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Commodity prices, trade, and poverty in Uruguay

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  • Estrades, Carmen
  • Terra, María Inés

Abstract

The 2006–2008 food price spike raised concerns about the impact of high commodity prices on poverty in developing countries. This paper addresses these concerns in relation to Uruguay, a small country that exports agricultural commodities and imports fuels. Applying a general equilibrium model, we find that, as a whole, an increase in commodity prices has a positive effect on the economy of Uruguay. Benefits obtained through a growth in export activities are partially outweighed by an increase in crude oil prices. In this context, extreme poverty increases. As in other countries, the increase in food prices affects the already poor population, who become even poorer. This fact highlights the need for policies that mitigate the negative effects of price shocks.

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Bibliographic Info

Article provided by Elsevier in its journal Food Policy.

Volume (Year): 37 (2012)
Issue (Month): 1 ()
Pages: 58-66

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Handle: RePEc:eee:jfpoli:v:37:y:2012:i:1:p:58-66

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Web page: http://www.elsevier.com/locate/foodpol

Related research

Keywords: Commodity prices; Poverty; International trade; Computable general equilibrium model;

References

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  15. Jose Antonio Ocampo & Maria Angela Parra, 2004. "The Terms Of Trade For Commodities In The Twentieth Century," International Trade 0402006, EconWPA.
  16. Headey, Derek, 2011. "Rethinking the global food crisis: The role of trade shocks," Food Policy, Elsevier, vol. 36(2), pages 136-146, April.
  17. Carmen Estrades & María Inés Terra, 2011. "Fighting Informality in Segmented Labor Markets. A General Equilibrium Analysis Applied to Uruguay," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 48(1), pages 1-37.
  18. Mitchell, Donald, 2008. "A note on rising food prices," Policy Research Working Paper Series 4682, The World Bank.
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Citations

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Cited by:
  1. Dawe, David & Maltsoglou, Irini, 2014. "Marketing margins and the welfare analysis of food price shocks," Food Policy, Elsevier, vol. 46(C), pages 50-55.
  2. Fleming, David A. & Abler, David G., 2013. "Does agricultural trade affect productivity? Evidence from Chilean farms," Food Policy, Elsevier, vol. 41(C), pages 11-17.

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