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Economic impact of price controls and regulations: case of GM cotton in India

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TitleInfo (displayLabel = Citation Title); (type = uniform)
Title
Economic impact of price controls and regulations: case of GM cotton in India
Name (ID = NAME001); (type = personal)
NamePart (type = family)
Rao
NamePart (type = given)
Smriti S.
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Smriti S. Rao
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author
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Pray
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Carl
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Advisory Committee
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Carl E Pray
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chair
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Bhuyan
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Sanjib
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Advisory Committee
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Sanjib S Bhuyan
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internal member
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Toole
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Andrew
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Advisory Committee
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Andrew A Toole
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internal member
Name (ID = NAME005); (type = corporate)
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Rutgers University
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degree grantor
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Graduate School - New Brunswick
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school
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Text
Genre (authority = marcgt)
theses
OriginInfo
DateCreated (qualifier = exact)
2008
DateOther (qualifier = exact); (type = degree)
2008-10
Language
LanguageTerm
English
PhysicalDescription
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electronic
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application/pdf
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text/xml
Extent
vii, 56 pages
Abstract
Bt cotton has been extremely popular with Indian farmers ever since unapproved varieties were introduced in Gujarat in 2001 by Navbharat Seed Company Ltd. Cotton hybrids with approved bt traits were released by Monsanto through the joint venture MMB (Mahyco Monsanto Biotech) in 2002. MMB had the first mover advantage because they had the only approved bt genes for commercialization in India thereby making considerable profits. This attracted a large number of firms to license the technology from MMB. However, in 2006 the government of Andhra Pradesh (AP) filed a petition with the Monopolies and Restrictive Trade Practices Commission (MRTPC) seeking to reduce prices. The Commission agreed but MMB appealed to the Supreme Court. Meanwhile, the AP government negotiated with the seed companies to set the prices of hybrid bt cotton seed at $18/packet (of 450 grams) inclusive of technology fee which is much lower than the $29/packet that MMB had been selling it at. Soon other state governments adopted the same pricing policy.
This paper primarily attempts to perform a cost-benefit analysis using the economic surplus model to address the immediate and longer term impact of price controls on farmers. A number of seed companies, especially the multinationals are concerned that this governmental intervention could inhibit innovation, which would mean that farmers would lose out on economic surplus in the future. We attempt to measure these losses. Our analysis finds that the current benefits to the farmers outweigh the losses of benefits due to non availability of some of the most easily measurable new technologies.
Note (type = degree)
M.S.
Note (type = bibliography)
Includes bibliographical references (p. 43-45).
Subject (ID = SUBJ1); (authority = RUETD)
Topic
Food and Business Economics
Subject (ID = SUBJ2); (authority = ETD-LCSH)
Topic
Price regulation--India
Subject (ID = SUBJ3); (authority = ETD-LCSH)
Topic
Cotton--Law and legislation--India
Subject (ID = SUBJ4); (authority = ETD-LCSH)
Topic
Cotton--Prices--India
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TitleInfo
Title
Graduate School - New Brunswick Electronic Theses and Dissertations
Identifier (type = local)
rucore19991600001
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http://hdl.rutgers.edu/1782.2/rucore10001600001.ETD.17553
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ETD_1278
Location
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NjNbRU
Identifier (type = doi)
doi:10.7282/T38S4Q6D
Genre (authority = ExL-Esploro)
ETD graduate
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The author owns the copyright to this work.
Copyright
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Copyright protected
Availability
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Open
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Name
Smriti Rao
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Copyright holder
Affiliation
Rutgers University. Graduate School - New Brunswick
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Non-exclusive ETD license
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Author Agreement License
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I hereby grant to the Rutgers University Libraries and to my school the non-exclusive right to archive, reproduce and distribute my thesis or dissertation, in whole or in part, and/or my abstract, in whole or in part, in and from an electronic format, subject to the release date subsequently stipulated in this submittal form and approved by my school. I represent and stipulate that the thesis or dissertation and its abstract are my original work, that they do not infringe or violate any rights of others, and that I make these grants as the sole owner of the rights to my thesis or dissertation and its abstract. I represent that I have obtained written permissions, when necessary, from the owner(s) of each third party copyrighted matter to be included in my thesis or dissertation and will supply copies of such upon request by my school. I acknowledge that RU ETD and my school will not distribute my thesis or dissertation or its abstract if, in their reasonable judgment, they believe all such rights have not been secured. I acknowledge that I retain ownership rights to the copyright of my work. I also retain the right to use all or part of this thesis or dissertation in future works, such as articles or books.
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