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Commodity Price Volatility and the Sources of Growth

2012-01-01 Business & Economics
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Release : 2012-01-01
Genre : Business & Economics
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Book Rating : 76X/5 ( reviews)

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Book Synopsis Commodity Price Volatility and the Sources of Growth by : International Monetary Fund

Download or read book Commodity Price Volatility and the Sources of Growth written by International Monetary Fund. This book was released on 2012-01-01. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Commodity Price Volatility and Inclusive Growth in Low-Income Countries

2012-10-24 Business & Economics
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Release : 2012-10-24
Genre : Business & Economics
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Book Rating : 193/5 ( reviews)

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Book Synopsis Commodity Price Volatility and Inclusive Growth in Low-Income Countries by : Mr.Rabah Arezki

Download or read book Commodity Price Volatility and Inclusive Growth in Low-Income Countries written by Mr.Rabah Arezki. This book was released on 2012-10-24. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Commodity Price Volatility and the Sources of Growth

2011
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Release : 2011
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Book Synopsis Commodity Price Volatility and the Sources of Growth by : Tiago V. de V. Cavalcanti

Download or read book Commodity Price Volatility and the Sources of Growth written by Tiago V. de V. Cavalcanti. This book was released on 2011. Available in PDF, EPUB and Kindle. Book excerpt:

Food Price Volatility and Its Implications for Food Security and Policy

2016-04-12 Business & Economics
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Release : 2016-04-12
Genre : Business & Economics
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Book Rating : 018/5 ( reviews)

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Book Synopsis Food Price Volatility and Its Implications for Food Security and Policy by : Matthias Kalkuhl

Download or read book Food Price Volatility and Its Implications for Food Security and Policy written by Matthias Kalkuhl. This book was released on 2016-04-12. Available in PDF, EPUB and Kindle. Book excerpt: 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 Economics of Food Price Volatility

2014-10-14 Business & Economics
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Release : 2014-10-14
Genre : Business & Economics
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Book Rating : 92X/5 ( reviews)

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Book Synopsis The Economics of Food Price Volatility by : Jean-Paul Chavas

Download or read book The Economics of Food Price Volatility written by Jean-Paul Chavas. This book was released on 2014-10-14. Available in PDF, EPUB and Kindle. Book excerpt: "The conference was organized by the three editors of this book and took place on August 15-16, 2012 in Seattle."--Preface.

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