Abstract
Discussions on the development problems of commodity producing countries have been dominated by proposals for stabilizing world prices of commodities, in particular via the establishment of a “Common Fund” within the framework of UNCTAD’s Integrated Program for Commodities. Professor Ahmad argues that price instability is, however, merely a symptom of other, underlying problems, and outlines the implications of this for development policy.
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References
Cf., for instance, J. Spraos: The Statistical Debate on the Net Barter Terms of Trade Between Primary Commodities and Manufactures, in: Economic Journal, Vol. 90, March 1980; and I. B. Kravis and R. E. Lipsey: Prices and Terms of Trade for Developed Country Exports of Manufactured Goods, NBER Working Paper No. 774, Cambridge, Mass. 1982.
see Jaleel Ahmad: Commodity Prices, Indexation, and Structural Changes, Department of Economics, Concordia University, Montreal, March 1983 (mimeo).
Cf. Arthur Lewis: The Evolution of the International Economic Order, Princeton University Press, 1977.
For an empirical estimation of the differential effects of buffer stocks and quotas with respect to commodity exports of the Ivory Coast and Kenya, see H. Dick, S. Gupta, T. Mayer, and D. Vincent: Indexation of UNCTAD Core Commodity Prices by Buffer Stocks or Export Quotas? A Comparison of the Benefits for Two Developing Economies, in: Journal of Development Economics, Vol. 11, No. 3, December 1982.
For a theoretical discussion, cf. Jaleel Ahmad, op. cit. see Jaleel Ahmad: Commodity Prices, Indexation, and Structural Changes, Department of Economics, Concordia University, Montreal, March 1983 (mimeo).
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Ahmad, J. Commodity price stabilization and the developing countries. Intereconomics 20, 284–287 (1985). https://doi.org/10.1007/BF02925469
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DOI: https://doi.org/10.1007/BF02925469