Professor Porteous is particularly interested in how trade policies and trade barriers affect incentives and outcomes for local firms and consumers in developing countries and how these effects then help or hinder long-term structural transformation and economic growth.
Professor Porteous provides this summary of his recent research:
"World crude oil prices declined by 75% from June 2014 to January 2016, leading to reduced oil revenues and the expansion of non-oil tradable sectors in oil-exporting countries. This paper explores the agricultural supply response to falling oil revenues using a calibrated model and household survey data from Nigeria. Since the fall in oil prices, households have shifted both labor and land into agriculture, with larger shifts in areas that have experienced greater reductions in oil revenues and are closer to international markets. The number of farmers cultivating tradable crops has increased, while the number cultivating non-tradable crops has declined. Model simulations show that lowering trade costs and boosting agricultural productivity can help offset the lost income from oil."
Read the JIE article here.