A welfare analysis of the EC‐ACP sugar protocol
评估欧共体与非加太国家之间的糖类议定书对价格、贸易、出口收入和福利的影响，发现该政策从捐赠者和接受者角度评价不同，带来未针对人均收入的国际转移，但风险收益较大。
The Sugar Protocol, laid down in the Convention of Lome, has been an established instrument of commodity policy for nearly 20 years. Its basic rule is that the EC imports at guaranteed prices specified quantities of sugar from ACP countries. It is the objective of the article to provide an economic evaluation of the Sugar Protocol. Impacts on prices, trade, export earnings and economic welfare are elaborated. The Sugar Protocol's impacts on the level and instabilty of sugar export earnings are jointly evaluated by computing transfer and risk benefits along the lines of Newbery/Stiglitz. A major conclusion is that the policy has to be evaluated differently from the donor's and the recipient's point of view. The Sugar Protocol induces international income transfers that are untargeted in terms of per capita income. It causes, however, rather strong risk benefits compared with other instruments of international commodity policy and sizeable welfare gains for individual recipient countries.