Abstract:
The World Trade Organization’s (WTO) latest round of negotiations, the Doha Development Agenda (DDA), will likely change the way most agricultural products are traded around the world. These new liberalization policies will potentially affect the Canadian production and consumption of dairy products. This thesis uses a partial equilibrium model with stochastic world prices to evaluate the effects of these trade reforms on the Canadian dairy industry. Different liberalization scenarios are simulated and the outcomes are analyzed and discussed.
