This paper investigates the role of aid in mitigating the adverse effects of commodity export price shocks on growth in commodity-dependent countries. Using a large crosscountry dataset, we find that negative shocks matter for short-term growth, while the ex ante risk of shocks does not seem to matter. We also find that both the level of aid and the flexibility of the exchange rate substantiall...

FOR MOST COUNTRIES, HIGH PRODUCTIVITY GROWTH IN THE AGRICULTURAL SECTOR HAS BEEN A KEY DRIVER of structural transformation promoting long-term economic growth. Historically, low agricultural productivity growth has hindered economic growth and employment creation in the Philippines, where agriculture—which accounts for one-third of employment—remains a key sector. Climate change has the potenti...

ESEE 2015, Chania, GreeceConference dates: July 4 – 7, 2017Conference Theme: Transformative learning: new directions in agricultural extension and educationThe 23rd European Seminar on Extension (and) Education (ESEE) will be held in the MediterraneanAgronomic Institute of Chania, and hosted by the Lab. of Agricultural Extension, Rural Systems &Rural Sociology, Dept. of Agricultural Economics &...

We study here numerically the behavior of an ideal gas like model of markets having only one non-consumable commodity. We investigate the behavior of the steady-state distributions of money, commodity and total wealth, as the dynamics of trading or exchange of money and commodity proceeds, with local (in time) fluctuations in the price of the commodity. These distributions are studied in market...

government interventions in agricultural markets in order to stabilize commodity prices and producer incomes have had a long tradition. intervention has been at both the state and country levels and has been for the most part in the form of commodity-based schemes. this study represents an attempt to develop an appropriate methodology for analyzing the aggre-gate effects of a particular type of...

This paper examines the endogenous emergence of a commodity money in a trading post economy. The commodity money is defined as the common medium of exchange and is determined by the equilibrium pattern of exchange. The long run equilibria are analyzed using an evolutionary style model. Agents follow a simple adaptive process, generating dynamics that are reduced to a Markov process. Examples ar...

“In primitive traffic the economic man is awaking but very gradually to an understanding of the economic advantages to be gained by exploitation of existing opportunities of exchange...Consider how seldom it is the case, that a commodity owned by somebody is of less value in use than another commodity owned by someone else! And for the latter just the opposite relation is the case. But how much...

Recent human population increase has been enabled by a massive expansion of global agricultural production. A key component of this "Green Revolution" has been application of inorganic fertilizers to produce and maintain high crop yields. However, the long-term sustainability of these practices is unclear given the eutrophying effects of fertilizer runoff as well as the reliance of fertilizer p...