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 v
... production to shift from exports to domes- tic markets have nothing to show for it at the end of the boom and find it difficult to undo the misalignment in relative prices produced by the boom . This booklet focuses on the management of ...
... production to shift from exports to domes- tic markets have nothing to show for it at the end of the boom and find it difficult to undo the misalignment in relative prices produced by the boom . This booklet focuses on the management of ...
Page vii
... production in other , nonbooming sectors . This is sometimes known as Dutch disease , after the experience of the Netherlands in the 1960s following the discovery ( and export boom ) of North Sea gas . Another problem associated with ...
... production in other , nonbooming sectors . This is sometimes known as Dutch disease , after the experience of the Netherlands in the 1960s following the discovery ( and export boom ) of North Sea gas . Another problem associated with ...
Page 1
... production returns to normal or higher levels . Although many commodity prices have probably peaked , developing countries still have an opportunity ( albeit brief ) to improve their fiscal positions before prices fall . Most exports of ...
... production returns to normal or higher levels . Although many commodity prices have probably peaked , developing countries still have an opportunity ( albeit brief ) to improve their fiscal positions before prices fall . Most exports of ...
Page 2
... production in other sectors , notably manufac- turing . Commodity booms also hold back diversification into other export commodities . Box 1. Boom , boom The recent commodity boom differs from that of the 1970s in several ways . In 1973 ...
... production in other sectors , notably manufac- turing . Commodity booms also hold back diversification into other export commodities . Box 1. Boom , boom The recent commodity boom differs from that of the 1970s in several ways . In 1973 ...
Page 4
... production capacity , which Table 1. Weighted index of primary commodity prices for low- and middle - income economies in current dollars 1990 = 100 Nonfuel commo- dities Total Total Grains Petroleum ( 100.0 ) ( 69.1 ) ( 29.4 ) ( 6.9 ) ...
... production capacity , which Table 1. Weighted index of primary commodity prices for low- and middle - income economies in current dollars 1990 = 100 Nonfuel commo- dities Total Total Grains Petroleum ( 100.0 ) ( 69.1 ) ( 29.4 ) ( 6.9 ) ...
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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.