Commodity Prices : Cyclical Weakness or Secular Decline? /

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 importantl...

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Bibliografske podrobnosti
Glavni avtor: Wickham, Peter
Drugi avtorji: Reinhart, Carmen
Format: Revija
Jezik:English
Izdano: Washington, D.C. : International Monetary Fund, 1994.
Serija:IMF Working Papers; Working Paper ; No. 1994/007
Online dostop:Full text available on IMF
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100 1 |a Wickham, Peter. 
245 1 0 |a Commodity Prices :   |b Cyclical Weakness or Secular Decline? /  |c Peter Wickham, Carmen Reinhart. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 1994. 
300 |a 1 online resource (58 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a 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. 
538 |a Mode of access: Internet 
700 1 |a Reinhart, Carmen. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 1994/007 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/1994/007/001.1994.issue-007-en.xml  |z IMF e-Library