Patrick GUILLAUMONT () (Centre d'Etudes et de Recherches sur le Développement International) Jean-Louis COMBES () (Centre d'Etudes et de Recherches sur le Développement International)
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This paper examines the meaning and consequences of the developing countries economic vulnerability to the volatility of commodity prices. It first considers how to define and measure this vulnerability, which has three components, shocks, exposure and resilience, and focuses on the two first ones in order to identify the structural vulnerability, distinct from the vulnerability linked to the policy. Second, the main channels through which the vulnerability to commodity prices influences economic growth are presented on the basis of several previous cross-sectional growth regression, supplemented by a test given in an annex. Finally, policy implications are drawn related to development aid, its allocation and its design as well.
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Paper provided by CERDI in its series Working Papers with number
200014.
Length: 22 Date of creation: 2000 Date of revision: Handle: RePEc:cdi:wpaper:141
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Paul Collier & P. Guillaumont & S. Guillaumont Jeanneney & Jan Willem Gunning, 1999.
"Reforming Stabex,"
The World Economy,
Blackwell Publishing, vol. 22(5), pages 669-682, 07.
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