Commodity price shocks and the distribution of income in commodity-dependent least-developed countries
| Autor: | Rudiger von Arnim, Bernhard Tröster, Cornelia Staritz, Werner Raza |
|---|---|
| Rok vydání: | 2018 |
| Předmět: |
Computable general equilibrium
010407 polymers Economics and Econometrics business.industry 05 social sciences Distribution (economics) Monetary economics 01 natural sciences Windfall gain 0104 chemical sciences 0502 economics and business Economics Production (economics) 050207 economics business Commodity (Marxism) Least Developed Countries Price shock |
| Zdroj: | Journal of Policy Modeling. 40:434-451 |
| ISSN: | 0161-8938 |
| DOI: | 10.1016/j.jpolmod.2018.02.008 |
| Popis: | Many least developed countries (LDCs) face commodity dependence on the export and import side. This paper develops a structuralist computable general equilibrium model for commodity-dependent LDCs and simulates global commodity price shocks for Burkina Faso, Ethiopia and Mozambique. Results show important macroeconomic and distributional effects. Although increasing export commodity prices are beneficial, the high correlation with import commodity prices causes low or even negative combined effects. The magnitude of effects depends on the degree of import and export dependence, the production structure of the key commodity sectors and policies that determine the distribution of windfall profits. |
| Databáze: | OpenAIRE |
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