search query: @indexterm COMMODITY PRICES / total: 32
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| Author: | Reinhart, C. Wickham, P. |
| Title: | Commodity prices: Cyclical weakness or secular decline? |
| Journal: | Staff Papers
1994 : JUN, VOL. 41:2, p. 175-213 |
| Index terms: | COMMODITY PRICES FUNDS EXPORTS |
| Language: | eng |
| Abstract: | Primary commodities still account for the bulk of exports in many developing countries. However, real commodity prices have been declining almost continiously since the early 1980s. The appropriate policy response to a terms of trade shock depends importantly on whether the shock is perceived to be temporary or permanent. The authors' results indicate that the recent weakness in commodity prices is mostly secular, stressing the need for commodity exporting countries to concentrate on export diversification and other structural policies. |
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