The International Economics Of Wine

A comprehensive and interdisciplinary approach to the economics of the production, distribution, and consumption of wine. Wine economics is a growing subfield that examines the economics of the production, distribution, and consumption of wine. In this book, Stefano Castriota takes a comprehensive and interdisciplinary approach to the study of wine economics, drawing on literature from industrial organization, welfare economics, economic policy, political economy, management, finance, health economics, law, and criminology.

The International Economics of Wine provides a broad range of studies by Professor Kym Anderson and his co-authors of the international trade dimension of national, regional and global wine market developments over the past quarter-century. Prior to 1990, barely 10% of global wine production crossed national borders, but now that figure is 40%. In that short period, wine has switched from being one of the world's least-traded agricultural products to one of the most traded internationally. This has created an unprecedented boom for consumers, who have also witnessed huge improvements in the quality and diversity of wines available. The chapters in this book shed light on the causes and consequences of the dramatic transformation of the world of wine. An economic model of the world's wine markets, based on newly compiled data, makes it possible to quantify the likely effects of changes in incomes, consumer preferences, tax and trade policies, and exchange rates. Differential changes in technologies and winegrape varieties, and the opening up of cooler wine regions, have also altered comparative advantages in wine.

In this anthology, editors Kym Anderson and Vicente Pinilla have gathered together some of the world's leading wine economists and economic historians to examine the development of national wine industries before and during the two waves of globalization. The empirically-based chapters analyze developments in all key wine-producing and consuming countries using a common methodology to explain long-term trends and cycles in wine production, consumption, and trade. The authors cover topics such as the role of new technologies, policies, and institutions, as well as exchange rate movements, international market developments, evolutions in grape varieties, and wine quality changes. The final chapter draws on an economic model of global wine markets, to project those markets to 2025 based on various assumptions about population and income growth, real exchange rates, and other factors. All authors of the book contributed to a unique global database of annual data back to the mid-nineteenth century which has been compiled by the book editors.

This book uses empirically-based analytical narratives to shed light on the development of national wine markets throughout the world.

This Palgrave Handbook offers the first international comparative study into the efficiency of the industrial organization of the global wine industry. Looking at several important vineyards of the main wine countries, the contributors analyze differences in implementation and articulation of three key stages: grape production, wine making and distribution (marketing, selling and logistics). By examining regulations, organization theory, industry organizational efficiency and vertical integration, up to date strategies in the sector are presented and appraised. Which models are most efficient? What are the most relevant factors for optimal performance? How do reputation and governance impact the industry? Should different models co-exist within the wine countries for global success? This comprehensive volume is essential reading for students, researchers and professionals in the wine industry.

Today's wine industry is characterized by regional differences not only in the wines themselves but also in the business models by which these wines are produced, marketed, and distributed. In Old World countries such as France, Spain, and Italy, small family vineyards and cooperative wineries abound. In New World regions like the United States and Australia, the industry is dominated by a handful of very large producers. This is the first book to trace the economic and historical forces that gave rise to very distinctive regional approaches to creating wine. James Simpson shows how the wine industry was transformed in the decades leading up to the First World War. Population growth, rising wages, and the railways all contributed to soaring European consumption even as many vineyards were decimated by the vine disease phylloxera. At the same time, new technologies led to a major shift in production away from Europe's traditional winemaking regions. Small family producers in Europe developed institutions such as regional appellations and cooperatives to protect their commercial interests as large integrated companies built new markets in America and elsewhere. Simpson examines how Old and New World producers employed diverging strategies to adapt to the changing global wine industry. Creating Wine includes chapters on Europe's cheap commodity wine industry; the markets for sherry, port, claret, and champagne; and the new wine industries in California, Australia, and Argentina.

"This work will appeal to students enrolled in wine marketing and business courses, those studying industrial organization, and economists and other social scientists interested in case studies of globalization at work. As well, wine industry participants interested in understanding the reasons behind the recent dramatic developments in the industry will find this book of great value."--BOOK JACKET.

Writing with wit and verve, Mike Veseth (a.k.a. the Wine Economist) tells the compelling story of the war between the market trends that are redrawing the world wine map and the terroirists who resist them. Wine and the wine business are at a critical crossroad today, transformed by three powerful forces. Veseth begins with the first force, globalization, which is shifting the center of the wine world as global wine markets provide enthusiasts with a rich but overwhelming array of choices. Two Buck Chuck, the second force, symbolizes the rise of branded products like the famous Charles Shaw wines sold in Trader Joe's stores. Branded corporate wines simplify the worldwide wine market and give buyers the confidence they need to make choices, but they also threaten to dumb down wine, sacrificing terroir to achieve marketable McWine reliability. Will globalization and Two Buck Chuck destroy the essence of wine? Perhaps, but not without a fight, Veseth argues. He counts on "the revenge of the terroirists" to save wine's soul. But it won't be easy as wine expands to exotic new markets such as China and the very idea of terroir is attacked by both critics and global climate change. Veseth has "grape expectations" that globalization, Two Buck Chuck, and the revenge of the terroirists will uncork a favorable future for wine in an engaging tour-de-force that will appeal to all lovers of wine, whether it be boxed, bagged, or bottled.

“It’s complicated!” That’s a simple way to describe the sort of relationship that seemingly defies simple explanations. Like a love triangle, money, taste, and wine are caught in a complicated relationship affecting every aspect of the wine industry and wine enthusiast experience. As wine economist and best-selling author Mike Veseth peels back the layers of the money-taste-wine story, he discovers the wine buyer’s biggest mistake (which is to confuse money and taste) and learns how to avoid it, sips and swirls dump bucket wines and Treasure Island wines, and toasts anything but Champagne. He bulks up with big-bag, big-box wines and realizes that sometimes the best wine is really a beer. Along the way he questions wine’s identity crisis, looks down his nose at wine snobs and cheese bores, follows the money, surveys the restaurant war battleground, and imagines wines that even money cannot buy before concluding that money, taste, and wine might have a complicated relationship but sometimes they have the power to change the world. His engaging and enlightening book will surprise, inform, inspire, and delight anyone with an interest in wine—or complicated relationships.

This is the second edition of the definitive analysis of the international wine trade. This new edition focuses on individual trade flows across the major importing and exporting countries, examines the increasing role of food retailers in wine selling and looks for the future trends which will shape the industry in the new millennium.The book begins by examining technical factors in the wine trade giving rise to differences in pricing and considers how wines' characteristics help to position the final products. It shows how trends in consumption are changing in different ways in the traditional and Anglo-Saxon markets and explains the effects of developments in international trade such as the role of trade barriers.The heart of the book profiles the ten major wine importing countries and considers: Trends in the consumption of alcoholic drinks Wine market and import patterns The configuration of import and distribution channels Each country's trade policy with detailed comparisons between them The book then goes on to consider the wine trade from the exporters point of view and describes: The challenge posed by New World producers to those based in Western Europe The influence of the previously planned economies of the former Soviet bloc The role of the EU and the likely effect of further European integration The influence of tariff schedules and the GATT negotiations This edition will be essential reading for all wine trade professionals including: wine producers, importers and exporters, negocients, co-operatives and regional economic development agencies, and wine merchants and retailers.