Primary Commodities And Economic Development
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Primary Commodities And Economic Development
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Author : Stephan Pfaffenzeller
language : en
Publisher: Taylor & Francis
Release Date : 2016-08-12
Primary Commodities And Economic Development written by Stephan Pfaffenzeller and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-08-12 with Business & Economics categories.
Our post-industrialised global economy has achieved spectacular success and pushed back poverty to an extent previously thought impossible. This success is ultimately based on the continued supply of both renewable and non-renewable resources. Will this supply of primary commodities remain sufficient to support global economic growth? Why are the gains for countries specialising on commodity production often so limited? Can commodity dependent countries diversify into other economic activities? Primary Commodities and Economic Development addresses the changing position of primary commodities in the world economy and investigates their importance for commodity exporting under-developed countries. The book commences with a review of the theoretical foundations for inter-dependence between commodity specialisation and economic underdevelopment. Having related the role of commodity exports and the commodity terms of trade to growth models relevant to developing economies, the discussion shifts to an in-depth review of the statistical properties of the commodity terms of trade. The review of commodity price trends at the global level is then rounded off with a series of country case studies showing the concrete threats and opportunities surrounding commodity specialization. This book will be of essential reading for those with an interest in development economics and international economics, as well as for scholars of natural resource and agricultural economics.
Commodities Governance And Economic Development Under Globalization
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Author : Machiko Nissanke
language : en
Publisher: Springer
Release Date : 2010-01-20
Commodities Governance And Economic Development Under Globalization written by Machiko Nissanke and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-01-20 with Business & Economics categories.
Alfred Maizels' work on commodity trade and prices documented trends in a major area of international economic relations. This book elaborates the ideas in the tradition of Maizels' contributons, and discusses and extends these theories in relation to current problems.
Commodity Exports And Economic Development
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Author : Francis Gerard Adams
language : en
Publisher:
Release Date : 1982
Commodity Exports And Economic Development written by Francis Gerard Adams and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1982 with Business & Economics categories.
The commodity problem, development goals, and policies; Review of previous studies of the impact of the commodity problem on developing-country goal attainment; An integrated econometric approach to the commodity problem and economic development - preview, country and commodity selection, and country sketches; Macroeconometric models for project countries; Microeconometric models of the primary-commodity-producing sectors; Econometric models of international commodity markets; The impact of fluctuations in international commodity markets on goal attainment in developing countries; The impact of secular movements in international commodity markets on goal attainment in developing countries; Policy responses to the commodity problem; The commodity problem, goal attainment, and policies in developing countries: conclusions.
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.
A Handbook Of Primary Commodities In The Global Economy
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Author : Marian Radetzki
language : en
Publisher: Cambridge University Press
Release Date : 2020-11-26
A Handbook Of Primary Commodities In The Global Economy written by Marian Radetzki and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-11-26 with Business & Economics categories.
Revised edition of A handbook of primary commodities in the global economy, 2017.
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.
Primary Commodity Prices
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Author : L. Alan Winters
language : en
Publisher: Cambridge University Press
Release Date : 1990-03-08
Primary Commodity Prices written by L. Alan Winters and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990-03-08 with Business & Economics categories.
Commodity markets are of considerable interest and importance to economists, econometricians and dealers. This book reports the proceedings of an international conference on 'Primary Commodity Prices: Economic Models and Policy', held in London under the auspices of the Centre for Economic Policy Research in March 1989. A range of papers by leading international authorities covers topics such as expectations formation in econometric commodity market models; price determination in the market for aluminium; the estimation of dynamic disequilibrium models with rational expectations; and a comparison of forward markets and buffer stocks as commodity earnings stabilizers. A key feature of this stock is its development of the policy implications of theoretical and empirical work in the field of commodity economics. Most papers are accompanied by discussant's comments to draw out their technical and policy implications. The book's readership will include commodity economists, commodity market practitioners and policy analysis, as well as professionals and advanced students interested in the fields of applied econometrics, economic development and international trade.
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.
A Handbook Of Primary Commodities In The Global Economy
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Author : Marian Radetzki
language : en
Publisher: Cambridge University Press
Release Date : 2020-11-26
A Handbook Of Primary Commodities In The Global Economy written by Marian Radetzki and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-11-26 with Business & Economics categories.
The dramatic price falls of 2014–2015 marked the end of the most powerful and enduring commodity boom since the Second World War. Now in its third edition, this book acts as a guide to the ins and outs of the primary commodity universe. Updates to this edition reflect on the consequences of both China's economic slowdown as its industrialization enters a new, less commodity demanding phase, and changes in the USA's trade policy under the Trump administration. Additionally, this edition takes into account recent developments in world oil markets and examines the effects of increased climate concerns. The authors introduce and explain pertinent issues surrounding international commodity markets such as the global geography of raw materials, price formation, price trends, the role of commodity exchanges, the threat of depletion, cartel action, state ownership, emerging commodity nationalism and more.
Commodity Markets
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Author : John Baffes
language : en
Publisher: World Bank Publications
Release Date : 2022-12-07
Commodity Markets written by John Baffes 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 2022-12-07 with Business & Economics categories.
Commodity markets are integral to the global economy. Understanding what drives developments of these markets is critical to the design of policy frameworks that facilitate the economic objectives of sustainable growth, inflation stability, poverty reduction, food security, and the mitigation of climate change. This study is the first comprehensive analysis examining market and policy developments for all commodity groups, including energy, metals, and agriculture, over the past century. It finds that, while the quantity of commodities consumed has risen enormously, driven by population and income growth, the relative importance of commodities has shifted over time, as technological innovation created new uses for some materials and facilitated substitution among commodities. The study also shows that commodity markets are heterogeneous in terms of their drivers, price behavior, and macroeconomic impact on emerging markets and developing economies, and that the relationship between economic growth and commodity demand varies widely across countries, depending on their stage of economic development. Policy frameworks that enable countercyclical macroeconomic responses have become increasingly common—and beneficial. Other policy tools have had mixed outcomes. Discussions about commodity-exporting emerging markets are often based on ideas without empirical or analytical support. This book is a great contribution to improve our understanding of those economies, based on rigorous research. It provides robust empirical evidence including a long-term perspective on commodity prices. It also contains very thoughtful policy analysis, with implications for resilience, macroeconomic policies, and development strategies. It will be a key reference for scholars as well as policy makers. José De Gregorio Dean of the School of Economics and Business Universidad de Chile Former Minister of Economy, Mining and Energy and Former Governor of the Central Bank of Chile A sound understanding of commodity markets is more essential than ever in light of the COVID-19 pandemic, the war in Ukraine, and the transition from fossil fuels to renewable energy commodities. This volume offers an excellent, comprehensive, and very timely analysis of the wide range of factors that affect commodity markets. It carefully surveys historical and future trends in commodity supply, demand, and prices, and offers detailed policy proposals to avoid the havoc that turbulent commodity markets can cause on the economies of commodity exporters and importers. Rick Van der Ploeg Research Director of Oxford Centre for the Analysis of Resource-Rich Economies University of Oxford