Commodity Prices And Development
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Commodity Prices And Development
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Author : Roman Grynberg
language : en
Publisher: OUP Oxford
Release Date : 2007-11-01
Commodity Prices And Development written by Roman Grynberg and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-11-01 with Business & Economics categories.
More than 50 developing countries depend on three or fewer commodities for more than half of their exports and, in fact, many rely on a single commodity for a large share of export earnings. This reliance inevitability exposes countries to the risk of export earnings instability as a result of price shocks and, perhaps even more significantly, the falling purchasing power of exports over the long run due to declining real prices. Presenting for the first time a complete analysis of the issues surrounding commodity prices and development, this book is the culmination of three years of research commissioned by the Commonwealth Secretariat to look at various aspects of commodity prices. The problems faced by commodity dependent developing countries are formidable. Although diversification is the most appropriate response to the problem of the secular decline in commodity prices, long-term transformation in the economy can be a slow process and its success will depend on a host of factors such as the development of human resources, institutional capacity building, poverty alleviation, and appropriate domestic policy and environment. By granting increased aid flows and debt relief, and providing assistance to encourage production of non-traditional export items, the international community can play a proactive role in the development of the commodity dependent poor countries. Only concerted efforts both at the domestic fronts of these countries and via co-operation extended by the international community can help mitigate the problems of the world's most vulnerable economies.
Commodity Price Volatility And Inclusive Growth In Low Income Countries
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Author : Mr.Rabah Arezki
language : en
Publisher: International Monetary Fund
Release Date : 2012-10-24
Commodity Price Volatility And Inclusive Growth In Low Income Countries written by Mr.Rabah Arezki and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-10-24 with Business & Economics categories.
In the years following the global financial crisis, many low-income countries experienced rapid recovery and strong economic growth. However, many are now facing enormous difficulties because of rapidly rising food and fuel prices, with the threat of millions of people being pushed into poverty around the globe. The risk of continued food price volatility is a systemic challenge, and a failure in one country has been shown to have a profound impact on entire regions. This volume addresses the challenges of commodity price volatility for low-income countries and explores some macroeconomic policy options for responding to commodity price shocks. The book then looks at inclusive growth policies to address inequality in commodity-exporting countries, particularly natural resource rich countries. Perspectives from the Middle East and North Africa, sub-Saharan Africa, emerging Asia, and Mexico are presented and, finally, the role of the international donor community is examined. This volume is a must read for policymakers everywhere, from those in advanced, donor countries to those in countries with the poorest and most vulnerable populations.
Managing Commodity Price Risk In Developing Countries
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Author : Stijn Claessens
language : en
Publisher: World Bank Publications
Release Date : 1993
Managing Commodity Price Risk In Developing Countries written by Stijn Claessens and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Business & Economics categories.
Primary commodities represent more than one-half of the export earnings of many developing countries. The large fluctuations that can occur in the prices of such commodities are therefore a main economic difficulty for these countries. New financial techniques can lower the risk caused by these price changes over longer periods and allow financial obligations to be linked to commodity prices. But few developing countries have used these techniques. This book shows policymakers in developing countries how to use the full range of new and established financial techniques. Through case studies, it provides detailed information about the techniques, analyzes the institutional constraints on them, and illustrates the kinds of technical assistance needed to make good use of them. It also describes the instruments, the markets, and the current regulatory framework. For the past several years, the World Bank has assisted developing countries in managing commodity price risk. The book draws extensively on the lessons learned from this assistance to demonstrate that developing countries can benefit significantly from using financial techniques to manage their risk.
Global Commodity Markets And Development Economics
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Author : Stephan Pfaffenzeller
language : en
Publisher: Routledge
Release Date : 2018-01-29
Global Commodity Markets And Development Economics written by Stephan Pfaffenzeller and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-01-29 with Business & Economics categories.
The early 21st century has seen a prolonged price boom in non-fuel commodities, coupled with a volatile performance in fuel prices. This new collection presents the latest research on commodity prices and economic development in the context of this changing globalized economy. Global Commodity Markets and Development Economics brings together analyses from a number of perspectives in order to explore commodity price developments. Chapters explore long term commodity trends, the evolution of relative price developments, the relationship of the domestic commodity sector with global supply chains, agri-food prices, and the role of oil markets in the global economy. Through considering a diverse range of countries including China, Russia and the United States, the authors examine key fuel and non-fuel commodity markets and offer a window into important trends and developments. This book will be relevant to those with an interest in development economics, international economics and energy markets.
Food Price Volatility And Its Implications For Food Security And Policy
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Author : Matthias Kalkuhl
language : en
Publisher: Springer
Release Date : 2016-04-12
Food Price Volatility And Its Implications For Food Security And Policy written by Matthias Kalkuhl and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-12 with Business & Economics categories.
This book provides fresh insights into concepts, methods and new research findings on the causes of excessive food price volatility. It also discusses the implications for food security and policy responses to mitigate excessive volatility. The approaches applied by the contributors range from on-the-ground surveys, to panel econometrics and innovative high-frequency time series analysis as well as computational economics methods. It offers policy analysts and decision-makers guidance on dealing with extreme volatility.
The Macroeconomic Determinants Of Commodity Prices
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Author : Mr.Eduardo Borensztein
language : en
Publisher: International Monetary Fund
Release Date : 1994-01-01
The Macroeconomic Determinants Of Commodity Prices written by Mr.Eduardo Borensztein and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994-01-01 with Business & Economics categories.
The “traditional structural approach” to the determination of real commodity prices has relied exclusively on demand factors as the fundamentals that explain the behavior of commodity prices. This framework, however, has been unable to explain the marked and sustained weakness in commodity prices during the 1980s and 1990s. This paper extends that framework in two important directions: First, it incorporates commodity supply in the analysis, capturing the impact on prices of the sharp increase in commodity exports of developing countries during the debt crisis of the 1980s. Second, we take a broader view of “world” demand that extends beyond the industrial countries and includes output developments in Eastern Europe and the former Soviet Union (FSU). The empirical results support these extensions, as both the fit of the model improves substantially and, more importantly, its ability to forecast increases markedly.
Commodity Price Volatility And The Sources Of Growth
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2012-01-01
Commodity Price Volatility And The Sources Of Growth written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-01-01 with Business & Economics categories.
This paper studies the impact of the level and volatility of the commodity terms of trade on economic growth, as well as on the three main growth channels: total factor productivity, physical capital accumulation, and human capital acquisition. We use the standard system GMM approach as well as a cross-sectionally augmented version of the pooled mean group (CPMG) methodology of Pesaran et al. (1999) for estimation. The latter takes account of cross-country heterogeneity and cross-sectional dependence, while the former controls for biases associated with simultaneity and unobserved country-specific effects. Using both annual data for 1970-2007 and five-year non-overlapping observations, we find that while commodity terms of trade growth enhances real output per capita, volatility exerts a negative impact on economic growth operating mainly through lower accumulation of physical capital. Our results indicate that the negative growth effects of commodity terms of trade volatility offset the positive impact of commodity booms; and export diversification of primary commodity abundant countries contribute to faster growth. Therefore, we argue that volatility, rather than abundance per se, drives the "resource curse" paradox.
World Commodity Prices
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Author : Sheila Page
language : en
Publisher:
Release Date : 2001-10-01
World Commodity Prices written by Sheila Page and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-10-01 with Commercial products categories.
Commodity Prices
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Author : Mr.Peter Wickham
language : en
Publisher: International Monetary Fund
Release Date : 1994-01-01
Commodity Prices written by Mr.Peter Wickham and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994-01-01 with Business & Economics categories.
Primary commodities still account for the bulk of exports in many developing countries. However, real commodity prices have been declining almost continuously since the early 1980s and there is evidence of renewed weakness. The appropriate policy response to a terms of trade shock depends importantly on whether the shock is perceived to be temporary or permanent. Our results indicate that the recent weakness in commodity prices is mostly of a secular nature, stressing the need for commodity exporting countries to concentrate on export diversification and other structural policies. There is, however, scope for stabilization funds and the use of hedging strategies since the evidence also suggests commodity prices have become more volatile.
Commodity Prices And Markets
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Author : Takatoshi Ito
language : en
Publisher: University of Chicago Press
Release Date : 2011-03
Commodity Prices And Markets written by Takatoshi Ito and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-03 with Business & Economics categories.
Fluctuations of commodity prices, most notably of oil, capture considerable attention and have been tied to important economic effects. This book advances our understanding of the consequences of these fluctuations, providing both general analysis and a particular focus on the countries of the Pacific Rim.