Commodity Prices And Development Book in PDF, ePub and Kindle version is available to download in english. Read online anytime anywhere directly from your device. Click on the download button below to get a free pdf file of Commodity Prices And Development book. This book definitely worth reading, it is an incredibly well-written.
Commodity Prices and Development by Roman Grynberg,Samantha Newton Pdf
Presenting a complete analysis of the issues surrounding commodity prices and development, this study provides a number of recommendations and policy prescriptions to address the unique set of development issues faced by countries reliant on only a handful of commodities for export earnings.--Résumé de l'éditeur.
Author : Takatoshi Ito,Andrew K. Rose Publisher : University of Chicago Press Page : 346 pages File Size : 54,9 Mb Release : 2011-03 Category : Business & Economics ISBN : 9780226386898
Commodity Prices and Markets by Takatoshi Ito,Andrew K. Rose Pdf
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.
Commodity Price Volatility and Inclusive Growth in Low-Income Countries by Mr.Rabah Arezki,Ms.Catherine A Pattillo,Mr.Marc G Quintyn,Min Zhu Pdf
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.
Global Commodity Markets and Development Economics by Stephan Pfaffenzeller Pdf
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.
Commodity Prices and the New Inflation by Barry Bosworth,Robert Z. Lawrence Pdf
The role of primary commodities in industries economies; The contribution of primary commodity price increases to inflation; Sources of commodity price fluctuations; Grain and petroleum: the role of institutional changes; The policy choices: some general considerations; Commodity stabilization policies: some specific proposals.
Managing Commodity Price Risk in Developing Countries by Stijn Claessens,Ronald C. Duncan,World Bank Pdf
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.
The Macroeconomic Determinants of Commodity Prices by Mr.Eduardo Borensztein,Ms.Carmen Reinhart Pdf
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.
Author : Takatoshi Ito,Andrew K. Rose Publisher : University of Chicago Press Page : 352 pages File Size : 55,5 Mb Release : 2011-02-15 Category : Business & Economics ISBN : 9780226386904
Commodity Prices and Markets by Takatoshi Ito,Andrew K. Rose Pdf
Fluctuations of commodity prices, most notably of oil, capture considerable attention and have been tied to important economic effects, such as inflation and low rates of economic growth. Commodity Prices and Markets advances our understanding of the consequences of these fluctuations, providing both general analysis and a particular focus on the countries of the Pacific Rim. The volume addresses three distinct subjects: the difficulties in forecasting commodity prices, the effects of exogenous commodity price shocks on the domestic economy, and the relationship between price shocks and monetary policy. The ability to forecast commodity prices is difficult but of great importance to businesses and governments, and this volume will be invaluable to professionals and policy makers interested in the field.
After the Boom–Commodity Prices and Economic Growth in Latin America and the Caribbean by Bertrand Gruss Pdf
After skyrocketing over the past decade, commodity prices have remained stable or eased somewhat since mid-2011—and most projections suggest they are not likely to resume the upward trend observed in the last decade. This paper analyzes what this turn in the commodity price cycle may imply for output growth in Latin America and the Caribbean. The analysis suggests that growth in the years ahead for the average commodity exporter in the region could be significantly lower than during the commodity boom, even if commodity prices were to remain stable at their current still-high levels. Slower-than-expected growth in China represents a key downside risk. The results caution against trying to offset the current economic slowdown with demand-side stimulus and underscore the need for ambitious structural reforms to secure strong growth over the medium term.
Food Price Volatility and Its Implications for Food Security and Policy by Matthias Kalkuhl,Joachim von Braun,Maximo Torero Pdf
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.
Author : International Monetary Fund Publisher : International Monetary Fund Page : 45 pages File Size : 52,8 Mb Release : 2012-01-01 Category : Business & Economics ISBN : 9781463954765
Commodity Price Volatility and the Sources of Growth by International Monetary Fund Pdf
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.
Excerpt: Shifting Commodity Markets in a Globalized World by Mr.Rabah Arezki,Mr.Akito Matsumoto Pdf
This paper discusses developments and prospects for energy, metals, and food markets since the early 2000s, the start of what is termed a commodities supercycle—the rise of commodity prices over a decade or more as a result of a rapid urbanization and an expansion of infrastructure. Macroeconomists often assume that technological innovation is exogenous (driven largely by external factors or forces), but this volume documents how innovation in energy markets is directly affected by prices. When oil, natural gas, or fossil fuels become scarce, prices increase. This stimulates innovation and the adoption of new technologies and techniques for recovery and use of these resources. Conversely, when these commodities are abundant, prices fall, slowing the pace of innovation and the adoption of new techniques. At the heart of international trade in commodities are cross-country differenc¬es in resource endowments. Natural resources are materials or substances that occur in nature and can be used for economic gain, and so these include not only reserves of hydrocarbons, minerals, fisheries, and forests, but also temperate weather, fertile land, and access to water, which are important to agriculture.
Commodity Prices by Mr.Peter Wickham,Ms.Carmen Reinhart Pdf
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.
Managing Global Growth Risks and Commodity Price Shocks by Ms.Stefania Fabrizio Pdf
As part of its work to help low-income countries manage volatility, the IMF has developed an analytical framework for assessing vulnerabilities and emerging risks that arise from changes in the external environment. This paper draws on the results of the first vulnerability exercise for low-income countries conducted by the IMF staff using this new framework. It focuses on the risks of a downturn in global growth and of further global commodity price shocks and discusses related policy challenges. Chapters review recent macroeconomic developments, including the spike in global commodity prices in early 2012; assess current risks and vulnerabilities, including how a sharp downturn in global growth and further commodity price shocks would affect low-income countries; and discuss policy challenges in the face of these risks and vulnerabilities.
