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 |
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Page vii
... less competitive in global markets and , ultimately , lead to a decline in domestic production in other , nonbooming sectors . This is sometimes known as Dutch disease , after the experience of the Netherlands in the 1960s following the ...
... less competitive in global markets and , ultimately , lead to a decline in domestic production in other , nonbooming sectors . This is sometimes known as Dutch disease , after the experience of the Netherlands in the 1960s following the ...
Page x
... less painful to begin such programs when prices are high , and booming sectors will be better able to cope with lower commodity prices when the boom subsides . A revenue stabilization fund may be an option under some circum- stances ...
... less painful to begin such programs when prices are high , and booming sectors will be better able to cope with lower commodity prices when the boom subsides . A revenue stabilization fund may be an option under some circum- stances ...
Page 2
... less competitive and , ultimately , lead to a decline in domestic production in other sectors , notably manufac ... less than in the 1970s . This means that the crop yield effects of higher fertilizer prices are less today than during ...
... less competitive and , ultimately , lead to a decline in domestic production in other sectors , notably manufac ... less than in the 1970s . This means that the crop yield effects of higher fertilizer prices are less today than during ...
Page 5
... less than rosy . The World Bank's index of primary commodity prices is expected to increase by 8.6 percent in nominal terms in 1995 and then decline in 1996 and 1997. In real terms , it is projected to decline 8 percent by 2000 from the ...
... less than rosy . The World Bank's index of primary commodity prices is expected to increase by 8.6 percent in nominal terms in 1995 and then decline in 1996 and 1997. In real terms , it is projected to decline 8 percent by 2000 from the ...
Page 11
... less than the cur- rent market rate of interest — an implicit tax . The bonds would have had different consequences if they had been issued by the government rather than the central bank . The government might have spent the revenues ...
... less than the cur- rent market rate of interest — an implicit tax . The bonds would have had different consequences if they had been issued by the government rather than the central bank . The government might have spent the revenues ...
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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.