Managing Commodity Booms--and BustsWorld Bank Publications, 1995 - 22 pages World Bank Discussion Paper No. 314. In 1994, Colombia replaced its state-run, pay-as-you-go pension system with a privately run, fully-funded scheme. This study analyzes prospective fiscal and macroeconomic implications of the reform. It compares the features of the country's old and new pension systems, puts them in a broader international context, and examines the reform transition |
From inside the book
Results 1-5 of 6
Page 9
... farmers . In several commodity - dependent countries , particularly in Africa , sig- nificant antiexport bias already exists because of macroeconomic insta- bility , import protection , and aid inflows . Therefore , avoiding the Dutch ...
... farmers . In several commodity - dependent countries , particularly in Africa , sig- nificant antiexport bias already exists because of macroeconomic insta- bility , import protection , and aid inflows . Therefore , avoiding the Dutch ...
Page 11
... farmers with extension services . For lower - income countries the lesson of diversification is that failing to attach a sufficiently high pri- ority to agriculture while favoring other sectors is counterproductive . Many of these ...
... farmers with extension services . For lower - income countries the lesson of diversification is that failing to attach a sufficiently high pri- ority to agriculture while favoring other sectors is counterproductive . Many of these ...
Page 12
... farmers than the committed price . Similarly , traders might contract to buy the commodi- ty from farmers at a fixed price in the future but would suffer if the price fell . They would receive a lower price when selling the commodity ...
... farmers than the committed price . Similarly , traders might contract to buy the commodi- ty from farmers at a fixed price in the future but would suffer if the price fell . They would receive a lower price when selling the commodity ...
Page 17
... farmers ? There are arguments in favor of leaving at least part of revenue stabilization to farmers . Much of the debate hinges on whether farmers can make the right choices . The evidence , while far from complete , is favorable ...
... farmers ? There are arguments in favor of leaving at least part of revenue stabilization to farmers . Much of the debate hinges on whether farmers can make the right choices . The evidence , while far from complete , is favorable ...
Page 18
... farmers and the rural sector to the government . Alternatively , if farmers hold the windfall gains as savings in foreign currency bonds , most of the benefits from the boom remain with them . How to manage booms Since the recent price ...
... farmers and the rural sector to the government . Alternatively , if farmers hold the windfall gains as savings in foreign currency bonds , most of the benefits from the boom remain with them . How to manage booms Since the recent price ...
Other editions - View all
Common terms and phrases
agricultural Analysis Unit boom ends BOOM WON'T CONTINUE booming commodity booming sector booms and busts central bank claimants cocoa cocoa prices coffee boom coffee exporters Colombia Commodity boom bonds Commodity Policy commodity-exporting countries copper prices costs Côte d'Ivoire cotton current US dollars developing countries Dutch disease effects export commodity export revenues export taxes external debt farmers financial markets fiscal policies fluctuations foreign exchange inflows foreign reserves government revenues Groundnut oil import restrictions income International Economics Department investment LEARNING FROM EXPERIENCE manage booms manage commodity ments Metals and minerals monetary base monetary policies nonbooming oil prices options palm oil percent Policy and Analysis policymakers price declines price rises primary commodity prices private sector problems production programs real exchange rate reduced foreign debt Revenue stabilization funds risk management rubber savings in foreign short-term price Sub-Saharan Africa swaps Tanzania trade windfall gains windfall profit tax windfall revenues windfall tax World Bank
Popular passages
Page 7 - Pacific Europe and Central Asia Latin America and the Caribbean Middle East and North Africa...
Page 20 - In the past, many commodity-exporting countries have entered such agreements in an attempt to stabilize and, in many cases, raise prices. In anything but the short term, none has succeeded. References Adams, Robin G. (Resource Strategies, Inc.). 1995. Interview in The Financial Times, March 31 . Bauer, Peter. 1984. "Remembrance of Studies Past: Retracing First Steps.
Page 13 - The decision whether to vacuum pack or gas flush a consumer package depends on a number of factors. Among the most important are the type of product to be packed and its consistency. "Gas flush is a function of the product to be packaged," offers Tom Taylor, product manager, smoked and processed meat, Cryovac.
Page 21 - Kenya, 1975-81." In Tony Killick, ed., The IMF and Stabilization. London: Heinemann.
Page 15 - On the fiscal side, coffee tax revenues were used to turn a deficit of 5.2 percent of GDP in 1984 into a small surplus in 1986.