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data-event-name="pinnable-header.vector-toc.pin">move to sidebar</button> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-unpin-button" data-event-name="pinnable-header.vector-toc.unpin">hide</button> </div> <ul class="vector-toc-contents" id="mw-panel-toc-list"> <li id="toc-mw-content-text" class="vector-toc-list-item vector-toc-level-1"> <a href="#" class="vector-toc-link"> <div class="vector-toc-text">(Top)</div> </a> </li> <li id="toc-Types" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Types"> <div class="vector-toc-text"> <span class="vector-toc-numb">1</span> <span>Types</span> </div> </a> <button aria-controls="toc-Types-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Types subsection</span> </button> <ul id="toc-Types-sublist" class="vector-toc-list"> <li id="toc-Production_subsidy" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Production_subsidy"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.1</span> <span>Production subsidy</span> </div> </a> <ul id="toc-Production_subsidy-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Consumer/consumption_subsidy" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Consumer/consumption_subsidy"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.2</span> <span>Consumer/consumption subsidy</span> </div> </a> <ul id="toc-Consumer/consumption_subsidy-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Export_subsidy" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Export_subsidy"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.3</span> <span>Export subsidy</span> </div> </a> <ul id="toc-Export_subsidy-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Import_subsidy" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Import_subsidy"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.4</span> <span>Import subsidy</span> </div> </a> <ul id="toc-Import_subsidy-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Employment_subsidy" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Employment_subsidy"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.5</span> <span>Employment subsidy</span> </div> </a> <ul id="toc-Employment_subsidy-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Tax_subsidy" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Tax_subsidy"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.6</span> <span>Tax subsidy</span> </div> </a> <ul id="toc-Tax_subsidy-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Transport_subsidies" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Transport_subsidies"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.7</span> <span>Transport subsidies</span> </div> </a> <ul id="toc-Transport_subsidies-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Energy_subsidies" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Energy_subsidies"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.8</span> <span>Energy subsidies</span> </div> </a> <ul id="toc-Energy_subsidies-sublist" class="vector-toc-list"> <li id="toc-Fossil_fuels" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Fossil_fuels"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.8.1</span> <span>Fossil fuels</span> </div> </a> <ul id="toc-Fossil_fuels-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Housing_subsidies" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Housing_subsidies"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.9</span> <span>Housing subsidies</span> </div> </a> <ul id="toc-Housing_subsidies-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Environmental_externalities" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Environmental_externalities"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.10</span> <span>Environmental externalities</span> </div> </a> <ul id="toc-Environmental_externalities-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Categorising_subsidies" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Categorising_subsidies"> <div class="vector-toc-text"> <span class="vector-toc-numb">2</span> <span>Categorising subsidies</span> </div> </a> <button aria-controls="toc-Categorising_subsidies-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Categorising subsidies subsection</span> </button> <ul id="toc-Categorising_subsidies-sublist" class="vector-toc-list"> <li id="toc-Direct_and_indirect" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Direct_and_indirect"> <div class="vector-toc-text"> <span class="vector-toc-numb">2.1</span> <span>Direct and indirect</span> </div> </a> <ul id="toc-Direct_and_indirect-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Production_and_consumption" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Production_and_consumption"> <div class="vector-toc-text"> <span class="vector-toc-numb">2.2</span> <span>Production and consumption</span> </div> </a> <ul id="toc-Production_and_consumption-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Broad_and_narrow" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Broad_and_narrow"> <div class="vector-toc-text"> <span class="vector-toc-numb">2.3</span> <span>Broad and narrow</span> </div> </a> <ul id="toc-Broad_and_narrow-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Monetary_and_non-monetary" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Monetary_and_non-monetary"> <div class="vector-toc-text"> <span class="vector-toc-numb">2.4</span> <span>Monetary and non-monetary</span> </div> </a> <ul id="toc-Monetary_and_non-monetary-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Economic_effects" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Economic_effects"> <div class="vector-toc-text"> <span class="vector-toc-numb">3</span> <span>Economic effects</span> </div> </a> <ul id="toc-Economic_effects-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Preventing_fraud" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Preventing_fraud"> <div class="vector-toc-text"> <span class="vector-toc-numb">4</span> <span>Preventing fraud</span> </div> </a> <ul id="toc-Preventing_fraud-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Perverse_subsidies" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Perverse_subsidies"> <div class="vector-toc-text"> <span class="vector-toc-numb">5</span> <span>Perverse subsidies</span> </div> </a> <button aria-controls="toc-Perverse_subsidies-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Perverse subsidies subsection</span> </button> <ul id="toc-Perverse_subsidies-sublist" class="vector-toc-list"> <li id="toc-Definitions" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Definitions"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.1</span> <span>Definitions</span> </div> </a> <ul id="toc-Definitions-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Effects" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Effects"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.2</span> <span>Effects</span> </div> </a> <ul id="toc-Effects-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Implementation" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Implementation"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.3</span> <span>Implementation</span> </div> </a> <ul id="toc-Implementation-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Examples" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Examples"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.4</span> <span>Examples</span> </div> </a> <ul id="toc-Examples-sublist" class="vector-toc-list"> <li id="toc-Agricultural_subsidies" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Agricultural_subsidies"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.4.1</span> <span>Agricultural subsidies</span> </div> </a> <ul id="toc-Agricultural_subsidies-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Fisheries" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Fisheries"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.4.2</span> <span>Fisheries</span> </div> </a> <ul id="toc-Fisheries-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Manufacturing_subsidies" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Manufacturing_subsidies"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.4.3</span> <span>Manufacturing subsidies</span> </div> </a> <ul id="toc-Manufacturing_subsidies-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Others" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Others"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.4.4</span> <span>Others</span> </div> </a> <ul id="toc-Others-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> </ul> </li> <li id="toc-Short_list_of_subsidies" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Short_list_of_subsidies"> <div class="vector-toc-text"> <span class="vector-toc-numb">6</span> <span>Short list of subsidies</span> </div> </a> <ul id="toc-Short_list_of_subsidies-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-See_also" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#See_also"> <div class="vector-toc-text"> <span class="vector-toc-numb">7</span> <span>See also</span> </div> </a> <ul id="toc-See_also-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-References" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#References"> <div class="vector-toc-text"> <span class="vector-toc-numb">8</span> <span>References</span> </div> </a> <ul id="toc-References-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Further_reading" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Further_reading"> <div class="vector-toc-text"> <span class="vector-toc-numb">9</span> <span>Further reading</span> </div> </a> <ul id="toc-Further_reading-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-External_links" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#External_links"> <div class="vector-toc-text"> <span class="vector-toc-numb">10</span> <span>External links</span> </div> </a> <ul id="toc-External_links-sublist" class="vector-toc-list"> </ul> </li> </ul> </div> </div> </nav> </div> </div> <div class="mw-content-container"> <main id="content" class="mw-body"> <header class="mw-body-header vector-page-titlebar"> <nav aria-label="Contents" class="vector-toc-landmark"> <div id="vector-page-titlebar-toc" class="vector-dropdown vector-page-titlebar-toc vector-button-flush-left" > <input type="checkbox" id="vector-page-titlebar-toc-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-page-titlebar-toc" class="vector-dropdown-checkbox " aria-label="Toggle the table of contents" > <label id="vector-page-titlebar-toc-label" for="vector-page-titlebar-toc-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" ><span class="vector-icon mw-ui-icon-listBullet mw-ui-icon-wikimedia-listBullet"></span> <span class="vector-dropdown-label-text">Toggle the table of contents</span> </label> <div class="vector-dropdown-content"> <div id="vector-page-titlebar-toc-unpinned-container" class="vector-unpinned-container"> </div> </div> </div> </nav> <h1 id="firstHeading" class="firstHeading mw-first-heading"><span class="mw-page-title-main">Subsidy</span></h1> <div id="p-lang-btn" class="vector-dropdown mw-portlet mw-portlet-lang" > <input type="checkbox" id="p-lang-btn-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-p-lang-btn" class="vector-dropdown-checkbox mw-interlanguage-selector" aria-label="Go to an article in another language. Available in 52 languages" > <label id="p-lang-btn-label" for="p-lang-btn-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--action-progressive mw-portlet-lang-heading-52" aria-hidden="true" ><span class="vector-icon mw-ui-icon-language-progressive mw-ui-icon-wikimedia-language-progressive"></span> <span class="vector-dropdown-label-text">52 languages</span> </label> <div class="vector-dropdown-content"> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li class="interlanguage-link interwiki-ar mw-list-item"><a href="https://ar.wikipedia.org/wiki/%D8%AF%D8%B9%D9%85_%D8%AD%D9%83%D9%88%D9%85%D9%8A" title="دعم حكومي – Arabic" lang="ar" hreflang="ar" data-title="دعم حكومي" data-language-autonym="العربية" data-language-local-name="Arabic" class="interlanguage-link-target"><span>العربية</span></a></li><li class="interlanguage-link interwiki-az mw-list-item"><a href="https://az.wikipedia.org/wiki/Subsidiya" title="Subsidiya – Azerbaijani" lang="az" hreflang="az" data-title="Subsidiya" data-language-autonym="Azərbaycanca" data-language-local-name="Azerbaijani" class="interlanguage-link-target"><span>Azərbaycanca</span></a></li><li class="interlanguage-link interwiki-bg mw-list-item"><a href="https://bg.wikipedia.org/wiki/%D0%A1%D1%83%D0%B1%D1%81%D0%B8%D0%B4%D0%B8%D1%8F" title="Субсидия – Bulgarian" lang="bg" hreflang="bg" data-title="Субсидия" data-language-autonym="Български" data-language-local-name="Bulgarian" class="interlanguage-link-target"><span>Български</span></a></li><li class="interlanguage-link interwiki-cs mw-list-item"><a href="https://cs.wikipedia.org/wiki/Subvence" title="Subvence – Czech" lang="cs" hreflang="cs" data-title="Subvence" data-language-autonym="Čeština" data-language-local-name="Czech" class="interlanguage-link-target"><span>Čeština</span></a></li><li class="interlanguage-link interwiki-sn mw-list-item"><a href="https://sn.wikipedia.org/wiki/Muserimadzwa" title="Muserimadzwa – Shona" lang="sn" hreflang="sn" data-title="Muserimadzwa" data-language-autonym="ChiShona" data-language-local-name="Shona" class="interlanguage-link-target"><span>ChiShona</span></a></li><li class="interlanguage-link interwiki-da mw-list-item"><a href="https://da.wikipedia.org/wiki/Subsidium" title="Subsidium – Danish" lang="da" hreflang="da" data-title="Subsidium" data-language-autonym="Dansk" data-language-local-name="Danish" class="interlanguage-link-target"><span>Dansk</span></a></li><li class="interlanguage-link interwiki-de mw-list-item"><a href="https://de.wikipedia.org/wiki/Subvention" title="Subvention – German" lang="de" hreflang="de" data-title="Subvention" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target"><span>Deutsch</span></a></li><li class="interlanguage-link interwiki-et mw-list-item"><a href="https://et.wikipedia.org/wiki/Subsiidium" title="Subsiidium – Estonian" lang="et" hreflang="et" data-title="Subsiidium" data-language-autonym="Eesti" data-language-local-name="Estonian" class="interlanguage-link-target"><span>Eesti</span></a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/Subsidio" title="Subsidio – Spanish" lang="es" hreflang="es" data-title="Subsidio" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target"><span>Español</span></a></li><li class="interlanguage-link interwiki-eo mw-list-item"><a href="https://eo.wikipedia.org/wiki/Subvencio" title="Subvencio – Esperanto" lang="eo" hreflang="eo" data-title="Subvencio" data-language-autonym="Esperanto" data-language-local-name="Esperanto" class="interlanguage-link-target"><span>Esperanto</span></a></li><li class="interlanguage-link interwiki-eu mw-list-item"><a href="https://eu.wikipedia.org/wiki/Subsidio" title="Subsidio – Basque" lang="eu" hreflang="eu" data-title="Subsidio" data-language-autonym="Euskara" data-language-local-name="Basque" class="interlanguage-link-target"><span>Euskara</span></a></li><li class="interlanguage-link interwiki-fa mw-list-item"><a href="https://fa.wikipedia.org/wiki/%DB%8C%D8%A7%D8%B1%D8%A7%D9%86%D9%87" title="یارانه – Persian" lang="fa" hreflang="fa" data-title="یارانه" data-language-autonym="فارسی" data-language-local-name="Persian" class="interlanguage-link-target"><span>فارسی</span></a></li><li class="interlanguage-link interwiki-fy mw-list-item"><a href="https://fy.wikipedia.org/wiki/Subsydzje" title="Subsydzje – Western Frisian" lang="fy" hreflang="fy" data-title="Subsydzje" data-language-autonym="Frysk" data-language-local-name="Western Frisian" class="interlanguage-link-target"><span>Frysk</span></a></li><li class="interlanguage-link interwiki-ko mw-list-item"><a href="https://ko.wikipedia.org/wiki/%EB%B3%B4%EC%A1%B0%EA%B8%88" title="보조금 – Korean" lang="ko" hreflang="ko" data-title="보조금" data-language-autonym="한국어" data-language-local-name="Korean" class="interlanguage-link-target"><span>한국어</span></a></li><li class="interlanguage-link interwiki-hy mw-list-item"><a href="https://hy.wikipedia.org/wiki/%D5%8D%D5%B8%D6%82%D5%A2%D5%BD%D5%AB%D5%A4%D5%AB%D5%A1" title="Սուբսիդիա – Armenian" lang="hy" hreflang="hy" data-title="Սուբսիդիա" data-language-autonym="Հայերեն" data-language-local-name="Armenian" class="interlanguage-link-target"><span>Հայերեն</span></a></li><li class="interlanguage-link interwiki-hi mw-list-item"><a href="https://hi.wikipedia.org/wiki/%E0%A4%B8%E0%A4%B9%E0%A4%BE%E0%A4%AF%E0%A4%BF%E0%A4%95%E0%A5%80" title="सहायिकी – Hindi" lang="hi" hreflang="hi" data-title="सहायिकी" data-language-autonym="हिन्दी" data-language-local-name="Hindi" class="interlanguage-link-target"><span>हिन्दी</span></a></li><li class="interlanguage-link interwiki-hr mw-list-item"><a href="https://hr.wikipedia.org/wiki/Subvencije" title="Subvencije – Croatian" lang="hr" hreflang="hr" data-title="Subvencije" data-language-autonym="Hrvatski" data-language-local-name="Croatian" class="interlanguage-link-target"><span>Hrvatski</span></a></li><li class="interlanguage-link interwiki-id mw-list-item"><a href="https://id.wikipedia.org/wiki/Subsidi" title="Subsidi – Indonesian" lang="id" hreflang="id" data-title="Subsidi" data-language-autonym="Bahasa Indonesia" data-language-local-name="Indonesian" class="interlanguage-link-target"><span>Bahasa Indonesia</span></a></li><li class="interlanguage-link interwiki-it mw-list-item"><a href="https://it.wikipedia.org/wiki/Sussidio" title="Sussidio – Italian" lang="it" hreflang="it" data-title="Sussidio" data-language-autonym="Italiano" data-language-local-name="Italian" class="interlanguage-link-target"><span>Italiano</span></a></li><li class="interlanguage-link interwiki-he mw-list-item"><a href="https://he.wikipedia.org/wiki/%D7%A1%D7%95%D7%91%D7%A1%D7%99%D7%93%D7%99%D7%94" title="סובסידיה – Hebrew" lang="he" hreflang="he" data-title="סובסידיה" data-language-autonym="עברית" data-language-local-name="Hebrew" class="interlanguage-link-target"><span>עברית</span></a></li><li class="interlanguage-link interwiki-kn mw-list-item"><a href="https://kn.wikipedia.org/wiki/%E0%B2%B8%E0%B2%B9%E0%B2%BE%E0%B2%AF%E0%B2%A7%E0%B2%A8" title="ಸಹಾಯಧನ – Kannada" lang="kn" hreflang="kn" data-title="ಸಹಾಯಧನ" data-language-autonym="ಕನ್ನಡ" data-language-local-name="Kannada" class="interlanguage-link-target"><span>ಕನ್ನಡ</span></a></li><li class="interlanguage-link interwiki-kk mw-list-item"><a href="https://kk.wikipedia.org/wiki/%D0%A1%D1%83%D0%B1%D1%81%D0%B8%D0%B4%D0%B8%D1%8F" title="Субсидия – Kazakh" lang="kk" hreflang="kk" data-title="Субсидия" data-language-autonym="Қазақша" data-language-local-name="Kazakh" class="interlanguage-link-target"><span>Қазақша</span></a></li><li class="interlanguage-link interwiki-lt mw-list-item"><a href="https://lt.wikipedia.org/wiki/Subsidija" title="Subsidija – Lithuanian" lang="lt" hreflang="lt" data-title="Subsidija" data-language-autonym="Lietuvių" data-language-local-name="Lithuanian" class="interlanguage-link-target"><span>Lietuvių</span></a></li><li class="interlanguage-link interwiki-mk mw-list-item"><a href="https://mk.wikipedia.org/wiki/%D0%A1%D1%83%D0%B1%D0%B2%D0%B5%D0%BD%D1%86%D0%B8%D0%BE%D0%BD%D0%B8%D1%80%D0%B0%D1%9A%D0%B5" title="Субвенционирање – Macedonian" lang="mk" hreflang="mk" data-title="Субвенционирање" data-language-autonym="Македонски" data-language-local-name="Macedonian" class="interlanguage-link-target"><span>Македонски</span></a></li><li class="interlanguage-link interwiki-ml mw-list-item"><a href="https://ml.wikipedia.org/wiki/%E0%B4%B8%E0%B4%AC%E0%B5%8D%E2%80%8C%E0%B4%B8%E0%B4%BF%E0%B4%A1%E0%B4%BF" title="സബ്‌സിഡി – Malayalam" lang="ml" hreflang="ml" data-title="സബ്‌സിഡി" data-language-autonym="മലയാളം" data-language-local-name="Malayalam" class="interlanguage-link-target"><span>മലയാളം</span></a></li><li class="interlanguage-link interwiki-mr mw-list-item"><a href="https://mr.wikipedia.org/wiki/%E0%A4%85%E0%A4%A8%E0%A5%81%E0%A4%A6%E0%A4%BE%E0%A4%A8" title="अनुदान – Marathi" lang="mr" hreflang="mr" data-title="अनुदान" data-language-autonym="मराठी" data-language-local-name="Marathi" class="interlanguage-link-target"><span>मराठी</span></a></li><li class="interlanguage-link interwiki-ms mw-list-item"><a href="https://ms.wikipedia.org/wiki/Subsidi" title="Subsidi – Malay" lang="ms" hreflang="ms" data-title="Subsidi" data-language-autonym="Bahasa Melayu" data-language-local-name="Malay" class="interlanguage-link-target"><span>Bahasa Melayu</span></a></li><li class="interlanguage-link interwiki-mn mw-list-item"><a href="https://mn.wikipedia.org/wiki/%D0%A2%D0%B0%D1%82%D0%B0%D0%B0%D1%81" title="Татаас – Mongolian" lang="mn" hreflang="mn" data-title="Татаас" data-language-autonym="Монгол" data-language-local-name="Mongolian" class="interlanguage-link-target"><span>Монгол</span></a></li><li class="interlanguage-link interwiki-nl mw-list-item"><a href="https://nl.wikipedia.org/wiki/Subsidie" title="Subsidie – Dutch" lang="nl" hreflang="nl" data-title="Subsidie" data-language-autonym="Nederlands" data-language-local-name="Dutch" class="interlanguage-link-target"><span>Nederlands</span></a></li><li class="interlanguage-link interwiki-ja mw-list-item"><a href="https://ja.wikipedia.org/wiki/%E8%A3%9C%E5%8A%A9%E9%87%91" title="補助金 – Japanese" lang="ja" hreflang="ja" data-title="補助金" data-language-autonym="日本語" data-language-local-name="Japanese" class="interlanguage-link-target"><span>日本語</span></a></li><li class="interlanguage-link interwiki-no mw-list-item"><a href="https://no.wikipedia.org/wiki/Subsidie" title="Subsidie – Norwegian Bokmål" lang="nb" hreflang="nb" data-title="Subsidie" data-language-autonym="Norsk bokmål" data-language-local-name="Norwegian Bokmål" class="interlanguage-link-target"><span>Norsk bokmål</span></a></li><li class="interlanguage-link interwiki-uz mw-list-item"><a href="https://uz.wikipedia.org/wiki/Subsidiya" title="Subsidiya – Uzbek" lang="uz" hreflang="uz" data-title="Subsidiya" data-language-autonym="Oʻzbekcha / ўзбекча" data-language-local-name="Uzbek" class="interlanguage-link-target"><span>Oʻzbekcha / ўзбекча</span></a></li><li class="interlanguage-link interwiki-pa mw-list-item"><a href="https://pa.wikipedia.org/wiki/%E0%A8%B8%E0%A8%AC%E0%A8%B8%E0%A8%BF%E0%A8%A1%E0%A9%80" title="ਸਬਸਿਡੀ – Punjabi" lang="pa" hreflang="pa" data-title="ਸਬਸਿਡੀ" data-language-autonym="ਪੰਜਾਬੀ" data-language-local-name="Punjabi" class="interlanguage-link-target"><span>ਪੰਜਾਬੀ</span></a></li><li class="interlanguage-link interwiki-ps mw-list-item"><a href="https://ps.wikipedia.org/wiki/%D8%B3%D8%A8%D8%B3%D9%8A%DA%89%D9%8A" title="سبسيډي – Pashto" lang="ps" hreflang="ps" data-title="سبسيډي" data-language-autonym="پښتو" data-language-local-name="Pashto" class="interlanguage-link-target"><span>پښتو</span></a></li><li class="interlanguage-link interwiki-pl mw-list-item"><a href="https://pl.wikipedia.org/wiki/Subwencja" title="Subwencja – Polish" lang="pl" hreflang="pl" data-title="Subwencja" data-language-autonym="Polski" data-language-local-name="Polish" class="interlanguage-link-target"><span>Polski</span></a></li><li class="interlanguage-link interwiki-pt mw-list-item"><a href="https://pt.wikipedia.org/wiki/Subs%C3%ADdio" title="Subsídio – Portuguese" lang="pt" hreflang="pt" data-title="Subsídio" data-language-autonym="Português" data-language-local-name="Portuguese" class="interlanguage-link-target"><span>Português</span></a></li><li class="interlanguage-link interwiki-ro mw-list-item"><a href="https://ro.wikipedia.org/wiki/Subven%C8%9Bie" title="Subvenție – Romanian" lang="ro" hreflang="ro" data-title="Subvenție" data-language-autonym="Română" data-language-local-name="Romanian" class="interlanguage-link-target"><span>Română</span></a></li><li class="interlanguage-link interwiki-ru mw-list-item"><a href="https://ru.wikipedia.org/wiki/%D0%A1%D1%83%D0%B1%D1%81%D0%B8%D0%B4%D0%B8%D1%8F" title="Субсидия – Russian" lang="ru" hreflang="ru" data-title="Субсидия" data-language-autonym="Русский" data-language-local-name="Russian" class="interlanguage-link-target"><span>Русский</span></a></li><li class="interlanguage-link interwiki-sah mw-list-item"><a href="https://sah.wikipedia.org/wiki/%D0%A1%D1%83%D0%B1%D1%81%D0%B8%D0%B4%D0%B8%D1%8F" title="Субсидия – Yakut" lang="sah" hreflang="sah" data-title="Субсидия" data-language-autonym="Саха тыла" data-language-local-name="Yakut" class="interlanguage-link-target"><span>Саха тыла</span></a></li><li class="interlanguage-link interwiki-sq mw-list-item"><a href="https://sq.wikipedia.org/wiki/Subvencionet" title="Subvencionet – Albanian" lang="sq" hreflang="sq" data-title="Subvencionet" data-language-autonym="Shqip" data-language-local-name="Albanian" class="interlanguage-link-target"><span>Shqip</span></a></li><li class="interlanguage-link interwiki-simple mw-list-item"><a href="https://simple.wikipedia.org/wiki/Subsidy" title="Subsidy – Simple English" lang="en-simple" hreflang="en-simple" data-title="Subsidy" data-language-autonym="Simple English" data-language-local-name="Simple English" class="interlanguage-link-target"><span>Simple English</span></a></li><li class="interlanguage-link interwiki-sl mw-list-item"><a href="https://sl.wikipedia.org/wiki/Subvencija" title="Subvencija – Slovenian" lang="sl" hreflang="sl" data-title="Subvencija" data-language-autonym="Slovenščina" data-language-local-name="Slovenian" class="interlanguage-link-target"><span>Slovenščina</span></a></li><li class="interlanguage-link interwiki-fi mw-list-item"><a href="https://fi.wikipedia.org/wiki/Tuki" title="Tuki – Finnish" lang="fi" hreflang="fi" data-title="Tuki" data-language-autonym="Suomi" data-language-local-name="Finnish" class="interlanguage-link-target"><span>Suomi</span></a></li><li class="interlanguage-link interwiki-sv mw-list-item"><a href="https://sv.wikipedia.org/wiki/Subvention" title="Subvention – Swedish" lang="sv" hreflang="sv" data-title="Subvention" data-language-autonym="Svenska" data-language-local-name="Swedish" class="interlanguage-link-target"><span>Svenska</span></a></li><li class="interlanguage-link interwiki-tt mw-list-item"><a href="https://tt.wikipedia.org/wiki/%D0%A1%D1%83%D0%B1%D1%81%D0%B8%D0%B4%D0%B8%D1%8F" title="Субсидия – Tatar" lang="tt" hreflang="tt" data-title="Субсидия" data-language-autonym="Татарча / tatarça" data-language-local-name="Tatar" class="interlanguage-link-target"><span>Татарча / tatarça</span></a></li><li class="interlanguage-link interwiki-th mw-list-item"><a href="https://th.wikipedia.org/wiki/%E0%B9%80%E0%B8%87%E0%B8%B4%E0%B8%99%E0%B8%AD%E0%B8%B8%E0%B8%94%E0%B8%AB%E0%B8%99%E0%B8%B8%E0%B8%99" title="เงินอุดหนุน – Thai" lang="th" hreflang="th" data-title="เงินอุดหนุน" data-language-autonym="ไทย" data-language-local-name="Thai" class="interlanguage-link-target"><span>ไทย</span></a></li><li class="interlanguage-link interwiki-tg mw-list-item"><a href="https://tg.wikipedia.org/wiki/%D0%9A%D3%AF%D0%BC%D0%B0%D0%BA%D0%B8_%D0%BC%D0%BE%D0%BB%D0%B8%D1%8F%D0%B2%D3%A3_(%D1%81%D1%83%D0%B1%D1%81%D0%B8%D0%B4%D0%B8%D1%8F)" title="Кӯмаки молиявӣ (субсидия) – Tajik" lang="tg" hreflang="tg" data-title="Кӯмаки молиявӣ (субсидия)" data-language-autonym="Тоҷикӣ" data-language-local-name="Tajik" class="interlanguage-link-target"><span>Тоҷикӣ</span></a></li><li class="interlanguage-link interwiki-tr mw-list-item"><a href="https://tr.wikipedia.org/wiki/S%C3%BCbvansiyon" title="Sübvansiyon – Turkish" lang="tr" hreflang="tr" data-title="Sübvansiyon" data-language-autonym="Türkçe" data-language-local-name="Turkish" class="interlanguage-link-target"><span>Türkçe</span></a></li><li class="interlanguage-link interwiki-uk mw-list-item"><a href="https://uk.wikipedia.org/wiki/%D0%A1%D1%83%D0%B1%D1%81%D0%B8%D0%B4%D1%96%D1%8F" title="Субсидія – Ukrainian" lang="uk" hreflang="uk" data-title="Субсидія" data-language-autonym="Українська" data-language-local-name="Ukrainian" class="interlanguage-link-target"><span>Українська</span></a></li><li class="interlanguage-link interwiki-vi mw-list-item"><a href="https://vi.wikipedia.org/wiki/Tr%E1%BB%A3_c%E1%BA%A5p" title="Trợ cấp – Vietnamese" lang="vi" hreflang="vi" data-title="Trợ cấp" data-language-autonym="Tiếng Việt" data-language-local-name="Vietnamese" class="interlanguage-link-target"><span>Tiếng Việt</span></a></li><li class="interlanguage-link interwiki-zh-yue mw-list-item"><a href="https://zh-yue.wikipedia.org/wiki/%E6%B4%A5%E8%B2%BC" title="津貼 – Cantonese" lang="yue" hreflang="yue" data-title="津貼" data-language-autonym="粵語" data-language-local-name="Cantonese" class="interlanguage-link-target"><span>粵語</span></a></li><li class="interlanguage-link interwiki-zh mw-list-item"><a href="https://zh.wikipedia.org/wiki/%E8%A3%9C%E8%B2%BC" title="補貼 – Chinese" lang="zh" 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<div id="mw-content-text" class="mw-body-content"><div class="mw-content-ltr mw-parser-output" lang="en" dir="ltr"><div class="shortdescription nomobile noexcerpt noprint searchaux" style="display:none">Financial support to an economic sector</div> <p class="mw-empty-elt"> </p> <style data-mw-deduplicate="TemplateStyles:r1236090951">.mw-parser-output .hatnote{font-style:italic}.mw-parser-output div.hatnote{padding-left:1.6em;margin-bottom:0.5em}.mw-parser-output .hatnote i{font-style:normal}.mw-parser-output .hatnote+link+.hatnote{margin-top:-0.5em}@media print{body.ns-0 .mw-parser-output .hatnote{display:none!important}}</style><div role="note" class="hatnote navigation-not-searchable">Not to be confused with <a href="/wiki/Subsidiarity" title="Subsidiarity">Subsidiarity</a> or <a href="/wiki/Subsidiary" title="Subsidiary">Subsidiary</a>.</div> <p>A <b>subsidy</b>, <b>subvention</b> or <b>government incentive</b> is a type of <a href="/wiki/Government_expenditure" class="mw-redirect" title="Government expenditure">government expenditure</a> for individuals and households, as well as businesses with the aim of stabilizing the economy. It ensures that individuals and households are viable by having access to essential goods and services while giving businesses the opportunity to stay afloat and/or competitive. Subsidies not only promote long term economic stability but also help governments to respond to economic shocks during a <a href="/wiki/Recession" title="Recession">recession</a> or in response to unforeseen shocks, such as the <a href="/wiki/COVID-19_pandemic" title="COVID-19 pandemic">COVID-19 pandemic</a>.<sup id="cite_ref-1" class="reference"><a href="#cite_note-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> </p><p>Subsidies take various forms— such as direct government expenditures, <a href="/wiki/Tax_incentives" class="mw-redirect" title="Tax incentives">tax incentives</a>, <a href="/wiki/Soft_loan" title="Soft loan">soft loans</a>, <a href="/wiki/Price_support" title="Price support">price support</a>, and government provision of goods and services.<sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> For instance, the government may distribute direct payment subsidies to individuals and households during an economic downturn in order to help its citizens pay their bills and to stimulate economic activity. Here, subsidies act as an effective financial aid issued when the economy experiences economic hardship.<sup id="cite_ref-3" class="reference"><a href="#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> They can also be a good policy tool to revise market imperfections when rational and competitive firms fail to produce an optimal market outcome. For example, in an <a href="/wiki/Perfect_competition" title="Perfect competition">imperfect market</a> condition, governments can inject subsidies to encourage firms to invest in R&D (research and development). This will not only benefit the firms but also produce some positive externalities such that it benefits the industry in which the firms belong, and most importantly, the society at large.<sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p><p>Although commonly extended from the government, the term subsidy can relate to any type of support – for example from <a href="/wiki/NGOs" class="mw-redirect" title="NGOs">NGOs</a> or as implicit. Subsidies come in various forms including: direct (cash grants, interest-free loans) and indirect (<a href="/wiki/Tax_break" title="Tax break">tax breaks</a>, insurance, low-interest loans, <a href="/wiki/Accelerated_depreciation" title="Accelerated depreciation">accelerated depreciation</a>, rent rebates).<sup id="cite_ref-Haley_and_Haley_2013_5-0" class="reference"><a href="#cite_note-Haley_and_Haley_2013-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-cheapMyers_and_Kent_2001_6-0" class="reference"><a href="#cite_note-cheapMyers_and_Kent_2001-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> Furthermore, they can be broad or narrow, legal or illegal, ethical or unethical. The most common forms of subsidies are those to the producer or the consumer. Producer/production subsidies ensure producers are better off by either supplying <a href="/wiki/Market_price_support" title="Market price support">market price support</a>, direct support, or payments to <a href="/wiki/Factors_of_production" title="Factors of production">factors of production</a>. <sup id="cite_ref-cheapMyers_and_Kent_2001_6-1" class="reference"><a href="#cite_note-cheapMyers_and_Kent_2001-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> Consumer/consumption subsidies commonly reduce the price of goods and services to the consumer. For example, in the US at one time it was cheaper to buy gasoline than bottled water.<sup id="cite_ref-Myers_1998a_7-0" class="reference"><a href="#cite_note-Myers_1998a-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> </p><p>All countries use subsidies via national and sub-national entities through different forms such as tax incentives and direct grants. Likewise, subsidies have an economic influence on both a domestic and international level. On a domestic level, subsidies affect the allocation decision of domestic resources, <a href="/wiki/Income_distribution" title="Income distribution">income distribution</a>, and expenditure productivity. On an international level, subsidies may increase or decrease international interaction and integration through trade.<sup id="cite_ref-8" class="reference"><a href="#cite_note-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> For this reason, having a thorough subsidy policy is essential as its inadequacy can potentially lead to financial hardship and problems for not only the poor or low income individuals but the aggregate economy as a whole.<sup id="cite_ref-9" class="reference"><a href="#cite_note-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> </p><p>At large, subsidies take up a substantial portion of the government and economy. Amongst <a href="/wiki/OECD" title="OECD">OECD</a> countries in 2020, the median of subsidies and other transfers such as social benefits and non-repayable transfers to private and public enterprises was 56.3 percent of total government expenses which was 34.9 percent (weighted average) of GDP in the same year.<sup id="cite_ref-10" class="reference"><a href="#cite_note-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> Yet, the number of subsidy measures in force have been rapidly increasing since 2008.<sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Types">Types</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=1" title="Edit section: Types"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading3"><h3 id="Production_subsidy">Production subsidy</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=2" title="Edit section: Production subsidy"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>A production subsidy encourages suppliers to increase the output of a particular product by partially offsetting the production costs or losses.<sup id="cite_ref-Collins_Dictionary_12-0" class="reference"><a href="#cite_note-Collins_Dictionary-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> The objective of production subsidies is to expand production of a particular product more so that the market would promote but without raising the final price to consumers. This type of subsidy is predominantly found in developed markets.<sup id="cite_ref-cheapMyers_and_Kent_2001_6-2" class="reference"><a href="#cite_note-cheapMyers_and_Kent_2001-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> Other examples of production subsidies include the assistance in the creation of a new firm (<a href="/wiki/Enterprise_Investment_Scheme" title="Enterprise Investment Scheme">Enterprise Investment Scheme</a>), industry (<a href="/wiki/Industrial_policy" title="Industrial policy">industrial policy</a>) and even the development of certain areas (<a href="/wiki/Regional_policy" title="Regional policy">regional policy</a>). Production subsidies are critically discussed in the literature as they can cause many problems including the additional cost of storing the extra produced products, depressing world market prices, and incentivizing producers to <a href="/wiki/Over-produce" class="mw-redirect" title="Over-produce">over-produce</a>, for example, a farmer overproducing in terms of his land's <a href="/wiki/Carrying_capacity" title="Carrying capacity">carrying capacity</a>. </p> <div class="mw-heading mw-heading3"><h3 id="Consumer/consumption_subsidy"><span id="Consumer.2Fconsumption_subsidy"></span>Consumer/consumption subsidy</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=3" title="Edit section: Consumer/consumption subsidy"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>A consumption subsidy is one that subsidizes the behavior of consumers. This type of subsidies are most common in <a href="/wiki/Developing_countries" class="mw-redirect" title="Developing countries">developing countries</a> where governments subsidise such things as food, water, electricity and education on the basis that no matter how impoverished, all should be allowed those most basic requirements.<sup id="cite_ref-cheapMyers_and_Kent_2001_6-3" class="reference"><a href="#cite_note-cheapMyers_and_Kent_2001-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> For example, some governments offer "lifeline" rates for electricity, that is, the first increment of electricity each month is subsidized.<sup id="cite_ref-cheapMyers_and_Kent_2001_6-4" class="reference"><a href="#cite_note-cheapMyers_and_Kent_2001-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> Evidence from recent studies suggests that government expenditures on subsidies remain high in many countries, often amounting to several percentage points of GDP. Subsidization on such a scale implies substantial <a href="/wiki/Opportunity_cost" title="Opportunity cost">opportunity costs</a>. There are at least three compelling reasons for studying government subsidy behavior. First, subsidies are a major instrument of government expenditure policy. Second, on a domestic level, subsidies affect domestic resource allocation decisions, income distribution, and expenditure productivity. A consumer subsidy is a shift in demand as the subsidy is given directly to consumers. </p> <div class="mw-heading mw-heading3"><h3 id="Export_subsidy">Export subsidy</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=4" title="Edit section: Export subsidy"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>An export subsidy is a support from the government for products that are exported, as a means of assisting the country's balance of payments.<sup id="cite_ref-Collins_Dictionary_12-1" class="reference"><a href="#cite_note-Collins_Dictionary-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> <a href="/wiki/Usha_Haley" title="Usha Haley">Usha Haley</a> and <a href="/wiki/George_Haley" title="George Haley">George Haley</a> identified the subsidies to manufacturing industry provided by the Chinese government and how they have altered trade patterns.<sup id="cite_ref-Haley_and_Haley_2013_5-1" class="reference"><a href="#cite_note-Haley_and_Haley_2013-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> Traditionally, economists have argued that subsidies benefit consumers but hurt the subsidizing countries. Haley and Haley provided data to show that over the decade after China joined the <a href="/wiki/World_Trade_Organization" title="World Trade Organization">World Trade Organization</a> industrial subsidies have helped give China an advantage in industries in which they previously enjoyed no comparative advantage such as the steel, glass, paper, auto parts, and solar industries.<sup id="cite_ref-Haley_and_Haley_2013_5-2" class="reference"><a href="#cite_note-Haley_and_Haley_2013-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> China's shores have also collapsed from overfishing and industrialization, which is why the Chinese government heavily subsidizes its fishermen, who sail the world in search of new grounds.<sup id="cite_ref-13" class="reference"><a href="#cite_note-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> </p><p>Export subsidy is known for being abused. For example, some exporters substantially over declare the value of their goods so as to benefit more from the export subsidy. Another method is to export a batch of goods to a foreign country but the same goods will be re-imported by the same trader via a circuitous route and changing the product description so as to obscure their origin. Thus the trader benefits from the export subsidy without creating real trade value to the economy. Export subsidy as such can become a self-defeating and disruptive policy. </p><p>Adam Smith observed that special government subsidies enabled exporters to sell abroad at substantial ongoing losses. He did not regard that as a sound and sustainable policy. That was because "… under normal industrial-commercial conditions their own interests soon oblige loss-making businesses to deploy their capital in other ways – or to move into markets where the sales prices do cover the supply costs and yield ordinary profits. Like other mercantilist schemes and devices, export bounties are a means of trying to force business capital into channels it would not naturally enter. The schemes are invariably costly and damaging in various ways."<sup id="cite_ref-14" class="reference"><a href="#cite_note-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Import_subsidy">Import subsidy</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=5" title="Edit section: Import subsidy"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>An import subsidy is support from the government for products that are imported. Rarer than an export subsidy, an import subsidy further reduces the price to consumers for imported goods. Import subsidies have various effects depending on the subject. For example, consumers in the importing country are better off and experience an increase in consumer welfare due to the decrease in price of the imported goods, as well as the decrease in price of the domestic substitute goods. Conversely, the consumers in the exporting country experience a decrease in consumer welfare due to an increase in the price of their domestic goods. Furthermore, producers of the importing country experience a loss of welfare due to a decrease in the price for the goods in their market, while on the other side, the exporters of the producing country experience an increase in well-being due to the increase in demand. Ultimately, the import subsidy is rarely used due to an overall loss of welfare for the country due to a decrease in domestic production and a reduction in production throughout the world. However, that can result in a redistribution of income.<sup id="cite_ref-15" class="reference"><a href="#cite_note-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Employment_subsidy">Employment subsidy</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=6" title="Edit section: Employment subsidy"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Employment or wage subsidies keep the employment relationship ongoing even during financial crisis. It is particularly beneficial for enterprises to recover quickly after a temporary suspension following a crisis. Workers are prevented from losing their jobs and other associated employment benefits such as annual leave entitlements and retirement pensions.<sup id="cite_ref-16" class="reference"><a href="#cite_note-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> </p><p>Employment subsidies allow individual beneficiaries a minimum standard of living at the very least. However, less than half of active jobseekers in around 50% of OECD countries receive unemployment support.<sup id="cite_ref-17" class="reference"><a href="#cite_note-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> The effect of employment subsidies may not be evident immediately. When employers received grants to subside a substantial part of the wages for retaining their employees or to create new jobs during severe recessions such as the 2008 GFC (Global Financial Crisis), there were minor impacts on employment during the first year. However, the subsidy began to yield positive effects on employment, particularly a decrease in the unemployment rate, in the second year as employers began to properly utilise the subsidy.<sup id="cite_ref-18" class="reference"><a href="#cite_note-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Tax_subsidy">Tax subsidy</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=7" title="Edit section: Tax subsidy"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Tax subsidies, also known as tax breaks or <a href="/wiki/Tax_expenditures" class="mw-redirect" title="Tax expenditures">tax expenditures</a>, are a way for governments to achieve certain outcomes without directly providing cash payments. By offering tax breaks, the government can incentivize behavior that is beneficial to the economy or society as a whole. However, tax subsidies can also have negative consequences. </p><p>One type of tax subsidy is a health tax deduction, which allows individuals or businesses to deduct their health expenses from their taxable income. This can be seen as a way to incentivize people to prioritize their health and well-being. However, it can also create distortions in the economy by encouraging people to spend more on health care than they otherwise would. </p><p>Another type of tax subsidy is related to <a href="/wiki/Intellectual_Property" class="mw-redirect" title="Intellectual Property">Intellectual Property</a>. <a href="/wiki/Base_Erosion_and_Profit_Shifting" class="mw-redirect" title="Base Erosion and Profit Shifting">Base Erosion and Profit Shifting</a> (BEPS) is a particular form of tax subsidy that involves companies shifting their profits to low-tax jurisdictions in order to reduce their overall tax burden. The <a href="/wiki/Multilateral_Convention_to_Implement_Tax_Treaty_Related_Measures_to_Prevent_Base_Erosion_and_Profit_Shifting" title="Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting">Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting</a> is a treaty signed by half the nations of the world aimed at preventing this type of tax avoidance. </p><p>While tax subsidies can be effective in achieving certain outcomes, they are also less transparent than direct cash payments and can be difficult to undo. Additionally, some argue that tax breaks disproportionately benefit the wealthy and large corporations, further exacerbating income inequality. Therefore, it is important for governments to carefully consider the potential consequences of offering tax subsidies and ensure that they are targeted towards achieving the greatest public good. </p><p>Furthermore, tax subsidies can have unintended consequences, such as creating market distortions that favor certain industries or companies over others. For example, if a government offers tax breaks to incentivize investment in renewable energy, it may lead to a glut of renewable energy projects and an oversupply of energy in the market. This, in turn, can lead to lower prices for energy and financial losses for investors. </p><p>In addition, tax subsidies can be difficult to monitor and enforce, which can lead to abuse and fraud. Companies may claim tax breaks for activities that do not qualify, or may use complex legal structures to shift profits to lower tax jurisdictions. This can result in lost revenue for governments and a lack of fairness in the tax system. </p><p>Despite these concerns, tax subsidies remain a popular tool for governments to promote various policy objectives, such as economic growth, job creation, and <a href="/wiki/Environmental_sustainability" class="mw-redirect" title="Environmental sustainability">environmental sustainability</a>. The use of tax subsidies is often debated in political circles, with some arguing that they are necessary to support certain industries or to incentivize certain behaviors, while others argue that they create inefficiencies and distortions in the economy. </p><p>In conclusion, tax subsidies are a powerful tool for governments to achieve policy goals, but they come with their own set of challenges and limitations. It is important for policymakers to carefully consider the potential unintended consequences of tax subsidies and to design them in a way that maximizes their benefits while minimizing their costs. Additionally, strong monitoring and enforcement mechanisms are needed to ensure that tax subsidies are used appropriately and do not result in abuse or fraud. </p> <div class="mw-heading mw-heading3"><h3 id="Transport_subsidies">Transport subsidies</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=8" title="Edit section: Transport subsidies"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Some governments subsidise transport, especially rail and bus transport, which decrease congestion and pollution compared to cars. In the EU, <a href="/wiki/Rail_subsidies" title="Rail subsidies">rail subsidies</a> are around €73 billion, and Chinese subsidies reach $130 billion.<sup id="cite_ref-19" class="reference"><a href="#cite_note-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-20" class="reference"><a href="#cite_note-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> </p><p>Publicly owned airports can be an indirect subsidy if they lose money. The European Union, for instance, criticizes Germany for its high number of money-losing airports that are used primarily by <a href="/wiki/Low_cost_carrier" class="mw-redirect" title="Low cost carrier">low cost carriers</a>, characterizing the arrangement as an illegal subsidy.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (November 2017)">citation needed</span></a></i>]</sup> </p><p>In many countries, roads and highways are paid for through general revenue, rather than tolls or other dedicated sources that are paid only by road users, creating an indirect subsidy for road transportation. The fact that long-distance buses in Germany do not pay tolls has been called an indirect subsidy by critics, who point to track access charges for railways. </p> <div class="mw-heading mw-heading3"><h3 id="Energy_subsidies">Energy subsidies</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=9" title="Edit section: Energy subsidies"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="excerpt-block"><style data-mw-deduplicate="TemplateStyles:r1066933788">.mw-parser-output .excerpt-hat .mw-editsection-like{font-style:normal}</style><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable dablink excerpt-hat selfref">This section is an excerpt from <a href="/wiki/Energy_subsidy" title="Energy subsidy">Energy subsidy</a>.<span class="mw-editsection-like plainlinks"><span class="mw-editsection-bracket">[</span><a class="external text" href="https://en.wikipedia.org/w/index.php?title=Energy_subsidy&action=edit">edit</a><span class="mw-editsection-bracket">]</span></span></div><div class="excerpt"> <p><a href="/wiki/Energy_subsidy" title="Energy subsidy">Energy subsidies</a> are measures that keep prices for customers below market levels, or for suppliers above market levels, or reduce costs for customers and suppliers.<sup id="cite_ref-Energy_subsidy_Nature1_21-0" class="reference"><a href="#cite_note-Energy_subsidy_Nature1-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-22" class="reference"><a href="#cite_note-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> Energy subsidies may be direct cash transfers to suppliers, customers, or related bodies, as well as indirect support mechanisms, such as <a href="/wiki/Tax_exemption" title="Tax exemption">tax exemptions</a> and <a href="/wiki/Tax_refund" title="Tax refund">rebates</a>, <a href="/wiki/Price_controls" title="Price controls">price controls</a>, <a href="/wiki/Trade_restriction" title="Trade restriction">trade restrictions</a>, and limits on <a href="/wiki/Market_access" title="Market access">market access</a>. </p><p>During FY 2016–22, most US federal subsidies were for renewable energy producers (primarily biofuels, wind, and solar), low-income households, and energy-efficiency improvements. During FY 2016–22, nearly half (46%) of federal energy subsidies were associated with renewable energy, and 35% were associated with energy end uses. Federal support for renewable energy of all types more than doubled, from $7.4 billion in FY 2016 to $15.6 billion in FY 2022.<sup id="cite_ref-23" class="reference"><a href="#cite_note-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> </p> The <a href="/wiki/International_Renewable_Energy_Agency" title="International Renewable Energy Agency">International Renewable Energy Agency</a> tracked some $634 billion in energy-sector subsidies in 2020, and found that around 70% were <a href="/wiki/Fossil_fuel_subsidies" title="Fossil fuel subsidies">fossil fuel subsidies</a>. About 20% went to <a href="/wiki/Renewable_power" class="mw-redirect" title="Renewable power">renewable power generation</a>, 6% to <a href="/wiki/Biofuel" title="Biofuel">biofuels</a> and just over 3% to <a href="/wiki/Nuclear_power" title="Nuclear power">nuclear</a>.<sup id="cite_ref-Energy_subsidy_Nature2_24-0" class="reference"><a href="#cite_note-Energy_subsidy_Nature2-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup></div></div> <div class="mw-heading mw-heading4"><h4 id="Fossil_fuels">Fossil fuels</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=10" title="Edit section: Fossil fuels"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="excerpt-block"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1066933788"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable dablink excerpt-hat selfref">This section is an excerpt from <a href="/wiki/Fossil_fuel_subsidies" title="Fossil fuel subsidies">Fossil fuel subsidies</a>.<span class="mw-editsection-like plainlinks"><span class="mw-editsection-bracket">[</span><a class="external text" href="https://en.wikipedia.org/w/index.php?title=Fossil_fuel_subsidies&action=edit">edit</a><span class="mw-editsection-bracket">]</span></span></div><div class="excerpt"> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Fossil-fuel-subsidies-per-capita.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/4/4b/Fossil-fuel-subsidies-per-capita.svg/300px-Fossil-fuel-subsidies-per-capita.svg.png" decoding="async" width="300" height="212" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/4/4b/Fossil-fuel-subsidies-per-capita.svg/450px-Fossil-fuel-subsidies-per-capita.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/4/4b/Fossil-fuel-subsidies-per-capita.svg/600px-Fossil-fuel-subsidies-per-capita.svg.png 2x" data-file-width="850" data-file-height="600" /></a><figcaption>Fossil-fuel subsidies per capita, 2019. Fossil-fuel pre-tax subsidies per capita are measured in constant US dollars.</figcaption></figure> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Fossil-fuel-subsidies-gdp.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/3/34/Fossil-fuel-subsidies-gdp.svg/300px-Fossil-fuel-subsidies-gdp.svg.png" decoding="async" width="300" height="212" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/3/34/Fossil-fuel-subsidies-gdp.svg/450px-Fossil-fuel-subsidies-gdp.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/3/34/Fossil-fuel-subsidies-gdp.svg/600px-Fossil-fuel-subsidies-gdp.svg.png 2x" data-file-width="850" data-file-height="600" /></a><figcaption>Fossil-fuel subsidies as a share of GDP, 2019. Fossil-fuel pre-tax subsidies are given as a share of total gross domestic product.</figcaption></figure> <p><a href="/wiki/Fossil_fuel_subsidies" title="Fossil fuel subsidies">Fossil fuel subsidies</a> are <a href="/wiki/Energy_subsidy" title="Energy subsidy">energy subsidies</a> on <a href="/wiki/Fossil_fuel" title="Fossil fuel">fossil fuels</a>. They may be <a href="/wiki/Tax_break" title="Tax break">tax breaks</a> on <a href="/wiki/Consumption_(economics)" title="Consumption (economics)">consumption</a>, such as a lower <a href="/wiki/Sales_tax" title="Sales tax">sales tax</a> on <a href="/wiki/Natural_gas" title="Natural gas">natural gas</a> for <a href="/wiki/Heating,_ventilation,_and_air_conditioning" title="Heating, ventilation, and air conditioning">residential heating</a>; or subsidies on <a href="/wiki/Production_(economics)" title="Production (economics)">production</a>, such as tax breaks on <a href="/wiki/Hydrocarbon_exploration" title="Hydrocarbon exploration">exploration for oil</a>. Or they may be free or cheap <a href="/wiki/Negative_Externalities" class="mw-redirect" title="Negative Externalities">negative externalities</a>; such as <a href="/wiki/Air_pollution" title="Air pollution">air pollution</a> or <a href="/wiki/Climate_change" title="Climate change">climate change</a> due to burning <a href="/wiki/Gasoline" title="Gasoline">gasoline</a>, <a href="/wiki/Diesel_fuel" title="Diesel fuel">diesel</a> and <a href="/wiki/Jet_fuel" title="Jet fuel">jet fuel</a>. Some fossil fuel subsidies are via <a href="/wiki/Electricity_generation" title="Electricity generation">electricity generation</a>, such as subsidies for <a href="/wiki/Coal-fired_power_station" title="Coal-fired power station">coal-fired power stations</a>. </p><p>Eliminating fossil fuel subsidies would reduce the <a href="/wiki/Health_risks_of_air_pollution" class="mw-redirect" title="Health risks of air pollution">health risks of air pollution</a>,<sup id="cite_ref-25" class="reference"><a href="#cite_note-25"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup> and would greatly reduce global <a href="/wiki/Carbon_emissions" class="mw-redirect" title="Carbon emissions">carbon emissions</a> thus helping to <a href="/wiki/Climate_change_mitigation" title="Climate change mitigation">limit climate change</a>.<sup id="cite_ref-26" class="reference"><a href="#cite_note-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup> As of 2021<sup class="plainlinks noexcerpt noprint asof-tag update" style="display:none;"><a class="external text" href="https://en.wikipedia.org/w/index.php?title=Subsidy&action=edit">[update]</a></sup>, policy researchers estimate that substantially more money is spent on fossil fuel subsidies than on environmentally harmful <a href="/wiki/Agricultural_subsidy" title="Agricultural subsidy">agricultural subsidies</a> or environmentally harmful <a href="/wiki/Water_subsidies" class="mw-redirect" title="Water subsidies">water subsidies</a>.<sup id="cite_ref-27" class="reference"><a href="#cite_note-27"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup> The <a href="/wiki/International_Energy_Agency" title="International Energy Agency">International Energy Agency</a> says: "High fossil fuel prices hit the poor hardest, but subsidies are rarely well-targeted to protect vulnerable groups and tend to benefit better-off segments of the population."<sup id="cite_ref-Fossil_fuel_subsidies_:7_28-0" class="reference"><a href="#cite_note-Fossil_fuel_subsidies_:7-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> </p> Despite the <a href="/wiki/G20" title="G20">G20</a> countries having pledged to phase-out inefficient fossil fuel subsidies,<sup id="cite_ref-29" class="reference"><a href="#cite_note-29"><span class="cite-bracket">[</span>29<span class="cite-bracket">]</span></a></sup> as of 2023<sup class="plainlinks noexcerpt noprint asof-tag update" style="display:none;"><a class="external text" href="https://en.wikipedia.org/w/index.php?title=Subsidy&action=edit">[update]</a></sup> they continue because of voter demand,<sup id="cite_ref-30" class="reference"><a href="#cite_note-30"><span class="cite-bracket">[</span>30<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Fossil_fuel_subsidies_:8_31-0" class="reference"><a href="#cite_note-Fossil_fuel_subsidies_:8-31"><span class="cite-bracket">[</span>31<span class="cite-bracket">]</span></a></sup> or for <a href="/wiki/Energy_security" title="Energy security">energy security</a>.<sup id="cite_ref-Fossil_fuel_subsidies_:1_32-0" class="reference"><a href="#cite_note-Fossil_fuel_subsidies_:1-32"><span class="cite-bracket">[</span>32<span class="cite-bracket">]</span></a></sup> Global fossil fuel consumption subsidies in 2022 have been estimated at one trillion dollars;<sup id="cite_ref-Fossil_fuel_subsidies_:7_28-1" class="reference"><a href="#cite_note-Fossil_fuel_subsidies_:7-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> although they vary each year depending on <a href="/wiki/Price_of_oil" title="Price of oil">oil prices</a>, they are consistently hundreds of billions of dollars.<sup id="cite_ref-Fossil_fuel_subsidies_:5_33-0" class="reference"><a href="#cite_note-Fossil_fuel_subsidies_:5-33"><span class="cite-bracket">[</span>33<span class="cite-bracket">]</span></a></sup></div></div> <div class="mw-heading mw-heading3"><h3 id="Housing_subsidies">Housing subsidies</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=11" title="Edit section: Housing subsidies"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Housing subsidies are designed to promote the construction industry and homeownership. As of 2018, U.S housing subsidies total around $15 billion per year. Housing subsidies can come in two types; assistance with down payment and interest rate subsidies. The deduction of mortgage interest from the federal income tax accounts for the largest interest rate subsidy. Additionally, the federal government will help low-income families with the down payment, coming to $10.9 million in 2008.<sup id="cite_ref-amad_34-0" class="reference"><a href="#cite_note-amad-34"><span class="cite-bracket">[</span>34<span class="cite-bracket">]</span></a></sup> </p><p>As a housing policy tool, housing subsidies also help low income individuals gain and maintain liveable residency by easing the cost burdens of housing for low income individuals and households. However, some policy makers and experts believe they are costly to implement and may even reduce incentives for beneficiaries to participate in the labour market. In the contrary, certain literatures have found that subsidy cuts do not encourage employment or participation among beneficiaries. For example, research by Daniel Borbely found that reducing housing subsidies did not increase employment and labour force participation. Though, he also added that claimants relocated to other areas of the rental market to maintain their benefits.<sup id="cite_ref-35" class="reference"><a href="#cite_note-35"><span class="cite-bracket">[</span>35<span class="cite-bracket">]</span></a></sup> </p><p>Nonetheless, the most common method for providing housing subsidies is via direct payments to renters by covering a part of their rent on the private rent market. This method of direct transfer of housing subsidies is often referred to as "housing vouchers". In the United States, the so-called Section 8 is a direct payment program subsidising the largest amount of money to renters for rental assistance.<sup id="cite_ref-36" class="reference"><a href="#cite_note-36"><span class="cite-bracket">[</span>36<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Environmental_externalities">Environmental externalities</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=12" title="Edit section: Environmental externalities"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Climate_change_mitigation" title="Climate change mitigation">Climate change mitigation</a>, <a href="/wiki/Environmental_economics" title="Environmental economics">Environmental economics</a>, and <a href="/wiki/Environmental_protection" title="Environmental protection">Environmental protection</a></div> <p>While conventional subsidies require financial support, many economists have described implicit subsidies in the form of <a href="/wiki/Pigovian_tax" class="mw-redirect" title="Pigovian tax">untaxed</a> environmental <a href="/wiki/Externality" title="Externality">externalities</a>.<sup id="cite_ref-Myers_1998a_7-1" class="reference"><a href="#cite_note-Myers_1998a-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> These externalities include things such as pollution from vehicle emissions, <a href="/wiki/Pesticides" class="mw-redirect" title="Pesticides">pesticides</a>, or other sources. </p><p>A 2015 report studied the implicit subsidies accruing to 20 fossil fuel companies. It estimated that the societal costs from downstream emissions and pollution attributable to these companies were substantial.<sup id="cite_ref-hope-etal-2015_37-0" class="reference"><a href="#cite_note-hope-etal-2015-37"><span class="cite-bracket">[</span>37<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-judge-business-school-2015_38-0" class="reference"><a href="#cite_note-judge-business-school-2015-38"><span class="cite-bracket">[</span>38<span class="cite-bracket">]</span></a></sup> The report spans the period 2008–2012 and notes that: "for all companies and all years, the economic cost to society of their CO<sub style="font-size: 80%;vertical-align: -0.35em">2</sub> emissions was greater than their after‐tax profit, with the single exception of <a href="/wiki/ExxonMobil" title="ExxonMobil">ExxonMobil</a> in 2008."<sup id="cite_ref-hope-etal-2015_37-1" class="reference"><a href="#cite_note-hope-etal-2015-37"><span class="cite-bracket">[</span>37<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 4">: 4 </span></sup> Pure coal companies fare even worse: "the economic cost to society exceeds total revenue (employment, taxes, supply purchases, and indirect employment) in all years, with this cost varying between nearly $2 and nearly $9 per $1 of revenue."<sup id="cite_ref-hope-etal-2015_37-2" class="reference"><a href="#cite_note-hope-etal-2015-37"><span class="cite-bracket">[</span>37<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page / location: 4–5">: 4–5 </span></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Categorising_subsidies">Categorising subsidies</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=13" title="Edit section: Categorising subsidies"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading3"><h3 id="Direct_and_indirect">Direct and indirect</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=14" title="Edit section: Direct and indirect"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The first important classification of subsidies are direct and indirect subsidies. Subsidies are categorised as direct when it involves actual cash outlays targeted towards a specified individual or household. Popular examples includes cash grants and interest-free loans. Subsidies can also be classified as indirect when they do not involve actual payments. An example would be an increase in disposable income arising from a decrease in price of an essential good or service that the government has enforced in a form of monetary support. In contrast, a decrease in the price of a good or service may lead to an increase in revenue for producers earned from the heightened demand by consumers.<sup id="cite_ref-39" class="reference"><a href="#cite_note-39"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup> </p><p>The use of indirect subsidies such as price controls is widespread among developing economies and emerging markets as a necessary tool for social policy. It has proven to be effective in many cases but price controls have a potential to dampen investment activity and growth, cause heavy fiscal burdens for the government, and may even complicate the optimal performance of monetary policy. To prevent the undesirable negative effects, price control regimes may be replaced by creating social safety nets and proposing sound reforms to encourage competition and growth.<sup id="cite_ref-40" class="reference"><a href="#cite_note-40"><span class="cite-bracket">[</span>40<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Production_and_consumption">Production and consumption</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=15" title="Edit section: Production and consumption"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Another important classification of subsidies are producer/production subsidies and consumer/consumption subsidies. Production subsidies are designed to ensure producers are advantaged by creating fluid market activity through other market control mechanisms or by providing cash payments for factors of production. Consumption subsidies benefit consumers typically through a reduction in the market price of goods and services. They are commonly used by governments of many developing countries in an attempt to secure the most basic needs for its population.<sup id="cite_ref-41" class="reference"><a href="#cite_note-41"><span class="cite-bracket">[</span>41<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Broad_and_narrow">Broad and narrow</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=16" title="Edit section: Broad and narrow"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>These various subsidies can be divided into broad and narrow. Narrow subsidies are those monetary transfers that are easily identifiable and have a clear intent. They are commonly characterised by a monetary transfer between governments and institutions or businesses and individuals. A classic example is a government payment to a farmer.<sup id="cite_ref-Myers_2008_42-0" class="reference"><a href="#cite_note-Myers_2008-42"><span class="cite-bracket">[</span>42<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Monetary_and_non-monetary">Monetary and non-monetary</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=17" title="Edit section: Monetary and non-monetary"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Conversely broad subsidies include both monetary and non-monetary subsidies and is often difficult to identify.<sup id="cite_ref-Myers_2008_42-1" class="reference"><a href="#cite_note-Myers_2008-42"><span class="cite-bracket">[</span>42<span class="cite-bracket">]</span></a></sup> A broad subsidy is less attributable and less transparent. Environmental externalities are the most common type of broad subsidy. </p> <div class="mw-heading mw-heading2"><h2 id="Economic_effects">Economic effects</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=18" title="Edit section: Economic effects"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Subsidy-_visualization.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/9/9e/Subsidy-_visualization.jpg/370px-Subsidy-_visualization.jpg" decoding="async" width="370" height="246" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/9e/Subsidy-_visualization.jpg/555px-Subsidy-_visualization.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/9e/Subsidy-_visualization.jpg/740px-Subsidy-_visualization.jpg 2x" data-file-width="850" data-file-height="564" /></a><figcaption></figcaption></figure> <p>Competitive equilibrium is a state of balance between buyers and suppliers, in which the quantity demanded of a good is the quantity supplied at a specified price. When the price falls the quantity demand exceeds the equilibrium quantity, conversely, a reduction in the supply of a good beyond equilibrium quantity implies an increase in the price. The effect of a subsidy is to shift the supply or demand curve to the right (i.e. increases the supply or demand) by the amount of the subsidy. If a consumer is receiving the subsidy, a lower price of a good resulting from the marginal subsidy on consumption increases demand, shifting the demand curve to the right. If a supplier is receiving the subsidy, an increase in the price (revenue) resulting from the marginal subsidy on production results increases supply, shifting the supply curve to the right. </p> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Subsidy_-_visualization_2.tiff" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/f/f5/Subsidy_-_visualization_2.tiff/lossless-page1-370px-Subsidy_-_visualization_2.tiff.png" decoding="async" width="370" height="242" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f5/Subsidy_-_visualization_2.tiff/lossless-page1-555px-Subsidy_-_visualization_2.tiff.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/f5/Subsidy_-_visualization_2.tiff/lossless-page1-740px-Subsidy_-_visualization_2.tiff.png 2x" data-file-width="741" data-file-height="485" /></a><figcaption></figcaption></figure> <p>Assuming the market is in a perfectly competitive equilibrium, a subsidy increases the supply of the good beyond the equilibrium competitive quantity. The imbalance creates deadweight loss. Deadweight loss from a subsidy is the amount by which the cost of the subsidy exceeds the gains of the subsidy.<sup id="cite_ref-watkins_43-0" class="reference"><a href="#cite_note-watkins-43"><span class="cite-bracket">[</span>43<span class="cite-bracket">]</span></a></sup> The magnitude of the deadweight loss is dependent on the size of the subsidy. This is considered a <a href="/wiki/Market_failure" title="Market failure">market failure</a>, or inefficiency.<sup id="cite_ref-watkins_43-1" class="reference"><a href="#cite_note-watkins-43"><span class="cite-bracket">[</span>43<span class="cite-bracket">]</span></a></sup> </p><p>Subsidies targeted at goods in one country, by lowering the price of those goods, make them more competitive against foreign goods, thereby reducing foreign competition.<sup id="cite_ref-Kolb_2008_44-0" class="reference"><a href="#cite_note-Kolb_2008-44"><span class="cite-bracket">[</span>44<span class="cite-bracket">]</span></a></sup> As a result, many developing countries cannot engage in foreign trade, and receive lower prices for their products in the global market. This is considered protectionism: a government policy to erect trade barriers in order to protect domestic industries.<sup id="cite_ref-45" class="reference"><a href="#cite_note-45"><span class="cite-bracket">[</span>45<span class="cite-bracket">]</span></a></sup> The problem with <a href="/wiki/Protectionism" title="Protectionism">protectionism</a> arises when industries are selected for nationalistic reasons (infant-industry), rather than to gain a comparative advantage. The market distortion, and reduction in social welfare, is the logic behind the World Bank policy for the removal of subsidies in developing countries.<sup id="cite_ref-Ameg_46-0" class="reference"><a href="#cite_note-Ameg-46"><span class="cite-bracket">[</span>46<span class="cite-bracket">]</span></a></sup> </p><p>Subsidies create spillover effects in other economic sectors and industries. A subsidized product sold in the world market lowers the price of the good in other countries. Since subsidies result in lower revenues for producers of foreign countries, they are a source of tension between the United States, Europe and poorer developing countries.<sup id="cite_ref-Parkin_et_al._2007_47-0" class="reference"><a href="#cite_note-Parkin_et_al._2007-47"><span class="cite-bracket">[</span>47<span class="cite-bracket">]</span></a></sup> While subsidies may provide immediate benefits to an industry, in the long-run they may prove to have unethical, negative effects. Subsidies are intended to support public interest, however, they can violate ethical or legal principles if they lead to higher consumer prices or discriminate against some producers to benefit others.<sup id="cite_ref-Kolb_2008_44-1" class="reference"><a href="#cite_note-Kolb_2008-44"><span class="cite-bracket">[</span>44<span class="cite-bracket">]</span></a></sup> For example, domestic subsidies granted by individual US states may be unconstitutional if they discriminate against out-of-state producers, violating the Privileges and Immunities Clause or the Dormant Commerce Clause of the United States Constitution.<sup id="cite_ref-Kolb_2008_44-2" class="reference"><a href="#cite_note-Kolb_2008-44"><span class="cite-bracket">[</span>44<span class="cite-bracket">]</span></a></sup> Depending on their nature, subsidies are discouraged by international trade agreements such as the World Trade Organization (WTO). This trend, however, may change in the future, as needs of sustainable development and environmental protection could suggest different interpretations regarding energy and <a href="/wiki/Renewable_energy_subsidies" class="mw-redirect" title="Renewable energy subsidies">renewable energy subsidies</a>.<sup id="cite_ref-48" class="reference"><a href="#cite_note-48"><span class="cite-bracket">[</span>48<span class="cite-bracket">]</span></a></sup> In its July 2019 report, "<a rel="nofollow" class="external text" href="http://www.oecd.org/economy/going-for-growth/">Going for Growth 2019: The time for reform is now</a>", the <a href="/wiki/OECD" title="OECD">OECD</a> suggests that countries make better use of environmental taxation, phase out agricultural subsidies and environmentally harmful tax breaks.<sup id="cite_ref-49" class="reference"><a href="#cite_note-49"><span class="cite-bracket">[</span>49<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-50" class="reference"><a href="#cite_note-50"><span class="cite-bracket">[</span>50<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Preventing_fraud">Preventing fraud</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=19" title="Edit section: Preventing fraud"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In the Netherlands, <a href="/wiki/Audit_management" title="Audit management">audits</a> are performed to verify whether the funds that have been received has indeed been spent legally (and all requirements of the subsidy provider have been attained), for the purpose intended.<sup id="cite_ref-51" class="reference"><a href="#cite_note-51"><span class="cite-bracket">[</span>51<span class="cite-bracket">]</span></a></sup> It hence prevents <a href="/wiki/Anti-corruption" title="Anti-corruption">fraud</a>. </p> <div class="mw-heading mw-heading2"><h2 id="Perverse_subsidies">Perverse subsidies</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=20" title="Edit section: Perverse subsidies"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1251242444">.mw-parser-output .ambox{border:1px solid #a2a9b1;border-left:10px solid #36c;background-color:#fbfbfb;box-sizing:border-box}.mw-parser-output .ambox+link+.ambox,.mw-parser-output .ambox+link+style+.ambox,.mw-parser-output .ambox+link+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+style+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+link+.ambox{margin-top:-1px}html body.mediawiki .mw-parser-output .ambox.mbox-small-left{margin:4px 1em 4px 0;overflow:hidden;width:238px;border-collapse:collapse;font-size:88%;line-height:1.25em}.mw-parser-output .ambox-speedy{border-left:10px solid #b32424;background-color:#fee7e6}.mw-parser-output .ambox-delete{border-left:10px solid #b32424}.mw-parser-output .ambox-content{border-left:10px solid #f28500}.mw-parser-output .ambox-style{border-left:10px solid #fc3}.mw-parser-output .ambox-move{border-left:10px solid #9932cc}.mw-parser-output .ambox-protection{border-left:10px solid #a2a9b1}.mw-parser-output .ambox .mbox-text{border:none;padding:0.25em 0.5em;width:100%}.mw-parser-output .ambox .mbox-image{border:none;padding:2px 0 2px 0.5em;text-align:center}.mw-parser-output .ambox .mbox-imageright{border:none;padding:2px 0.5em 2px 0;text-align:center}.mw-parser-output .ambox .mbox-empty-cell{border:none;padding:0;width:1px}.mw-parser-output .ambox .mbox-image-div{width:52px}@media(min-width:720px){.mw-parser-output .ambox{margin:0 10%}}@media print{body.ns-0 .mw-parser-output .ambox{display:none!important}}</style><table class="box-POV plainlinks metadata ambox ambox-content ambox-POV" role="presentation"><tbody><tr><td class="mbox-image"><div class="mbox-image-div"><span class="skin-invert" typeof="mw:File"><span><img src="//upload.wikimedia.org/wikipedia/commons/thumb/f/fe/Unbalanced_scales.svg/45px-Unbalanced_scales.svg.png" decoding="async" width="45" height="40" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/fe/Unbalanced_scales.svg/68px-Unbalanced_scales.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/fe/Unbalanced_scales.svg/90px-Unbalanced_scales.svg.png 2x" data-file-width="400" data-file-height="354" /></span></span></div></td><td class="mbox-text"><div class="mbox-text-span">The <b><a href="/wiki/Wikipedia:Neutral_point_of_view" title="Wikipedia:Neutral point of view">neutrality</a> of this section is <a href="/wiki/Wikipedia:NPOV_dispute" title="Wikipedia:NPOV dispute">disputed</a></b>.<span class="hide-when-compact"> Relevant discussion may be found on the <a href="/wiki/Talk:Subsidy##" title="Talk:Subsidy">talk page</a>. Please do not remove this message until <a href="/wiki/Template:POV#When_to_remove" title="Template:POV">conditions to do so are met</a>.</span> <span class="date-container"><i>(<span class="date">September 2019</span>)</i></span><span class="hide-when-compact"><i> (<small><a href="/wiki/Help:Maintenance_template_removal" title="Help:Maintenance template removal">Learn how and when to remove this message</a></small>)</i></span></div></td></tr></tbody></table> <div class="mw-heading mw-heading3"><h3 id="Definitions">Definitions</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=21" title="Edit section: Definitions"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Although subsidies can be important, many are "<a href="/wiki/Perverse_incentive" title="Perverse incentive">perverse</a>", in the sense of having adverse <a href="/wiki/Unintended_consequences" title="Unintended consequences">unintended consequences</a>. To be "perverse", subsidies must exert effects that are demonstrably and significantly adverse both economically and environmentally.<sup id="cite_ref-cheapMyers_and_Kent_2001_6-5" class="reference"><a href="#cite_note-cheapMyers_and_Kent_2001-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> A subsidy rarely, if ever, starts perverse, but over time a legitimate efficacious subsidy can become perverse or illegitimate if it is not withdrawn after meeting its goal or as political goals change. Perverse subsidies are now so widespread that as of 2007 they amounted $2 trillion per year in the six most subsidised sectors alone (agriculture, fossil fuels, road transportation, water, fisheries and forestry).<sup id="cite_ref-Myers_2007_52-0" class="reference"><a href="#cite_note-Myers_2007-52"><span class="cite-bracket">[</span>52<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Effects">Effects</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=22" title="Edit section: Effects"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The detrimental effects of perverse subsidies are diverse in nature and reach. Case-studies from differing sectors are highlighted below but can be summarised as follows. </p><p>Directly, they are expensive to governments by directing resources away from other legitimate should priorities (such as environmental conservation, education, health, or infrastructure),<sup id="cite_ref-NakedCapitalism-2014-06-03_53-0" class="reference"><a href="#cite_note-NakedCapitalism-2014-06-03-53"><span class="cite-bracket">[</span>53<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Myers_2008_42-2" class="reference"><a href="#cite_note-Myers_2008-42"><span class="cite-bracket">[</span>42<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-James_1999_54-0" class="reference"><a href="#cite_note-James_1999-54"><span class="cite-bracket">[</span>54<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Robin_et_al_2003_55-0" class="reference"><a href="#cite_note-Robin_et_al_2003-55"><span class="cite-bracket">[</span>55<span class="cite-bracket">]</span></a></sup> ultimately reducing the fiscal health of the government.<sup id="cite_ref-McDonald_2000_56-0" class="reference"><a href="#cite_note-McDonald_2000-56"><span class="cite-bracket">[</span>56<span class="cite-bracket">]</span></a></sup> </p><p>Indirectly, they cause <a href="/wiki/Environmental_degradation" title="Environmental degradation">environmental degradation</a> (<a href="/wiki/Exploitation_of_natural_resources" title="Exploitation of natural resources">exploitation of resources</a>, pollution, loss of landscape, misuse and overuse of supplies) which, as well as its fundamental damage, acts as a further brake on economies; tend to benefit the few at the expense of the many, and the rich at the expense of the poor; lead to further polarization of development between the Northern and Southern hemispheres; lower global market prices; and undermine investment decisions reducing the pressure on businesses to become more efficient.<sup id="cite_ref-Myers_1998a_7-2" class="reference"><a href="#cite_note-Myers_1998a-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Robin_et_al_2003_55-1" class="reference"><a href="#cite_note-Robin_et_al_2003-55"><span class="cite-bracket">[</span>55<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-van_beers_and_van_den_bergh_2009_57-0" class="reference"><a href="#cite_note-van_beers_and_van_den_bergh_2009-57"><span class="cite-bracket">[</span>57<span class="cite-bracket">]</span></a></sup> Over time the latter effect means support becomes enshrined in human behaviour and business decisions to the point where people become reliant on, even addicted to, subsidies, "locking" them into society.<sup id="cite_ref-van_beers_and_de_moor_1998_58-0" class="reference"><a href="#cite_note-van_beers_and_de_moor_1998-58"><span class="cite-bracket">[</span>58<span class="cite-bracket">]</span></a></sup> </p><p>Consumer attitudes do not change and become out-of-date, off-target and inefficient;<sup id="cite_ref-Myers_1998a_7-3" class="reference"><a href="#cite_note-Myers_1998a-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> furthermore, over time people feel a sense of historical right to them.<sup id="cite_ref-van_beers_and_van_den_bergh_2009_57-1" class="reference"><a href="#cite_note-van_beers_and_van_den_bergh_2009-57"><span class="cite-bracket">[</span>57<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Implementation">Implementation</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=23" title="Edit section: Implementation"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Perverse subsidies are not tackled as robustly as they should be. Principally, this is because they become "locked" into society, causing bureaucratic roadblocks and institutional inertia.<sup id="cite_ref-Myers_1996_59-0" class="reference"><a href="#cite_note-Myers_1996-59"><span class="cite-bracket">[</span>59<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Myers_1998b_60-0" class="reference"><a href="#cite_note-Myers_1998b-60"><span class="cite-bracket">[</span>60<span class="cite-bracket">]</span></a></sup> When cuts are suggested many argue (most fervently by those "entitled", special interest groups and <a href="/wiki/Lobbying" title="Lobbying">political lobbyists</a>) that it will disrupt and harm the lives of people who receive them, distort domestic <a href="/wiki/Competition_(companies)" class="mw-redirect" title="Competition (companies)">competitiveness</a> curbing trade opportunities, and increase unemployment.<sup id="cite_ref-van_beers_and_van_den_bergh_2009_57-2" class="reference"><a href="#cite_note-van_beers_and_van_den_bergh_2009-57"><span class="cite-bracket">[</span>57<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Bellman_et_al_2012_61-0" class="reference"><a href="#cite_note-Bellman_et_al_2012-61"><span class="cite-bracket">[</span>61<span class="cite-bracket">]</span></a></sup> Individual governments recognise this as a "<a href="/wiki/Prisoner%27s_dilemma" title="Prisoner's dilemma">prisoner's dilemma</a>" – insofar as that even if they wanted to adopt subsidy reform, by acting unilaterally they fear only negative effects will ensue if others do not follow.<sup id="cite_ref-van_beers_and_de_moor_1998_58-1" class="reference"><a href="#cite_note-van_beers_and_de_moor_1998-58"><span class="cite-bracket">[</span>58<span class="cite-bracket">]</span></a></sup> Furthermore, cutting subsidies, however perverse they may be, is considered a vote-losing policy.<sup id="cite_ref-Myers_1996_59-1" class="reference"><a href="#cite_note-Myers_1996-59"><span class="cite-bracket">[</span>59<span class="cite-bracket">]</span></a></sup> </p><p>Reform of perverse subsidies is at a propitious time. The current economic conditions mean governments are forced into fiscal constraints and are looking for ways to reduce activist roles in their economies.<sup id="cite_ref-Myers_1998b_60-1" class="reference"><a href="#cite_note-Myers_1998b-60"><span class="cite-bracket">[</span>60<span class="cite-bracket">]</span></a></sup> There are two main reform paths: unilateral and multilateral. Unilateral agreements (one country) are less likely to be undertaken for the reasons outlined above, although New Zealand,<sup id="cite_ref-Myers_and_Kent_2001_box_3.2_62-0" class="reference"><a href="#cite_note-Myers_and_Kent_2001_box_3.2-62"><span class="cite-bracket">[</span>62<span class="cite-bracket">]</span></a></sup> Russia, Bangladesh and others represent successful examples.<sup id="cite_ref-Myers_1998a_7-4" class="reference"><a href="#cite_note-Myers_1998a-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> Multilateral actions by several countries are more likely to succeed as this reduces competitiveness concerns, but are more complex to implement requiring greater international collaboration through a body such as the <a href="/wiki/WTO" class="mw-redirect" title="WTO">WTO</a>.<sup id="cite_ref-Robin_et_al_2003_55-2" class="reference"><a href="#cite_note-Robin_et_al_2003-55"><span class="cite-bracket">[</span>55<span class="cite-bracket">]</span></a></sup> Irrespective of the path, the aim of policymakers should be to: create alternative policies that target the same issue as the original subsidies but better; develop subsidy removal strategies allowing market-discipline to return; introduce "sunset" provisions that require remaining subsidies to be re-justified periodically; and make perverse subsidies more transparent to taxpayers to alleviate the "vote-loser" concern.<sup id="cite_ref-Myers_1998a_7-5" class="reference"><a href="#cite_note-Myers_1998a-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Examples">Examples</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=24" title="Edit section: Examples"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading4"><h4 id="Agricultural_subsidies">Agricultural subsidies</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=25" title="Edit section: Agricultural subsidies"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Support for agriculture dates back to the 19th century. It was developed extensively in the EU and US across the two World Wars and the Great Depression to protect domestic food production, but remains important across the world today.<sup id="cite_ref-Robin_et_al_2003_55-3" class="reference"><a href="#cite_note-Robin_et_al_2003-55"><span class="cite-bracket">[</span>55<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Myers_1996_59-2" class="reference"><a href="#cite_note-Myers_1996-59"><span class="cite-bracket">[</span>59<span class="cite-bracket">]</span></a></sup> In 2005, US farmers received $14 billion and EU farmers $47 billion in <a href="/wiki/Agricultural_subsidies" class="mw-redirect" title="Agricultural subsidies">agricultural subsidies</a>.<sup id="cite_ref-Kolb_2008_44-3" class="reference"><a href="#cite_note-Kolb_2008-44"><span class="cite-bracket">[</span>44<span class="cite-bracket">]</span></a></sup> Today, agricultural subsidies are defended on the grounds of helping farmers to maintain their livelihoods. The majority of payments are based on outputs and inputs and thus favour the larger producing agribusinesses over the small-scale farmers.<sup id="cite_ref-cheapMyers_and_Kent_2001_6-6" class="reference"><a href="#cite_note-cheapMyers_and_Kent_2001-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Steenblik_1998_63-0" class="reference"><a href="#cite_note-Steenblik_1998-63"><span class="cite-bracket">[</span>63<span class="cite-bracket">]</span></a></sup> In the US nearly 30% of payments go to the top 2% of farmers.<sup id="cite_ref-Robin_et_al_2003_55-4" class="reference"><a href="#cite_note-Robin_et_al_2003-55"><span class="cite-bracket">[</span>55<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-64" class="reference"><a href="#cite_note-64"><span class="cite-bracket">[</span>64<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-65" class="reference"><a href="#cite_note-65"><span class="cite-bracket">[</span>65<span class="cite-bracket">]</span></a></sup> </p><p>By subsidising inputs and outputs through such schemes as "yield based subsidisation", farmers are encouraged to over-produce using intensive methods, including using more fertilizers and pesticides; grow high-yielding <a href="/wiki/Monocultures" class="mw-redirect" title="Monocultures">monocultures</a>; reduce <a href="/wiki/Crop_rotation" title="Crop rotation">crop rotation</a>; shorten fallow periods; and promote exploitative land use change from forests, rainforests and wetlands to agricultural land.<sup id="cite_ref-Robin_et_al_2003_55-5" class="reference"><a href="#cite_note-Robin_et_al_2003-55"><span class="cite-bracket">[</span>55<span class="cite-bracket">]</span></a></sup> These all lead to severe environmental degradation, including adverse effects on soil quality and productivity including <a href="/wiki/Erosion" title="Erosion">erosion</a>, nutrient supply and salinity which in turn affects carbon storage and cycling, water retention and <a href="/wiki/Drought_tolerance" title="Drought tolerance">drought resistance</a>; water quality including pollution, nutrient deposition and <a href="/wiki/Eutrophication" title="Eutrophication">eutrophication</a> of waterways, and lowering of water tables; diversity of flora and fauna including indigenous species both directly and indirectly through the destruction of habitats, resulting in a genetic wipe-out.<sup id="cite_ref-cheapMyers_and_Kent_2001_6-7" class="reference"><a href="#cite_note-cheapMyers_and_Kent_2001-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Robin_et_al_2003_55-6" class="reference"><a href="#cite_note-Robin_et_al_2003-55"><span class="cite-bracket">[</span>55<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Portugal_2002_66-0" class="reference"><a href="#cite_note-Portugal_2002-66"><span class="cite-bracket">[</span>66<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-OECD_2003_67-0" class="reference"><a href="#cite_note-OECD_2003-67"><span class="cite-bracket">[</span>67<span class="cite-bracket">]</span></a></sup> </p><p>Cotton growers in the US reportedly receive half their income from the government under the <a href="/wiki/Farm_Bill_of_2002" class="mw-redirect" title="Farm Bill of 2002">Farm Bill of 2002</a>. The subsidy payments stimulated <a href="/wiki/Overproduction" title="Overproduction">overproduction</a> and resulted in a record cotton harvest in 2002, much of which had to be sold at very reduced prices in the global market.<sup id="cite_ref-Kolb_2008_44-4" class="reference"><a href="#cite_note-Kolb_2008-44"><span class="cite-bracket">[</span>44<span class="cite-bracket">]</span></a></sup> For foreign producers, the depressed cotton price lowered their prices far below the break-even price. In fact, African farmers received 35 to 40 cents per pound for cotton, while US cotton growers, backed by government agricultural payments, received 75 cents per pound. Developing countries and trade organizations argue that poorer countries should be able to export their principal commodities to survive, but protectionist laws and payments in the United States and Europe prevent these countries from engaging in international trade opportunities. </p> <div class="mw-heading mw-heading4"><h4 id="Fisheries">Fisheries</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=26" title="Edit section: Fisheries"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Today, much of the world's major fisheries are <a href="/wiki/Overexploited" class="mw-redirect" title="Overexploited">overexploited</a>; in 2002, the <a href="/wiki/World_Wildlife_Fund" class="mw-redirect" title="World Wildlife Fund">WWF</a> estimate this at approximately 75%. Fishing subsidies include "direct assistant to fishers; loan support programs; tax preferences and insurance support; capital and infrastructure programs; marketing and price support programs; and fisheries management, research, and conservation programs."<sup id="cite_ref-Robin_et_al_2003_p4_68-0" class="reference"><a href="#cite_note-Robin_et_al_2003_p4-68"><span class="cite-bracket">[</span>68<span class="cite-bracket">]</span></a></sup> They promote the expansion of <a href="/wiki/Fishing_fleet" title="Fishing fleet">fishing fleets</a>, the supply of larger and longer nets, larger yields and indiscriminate catch, as well as mitigating risks which encourages further investment into large-scale operations to the disfavour of the already struggling small-scale industry.<sup id="cite_ref-Robin_et_al_2003_55-7" class="reference"><a href="#cite_note-Robin_et_al_2003-55"><span class="cite-bracket">[</span>55<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Porter_1998_69-0" class="reference"><a href="#cite_note-Porter_1998-69"><span class="cite-bracket">[</span>69<span class="cite-bracket">]</span></a></sup> Collectively, these result in the continued overcapitalization and overfishing of marine fisheries. </p><p>There are four categories of <a href="/wiki/Fisheries_subsidy" title="Fisheries subsidy">fisheries subsidies</a>. First are direct financial transfers, second are indirect financial transfers and services. Third, certain forms of intervention and fourth, not intervening. The first category regards direct payments from the government received by the fisheries industry. These typically affect profits of the industry in the short term and can be negative or positive. Category two pertains to government intervention, not involving those under the first category. These subsidies also affect the profits in the short term but typically are not negative. Category three includes intervention that results in a negative short-term economic impact, but economic benefits in the long term. These benefits are usually more general societal benefits such as the environment. The final category pertains to inaction by the government, allowing producers to impose certain production costs on others. These subsidies tend to lead to positive benefits in the short term but negative in the long term.<sup id="cite_ref-70" class="reference"><a href="#cite_note-70"><span class="cite-bracket">[</span>70<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading4"><h4 id="Manufacturing_subsidies">Manufacturing subsidies</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=27" title="Edit section: Manufacturing subsidies"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>A survey of manufacturing in Britain found government subsidies had had various unintended dysfunctional consequences. The subsidies had usually been selective or discriminatory – benefiting some companies at the expense of others. Government money in the form of grants and awards of production and R&D contracts had gone to advanced and viable firms as well as old uneconomic enterprises. However, the main recipients had been larger, established companies – while most of the firms pioneering radical technical-product developments with long-term economic growth potential had been new small enterprises. The study concluded that instead of providing subsidies, governments wanting to benefit industrial-technological development and performance should lower standard rates of business taxation, raise tax allowances for investments in new plant, equipment and products, and remove obstacles to market competition and customer choice.<sup id="cite_ref-71" class="reference"><a href="#cite_note-71"><span class="cite-bracket">[</span>71<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading4"><h4 id="Others">Others</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=28" title="Edit section: Others"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The US National Football League's (<a href="/wiki/NFL" class="mw-redirect" title="NFL">NFL</a>) profits have topped records at $11 billion, the highest of all sports. The NFL had tax-exempt status until voluntarily relinquishing it in 2015, and new stadiums have been built with public subsidies.<sup id="cite_ref-72" class="reference"><a href="#cite_note-72"><span class="cite-bracket">[</span>72<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Cohen_2008_73-0" class="reference"><a href="#cite_note-Cohen_2008-73"><span class="cite-bracket">[</span>73<span class="cite-bracket">]</span></a></sup> </p><p>The <a href="/wiki/Commitment_to_Development_Index" title="Commitment to Development Index">Commitment to Development Index</a> (CDI), published by the <a href="/wiki/Center_for_Global_Development" title="Center for Global Development">Center for Global Development</a>, measures the effect that subsidies and trade barriers actually have on the undeveloped world. It uses trade, along with six other components such as aid or investment, to rank and evaluate developed countries on policies that affect the undeveloped world. It finds that the richest countries spend $106 billion per year subsidizing their own farmers – almost exactly as much as they spend on foreign aid.<sup id="cite_ref-Fowler_and_fokker_2004_74-0" class="reference"><a href="#cite_note-Fowler_and_fokker_2004-74"><span class="cite-bracket">[</span>74<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Short_list_of_subsidies">Short list of subsidies</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=29" title="Edit section: Short list of subsidies"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a href="/wiki/Agricultural_subsidy" title="Agricultural subsidy">Agricultural subsidy</a></li> <li><a href="/wiki/Fisheries_subsidy" title="Fisheries subsidy">Fisheries subsidy</a></li> <li><a href="/wiki/Export_subsidy" title="Export subsidy">Export subsidy</a></li> <li><a href="/wiki/Energy_subsidy" title="Energy subsidy">Energy subsidy</a></li> <li><a href="/wiki/Fossil_fuel_subsidies" title="Fossil fuel subsidies">Fossil fuel subsidies</a> (oil subsidies, coal subsidies, gas subsidies)</li> <li><a href="/wiki/Financial_incentives_for_photovoltaics" title="Financial incentives for photovoltaics">Photovoltaics subsidy</a></li> <li><a href="/wiki/Party_subsidies" title="Party subsidies">Party subsidies</a></li> <li><a href="/wiki/Wage_subsidy" title="Wage subsidy">Wage subsidy</a></li> <li><a href="/wiki/Artist_subsidy_(Netherlands)" title="Artist subsidy (Netherlands)">Artist subsidy (Netherlands)</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=30" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a href="/wiki/Agricultural_subsidy" title="Agricultural subsidy">Agricultural subsidy</a></li> <li><a href="/wiki/Cross_subsidization" title="Cross subsidization">Cross subsidization</a></li> <li><a href="/wiki/Cultural_subsidy" title="Cultural subsidy">Cultural subsidy</a></li> <li><a href="/wiki/Energy_subsidy" title="Energy subsidy">Energy subsidy</a></li> <li><a href="/wiki/Vehicle_leasing#Company_cars_for_employee_use" title="Vehicle leasing">Subsidization of company cars</a></li> <li><a href="/wiki/Federal_government" class="mw-redirect" title="Federal government">Federal government</a></li> <li><a href="/wiki/Government_by_algorithm#Algorithms_in_government_agencies" title="Government by algorithm">Audit software in governmental procurement</a></li> <li><a href="/wiki/Municipal_services" title="Municipal services">Municipal services</a></li> <li><a href="/wiki/Perverse_incentive" title="Perverse incentive">Perverse incentive</a></li> <li><a href="/wiki/Rail_subsidies" title="Rail subsidies">Rail subsidies</a></li> <li><a href="/wiki/Stadium_subsidy" title="Stadium subsidy">Stadium subsidy</a></li> <li><a href="/wiki/Tax_exemption" title="Tax exemption">Tax exemption</a></li> <li><a href="/wiki/Wage_subsidy" title="Wage subsidy">Wage subsidy</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=31" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist reflist-columns references-column-width" style="column-width: 30em;"> <ol class="references"> <li id="cite_note-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-1">^</a></b></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output 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Salem Press Encyclopedia<span class="reference-accessdate">. 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Retrieved <span class="nowrap">15 September</span> 2017</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Economist&rft.atitle=Subsidies+to+Chinese+Industry&rft.date=2013&rft.aulast=Haley&rft.aufirst=U.&rft.au=G.+Haley&rft_id=https%3A%2F%2Fwww.economist.com%2Fnews%2Ffinance-and-economics%2F21576680-new-book-lays-out-scale-chinas-industrial-subsidies-perverse-advantage&rfr_id=info%3Asid%2Fen.wikipedia.org%3ASubsidy" class="Z3988"></span></span> </li> <li id="cite_note-cheapMyers_and_Kent_2001-6"><span class="mw-cite-backlink">^ <a href="#cite_ref-cheapMyers_and_Kent_2001_6-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-cheapMyers_and_Kent_2001_6-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-cheapMyers_and_Kent_2001_6-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-cheapMyers_and_Kent_2001_6-3"><sup><i><b>d</b></i></sup></a> <a href="#cite_ref-cheapMyers_and_Kent_2001_6-4"><sup><i><b>e</b></i></sup></a> <a href="#cite_ref-cheapMyers_and_Kent_2001_6-5"><sup><i><b>f</b></i></sup></a> <a href="#cite_ref-cheapMyers_and_Kent_2001_6-6"><sup><i><b>g</b></i></sup></a> <a href="#cite_ref-cheapMyers_and_Kent_2001_6-7"><sup><i><b>h</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMyersKent,_J.2001" class="citation book cs1">Myers, N.; Kent, J. (2001). <span class="id-lock-registration" title="Free registration required"><a rel="nofollow" class="external text" href="https://archive.org/details/perversesubsidie00myer"><i>Perverse subsidies: how tax dollars can undercut the environment and the economy</i></a></span>. Washington, DC: Island Press. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1-55963-835-7" title="Special:BookSources/978-1-55963-835-7"><bdi>978-1-55963-835-7</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Perverse+subsidies%3A+how+tax+dollars+can+undercut+the+environment+and+the+economy&rft.place=Washington%2C+DC&rft.pub=Island+Press&rft.date=2001&rft.isbn=978-1-55963-835-7&rft.aulast=Myers&rft.aufirst=N.&rft.au=Kent%2C+J.&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fperversesubsidie00myer&rfr_id=info%3Asid%2Fen.wikipedia.org%3ASubsidy" class="Z3988"></span></span> </li> <li id="cite_note-Myers_1998a-7"><span class="mw-cite-backlink">^ <a href="#cite_ref-Myers_1998a_7-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Myers_1998a_7-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-Myers_1998a_7-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-Myers_1998a_7-3"><sup><i><b>d</b></i></sup></a> <a href="#cite_ref-Myers_1998a_7-4"><sup><i><b>e</b></i></sup></a> <a href="#cite_ref-Myers_1998a_7-5"><sup><i><b>f</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMyers1998" class="citation journal cs1">Myers, N. 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"OECD Work on Defining and Measuring Subsidies in Agriculture". <i>The OECD Workshop on Environmentally Harmful Subsidies, Paris, 7–8 November 2002</i>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+OECD+Workshop+on+Environmentally+Harmful+Subsidies%2C+Paris%2C+7%E2%80%938+November+2002&rft.atitle=OECD+Work+on+Defining+and+Measuring+Subsidies+in+Agriculture&rft.date=2002&rft.aulast=Portugal&rft.aufirst=L.&rfr_id=info%3Asid%2Fen.wikipedia.org%3ASubsidy" class="Z3988"></span></span> </li> <li id="cite_note-OECD_2003-67"><span class="mw-cite-backlink"><b><a href="#cite_ref-OECD_2003_67-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFOECD2003" class="citation web cs1">OECD (2003). <a rel="nofollow" class="external text" href="http://www.oecd.org/env/resources/19819811.pdf">"Perverse incentives in biodiversity loss"</a> <span class="cs1-format">(PDF)</span>. <i>Working Party on Global and Structural Policies Working Group on Economic Aspects of Biodiversity</i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20131203022538/http://www.oecd.org/env/resources/19819811.pdf">Archived</a> <span class="cs1-format">(PDF)</span> from the original on 3 December 2013<span class="reference-accessdate">. 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(2003). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20131203173214/http://conservationfinance.org/guide/WPC/WPC_documents/Overview_PanB_Wolcott_v2.pdf"><i>Perverse Subsidies and the Implications for Biodiversity: A review of recent findings and the status of policy reforms</i></a> <span class="cs1-format">(PDF)</span>. Durban, South Africa: Vth World Parks Congress: Sustainable Finance Stream. p. 4. Archived from <a rel="nofollow" class="external text" href="http://conservationfinance.org/guide/WPC/WPC_documents/Overview_PanB_Wolcott_v2.pdf">the original</a> <span class="cs1-format">(PDF)</span> on 3 December 2013.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Perverse+Subsidies+and+the+Implications+for+Biodiversity%3A+A+review+of+recent+findings+and+the+status+of+policy+reforms&rft.place=Durban%2C+South+Africa&rft.pages=4&rft.pub=Vth+World+Parks+Congress%3A+Sustainable+Finance+Stream&rft.date=2003&rft.aulast=Robin&rft.aufirst=S.&rft.au=Wolcott%2C+R.&rft.au=Quintela%2C+C.E.&rft_id=http%3A%2F%2Fconservationfinance.org%2Fguide%2FWPC%2FWPC_documents%2FOverview_PanB_Wolcott_v2.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3ASubsidy" class="Z3988"></span></span> </li> <li id="cite_note-Porter_1998-69"><span class="mw-cite-backlink"><b><a href="#cite_ref-Porter_1998_69-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPorter1998" class="citation web cs1">Porter, G. (1998). <a rel="nofollow" class="external text" href="http://www.ciel.org/Publications/NaturalResourceSubsidies.pdf">"Natural Resource Subsidies, Trade and Environment: The Cases of Forest and Fisheries"</a> <span class="cs1-format">(PDF)</span>. <i>Center for Environmental Law</i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20120915083324/http://www.ciel.org/Publications/NaturalResourceSubsidies.pdf">Archived</a> <span class="cs1-format">(PDF)</span> from the original on 15 September 2012<span class="reference-accessdate">. Retrieved <span class="nowrap">5 August</span> 2013</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Center+for+Environmental+Law&rft.atitle=Natural+Resource+Subsidies%2C+Trade+and+Environment%3A+The+Cases+of+Forest+and+Fisheries&rft.date=1998&rft.aulast=Porter&rft.aufirst=G.&rft_id=http%3A%2F%2Fwww.ciel.org%2FPublications%2FNaturalResourceSubsidies.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3ASubsidy" class="Z3988"></span></span> </li> <li id="cite_note-70"><span class="mw-cite-backlink"><b><a href="#cite_ref-70">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.fao.org/docrep/005/y4446e/y4446e0l.htm">"Report of the Expert Consultation on Identifying, Assessing and Reporting on Subsidies in the Fishing Industry - Rome, 3-6 December 2002"</a>. <i>Food and Agriculture Organization of the United Nations</i>. Food and Agriculture Organization. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180316214025/http://www.fao.org/docrep/005/y4446e/y4446e0l.htm">Archived</a> from the original on 16 March 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">16 March</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Food+and+Agriculture+Organization+of+the+United+Nations&rft.atitle=Report+of+the+Expert+Consultation+on+Identifying%2C+Assessing+and+Reporting+on+Subsidies+in+the+Fishing+Industry+-+Rome%2C+3-6+December+2002&rft_id=http%3A%2F%2Fwww.fao.org%2Fdocrep%2F005%2Fy4446e%2Fy4446e0l.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3ASubsidy" class="Z3988"></span></span> </li> <li id="cite_note-71"><span class="mw-cite-backlink"><b><a href="#cite_ref-71">^</a></b></span> <span class="reference-text"><i>Manufacturing in Britain: A Survey of Factors Affecting Growth and Performance</i>, ISR/Google Books, 2019, pages 37-38. ISBN 9780906321614</span> </li> <li id="cite_note-72"><span class="mw-cite-backlink"><b><a href="#cite_ref-72">^</a></b></span> <span class="reference-text">Clegg, Jonathan (28 April 2015). <a rel="nofollow" class="external text" href="https://www.wsj.com/articles/nfl-to-end-tax-exempt-status-1430241845?mod=e2tw">"NFL to End Tax-Exempt Status."</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20171112204558/https://www.wsj.com/articles/nfl-to-end-tax-exempt-status-1430241845?mod=e2tw">Archived</a> 2017-11-12 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> <i><a href="/wiki/The_Wall_Street_Journal" title="The Wall Street Journal">The Wall Street Journal</a></i>. Retrieved 17 December 2019.</span> </li> <li id="cite_note-Cohen_2008-73"><span class="mw-cite-backlink"><b><a href="#cite_ref-Cohen_2008_73-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFCohen2008" class="citation web cs1">Cohen, R. (2008). <a rel="nofollow" class="external text" href="http://www.nonprofitquarterly.org/index.php?option=com_content&view=article&id=3056:playing-by-the-nfls-tax-exempt-rules&catid=149:rick-cohen&Itemid=117">"Playing by the NFL's Tax Exempt Rulesh"</a>. NonProfit Quarterly. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20130820002728/http://www.nonprofitquarterly.org/index.php?option=com_content&view=article&id=3056:playing-by-the-nfls-tax-exempt-rules&catid=149:rick-cohen&Itemid=117">Archived</a> from the original on 20 August 2013<span class="reference-accessdate">. Retrieved <span class="nowrap">15 April</span> 2013</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Playing+by+the+NFL%27s+Tax+Exempt+Rulesh&rft.pub=NonProfit+Quarterly&rft.date=2008&rft.aulast=Cohen&rft.aufirst=R.&rft_id=http%3A%2F%2Fwww.nonprofitquarterly.org%2Findex.php%3Foption%3Dcom_content%26view%3Darticle%26id%3D3056%3Aplaying-by-the-nfls-tax-exempt-rules%26catid%3D149%3Arick-cohen%26Itemid%3D117&rfr_id=info%3Asid%2Fen.wikipedia.org%3ASubsidy" class="Z3988"></span></span> </li> <li id="cite_note-Fowler_and_fokker_2004-74"><span class="mw-cite-backlink"><b><a href="#cite_ref-Fowler_and_fokker_2004_74-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFFowlerFokker,_R.2004" class="citation book cs1">Fowler, P.; Fokker, R. (2004). <a rel="nofollow" class="external text" href="http://policy-practice.oxfam.org.uk/publications/a-sweeter-future-the-potential-for-eu-sugar-reform-to-contribute-to-poverty-red-114124"><i>A Sweeter Future? The potential for EU sugar reform to contribute to poverty reduction in Southern Africa</i></a>. Oxford: Oxfam International. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9781848141940" title="Special:BookSources/9781848141940"><bdi>9781848141940</bdi></a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20140209142708/http://policy-practice.oxfam.org.uk/publications/a-sweeter-future-the-potential-for-eu-sugar-reform-to-contribute-to-poverty-red-114124">Archived</a> from the original on 9 February 2014<span class="reference-accessdate">. Retrieved <span class="nowrap">8 September</span> 2013</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=A+Sweeter+Future%3F+The+potential+for+EU+sugar+reform+to+contribute+to+poverty+reduction+in+Southern+Africa&rft.place=Oxford&rft.pub=Oxfam+International&rft.date=2004&rft.isbn=9781848141940&rft.aulast=Fowler&rft.aufirst=P.&rft.au=Fokker%2C+R.&rft_id=http%3A%2F%2Fpolicy-practice.oxfam.org.uk%2Fpublications%2Fa-sweeter-future-the-potential-for-eu-sugar-reform-to-contribute-to-poverty-red-114124&rfr_id=info%3Asid%2Fen.wikipedia.org%3ASubsidy" class="Z3988"></span></span> </li> </ol></div> <div class="mw-heading mw-heading2"><h2 id="Further_reading">Further reading</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=32" title="Edit section: Further reading"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1235681985">.mw-parser-output .side-box{margin:4px 0;box-sizing:border-box;border:1px solid #aaa;font-size:88%;line-height:1.25em;background-color:var(--background-color-interactive-subtle,#f8f9fa);display:flow-root}.mw-parser-output .side-box-abovebelow,.mw-parser-output .side-box-text{padding:0.25em 0.9em}.mw-parser-output .side-box-image{padding:2px 0 2px 0.9em;text-align:center}.mw-parser-output .side-box-imageright{padding:2px 0.9em 2px 0;text-align:center}@media(min-width:500px){.mw-parser-output .side-box-flex{display:flex;align-items:center}.mw-parser-output .side-box-text{flex:1;min-width:0}}@media(min-width:720px){.mw-parser-output .side-box{width:238px}.mw-parser-output .side-box-right{clear:right;float:right;margin-left:1em}.mw-parser-output .side-box-left{margin-right:1em}}</style><div class="side-box metadata side-box-right"><style data-mw-deduplicate="TemplateStyles:r1126788409">.mw-parser-output .plainlist ol,.mw-parser-output .plainlist ul{line-height:inherit;list-style:none;margin:0;padding:0}.mw-parser-output .plainlist ol li,.mw-parser-output .plainlist ul li{margin-bottom:0}</style> <div class="side-box-abovebelow"> <a href="/wiki/Wikipedia:The_Wikipedia_Library" title="Wikipedia:The Wikipedia Library">Library resources</a> about <br /> <b>Subsidy</b> <hr /></div> <div class="side-box-flex"> <div class="side-box-text plainlist"><ul><li><a class="external text" href="https://ftl.toolforge.org/cgi-bin/ftl?st=wp&su=Subsidy">Resources in your library</a></li> </ul></div></div> </div> <ul><li>OECD (2001) Environmentally Harmful Subsidies: Policy Issues and Challenges. France: OECD Productions. <a rel="nofollow" class="external free" href="http://www.inecc.gob.mx/descargas/dgipea/harmful_subsidies.pdf">http://www.inecc.gob.mx/descargas/dgipea/harmful_subsidies.pdf</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Subsidy&action=edit&section=33" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a rel="nofollow" class="external text" href="http://www.nakedcapitalism.com/2014/06/bad-incentive-deal.html">Another Day, Another Bad Incentive Deal</a> (2014-06-06), <i><a href="/wiki/Naked_Capitalism" title="Naked Capitalism">Naked Capitalism</a></i></li></ul> <div class="navbox-styles"><style data-mw-deduplicate="TemplateStyles:r1129693374">.mw-parser-output .hlist dl,.mw-parser-output .hlist ol,.mw-parser-output .hlist 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href="https://www.wikidata.org/wiki/Q193219#identifiers" title="Edit this at Wikidata"><img alt="Edit this at Wikidata" src="//upload.wikimedia.org/wikipedia/en/thumb/8/8a/OOjs_UI_icon_edit-ltr-progressive.svg/10px-OOjs_UI_icon_edit-ltr-progressive.svg.png" decoding="async" width="10" height="10" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/8/8a/OOjs_UI_icon_edit-ltr-progressive.svg/15px-OOjs_UI_icon_edit-ltr-progressive.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/8/8a/OOjs_UI_icon_edit-ltr-progressive.svg/20px-OOjs_UI_icon_edit-ltr-progressive.svg.png 2x" data-file-width="20" data-file-height="20" /></a></span></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">National</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"><ul><li><span class="uid"><span class="rt-commentedText tooltip tooltip-dotted" title="Subvention"><a rel="nofollow" class="external text" href="https://d-nb.info/gnd/4058345-4">Germany</a></span></span></li><li><span class="uid"><span class="rt-commentedText tooltip tooltip-dotted" title="Subsidies"><a rel="nofollow" class="external text" href="https://id.loc.gov/authorities/sh85129533">United States</a></span></span></li><li><span class="uid"><span class="rt-commentedText tooltip tooltip-dotted" title="Subventions"><a rel="nofollow" class="external text" href="https://catalogue.bnf.fr/ark:/12148/cb11934343j">France</a></span></span></li><li><span class="uid"><span class="rt-commentedText tooltip tooltip-dotted" title="Subventions"><a rel="nofollow" class="external text" href="https://data.bnf.fr/ark:/12148/cb11934343j">BnF data</a></span></span></li><li><span class="uid"><a rel="nofollow" class="external text" href="https://id.ndl.go.jp/auth/ndlna/00563568">Japan</a></span></li><li><span class="uid"><span class="rt-commentedText tooltip tooltip-dotted" title="Subvenciones públicas"><a rel="nofollow" class="external text" href="http://catalogo.bne.es/uhtbin/authoritybrowse.cgi?action=display&authority_id=XX528542">Spain</a></span></span></li><li><span class="uid"><span class="rt-commentedText tooltip tooltip-dotted" title="Subsīdijas"><a rel="nofollow" class="external text" href="https://kopkatalogs.lv/F?func=direct&local_base=lnc10&doc_number=000068400&P_CON_LNG=ENG">Latvia</a></span></span></li><li><span class="uid"><a rel="nofollow" class="external text" href="http://olduli.nli.org.il/F/?func=find-b&local_base=NLX10&find_code=UID&request=987007543736805171">Israel</a></span></li></ul></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Other</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"><ul><li><span class="uid"><span class="rt-commentedText tooltip tooltip-dotted" title="Subventionen"><a rel="nofollow" class="external text" href="https://hls-dhs-dss.ch/fr/articles/013761">Historical Dictionary of Switzerland</a></span></span></li><li><span class="uid"><a rel="nofollow" class="external text" href="https://catalog.archives.gov/id/10644853">NARA</a></span></li></ul></div></td></tr></tbody></table></div>    </div><noscript><img src="https://login.wikimedia.org/wiki/Special:CentralAutoLogin/start?type=1x1" alt="" width="1" height="1" style="border: none; position: absolute;"></noscript> <div class="printfooter" data-nosnippet="">Retrieved from "<a dir="ltr" href="https://en.wikipedia.org/w/index.php?title=Subsidy&oldid=1248194326">https://en.wikipedia.org/w/index.php?title=Subsidy&oldid=1248194326</a>"</div></div> <div id="catlinks" class="catlinks" data-mw="interface"><div id="mw-normal-catlinks" class="mw-normal-catlinks"><a href="/wiki/Help:Category" title="Help:Category">Categories</a>: <ul><li><a href="/wiki/Category:Fiscal_policy" title="Category:Fiscal policy">Fiscal policy</a></li><li><a href="/wiki/Category:Grants_(money)" title="Category:Grants 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