The 2008/2009 World Economic Crisis: What It Means for U.S. Agriculture

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英文名称：

The 2008/2009 World Economic Crisis: What It Means for U.S. Agriculture

作者：

Mathew Shane; William Liefert; Mitch Morehart; May Peters; John Dillard; David Torgerson; William Edmondson

工作单位：

USDA's Economic Research Service

来源地址：

https://www.ers.usda.gov/publications/pub-details/?pubid=40468

关键词：

world economic crisis;  U.S. agriculture;  U.S. agricultural exports;  agricultural commodity prices;  U.S. trade-weighted exchange rate;  U.S. farm income; 

年份：

2009

出版地：

Washington, DC, USA

总页数：

30 pp

语种：

English

摘要：

The world economic crisis that began in 2008 has major consequences for U.S. agriculture. The weakening of global demand because of emerging recessions and declining economic growth result in reduced export demand and lower agricultural commodity prices, compared with those in 2008. These, in turn, reduce U.S. farm income and place downward pressures on farm real estate values. So far, the overall impact on U.S. agriculture is not as severe as on the broader U.S. economy because the record-high agricultural exports, prices, and farm income in 2007 and 2008 put U.S. farmers on solid financial ground. Moreover, the debt equity ratios in agriculture tend to be more conservative than those in most other sectors of the economy. There is much uncertainty concerning the depth and extent of the crisis. The outcomes for U.S. agriculture are dependent on whether or not there is a global realignment of exchange rates to correct current macroeconomic imbalances.