Managing Commodity Booms--and BustsWorld Bank, 1995 - 22 pages In developing countries dependent on a few commodities for their exports, booming commodity markets can be beneficial or detrimental depending how they manage the windfalls. Two key problems need to be addressed: the fluctuations in income, and transitory bonanzas in foreign exchange earnings. This second effect, in particular, is likely to cause the exchange rate to appreciate above its long-term sustainable level. - Foreword. |
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Page vii
Panayotis N. Varangis, Takamasa Akiyama, Donald Mitchell. Summary Booming commodity markets can bring economic good ... commodity subsectors— even when producers are aware that the boom is temporary vii Summary.
Panayotis N. Varangis, Takamasa Akiyama, Donald Mitchell. Summary Booming commodity markets can bring economic good ... commodity subsectors— even when producers are aware that the boom is temporary vii Summary.
Page x
... boom . Diversify and adjust . It is 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 ...
... boom . Diversify and adjust . It is 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 ...
Page 10
... boom - time tax revenues . Excessively high export taxes can cause other problems , such as tax evasion and smuggling , that can lower tax revenues and cause serious disruptions in the domestic market for the booming commodity . Uganda ...
... boom - time tax revenues . Excessively high export taxes can cause other problems , such as tax evasion and smuggling , that can lower tax revenues and cause serious disruptions in the domestic market for the booming commodity . Uganda ...
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agricultural Analysis Unit benefits boom ends booming commodity booming sector booms and busts capital controls central bank claimants cocoa cocoa prices coffee boom coffee exporters Colombia Commodity boom bonds commodity exports Commodity Policy commodity-exporting countries copper prices costs Côte d'Ivoire 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