van publicatie:2018