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Brazil's sugarcane sector : a case of lost opportunity (anglais)

The Brazilian sugar and ethanol story goes like this: direct market intervention overrides market forces. Markets undergo dramatic change. Intervention establishes vested interests. Rent-seeking blocks adjustment to market change. Economic objectives become blurred behind political objectives. Opportunities go begging. Industry profitability suffers. And national income is forgone. The authors use a simple economic model of the Brazilian sugarcane...
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