The Economics of Genetically Modified Crops

*Economics of GM Crops Reviewed*

Genetically modified crops can contribute significantly to food security and sustainable development at the global level. However, concerns about new risks have led to complex and costly biosafety, food safety, and labeling regulations. These are insights forwarded by Matin Qaim in a review paper /The Economics of Genetically Modified Crops/ published in the /Annual Review of Resource Economics. /Qaim also notes the following:

* Impact studies show that GM crops are beneficial to farmers and
consumers and produce large aggregate welfare gains. In many
cases, farmers in developing countries benefit more than farmers
in developed countries.
* Bt crops can be suitable for small-scale farmers. They contribute
to higher household incomes and poverty reduction, when embedded
in a conducive institutional environment.
* Future GM crop applications, involving tolerance to abiotic stress
and higher nutrient contents, may lead to much larger benefits.

Qiam’s paper can be downloaded at http://arjournals.annualreviews.org/eprint/Ec5XmuiH3JwHVFxg742s/full/10.1146/… .

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