Commodity Prices and Growth in Africa
نویسندگان
چکیده
منابع مشابه
Commodity Prices and Growth in Africa
A frican economies export primary commodities, and most export little else. Policymakers as well as economists and historians of African economic development have seen these exports as both a hope and a curse. The following parable tells the story: Once upon a time, a servant of the ruler discovered a miraculous plant, which grew readily in that country, and whose seeds could be woven into fine...
متن کاملCommodity Prices and Growth∗
In this paper we propose an endogenous growth model of commodity-rich economies in which: (i) long-run (steady-state) growth is endogenous and yet independent of commodity prices; (ii) commodity prices affect short-run growth through transitional dynamics; and (iii) the status of net commodity importer/exporter is endogenous. We argue that these predictions are consistent with historical eviden...
متن کاملInternational Commodity Prices, Growth, and the Outbreak of Civil War in Sub-Saharan Africa
To learn more about the effect of economic conditions on civil war, we examine whether Sub-Saharan civil wars are more likely to start following downturns in the international price of countries’ main export commodities. The data show a robust effect of commodity price downturns on the outbreak of civil wars. We also find that Sub-Saharan countries are more likely to see civil wars following ec...
متن کاملConmmodity Prices and Growth in Africa
A frican economies export primary commodities, and most export little else. Policymakers as well as economists and historians of African economic development have seen these exports as both a hope and a curse. The following parable tells the story: Once upon a time, a servant of the ruler discovered a miraculous plant, which grew readily in that country, and whose seeds could be woven into fine...
متن کاملImperfect Markets and Commodity Prices Under Demand Pull
This paper presents a theoretical view of imperfect market. It concludes that an increase in the price of products does not give any incentive to increasing production which shows the mechanism for upward trends in prices.
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ژورنال
عنوان ژورنال: Journal of Economic Perspectives
سال: 1999
ISSN: 0895-3309
DOI: 10.1257/jep.13.3.23