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Commodity Market Stabilisation and `North-South' Income Transfers: An Empirical Investigation

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  • Hughes Hallett, Andrew

Abstract

Commodity stabilisation agreements have often been suggested as a means of stabilising producers' revenues and redistributing productive resources to less developed economies (from "North" to "South"). But no empirical estimates of how much may be expected from such agreements, nor of what they would cost to operate, have appeared. This paper examines, in the context of one market, how far prices can be stabilised by buffer stock interventions, the costs of that stabilisation, and whether any redistribution would be achieved. We find pure stabilisation leads to transfers away from the South, but that supply restrictions which force redistribution are extremely expensive. However it is relatively cheap to protect producers in the South against the uncertainty of future revenues.

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Bibliographic Info

Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 98.

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Date of creation: Apr 1986
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Handle: RePEc:cpr:ceprdp:98

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Related research

Keywords: Buffer Stocks; Commodity Stabilisation Schemes; North-South Models;

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Cited by:
  1. van Groenendaal, Willem & de Zeeuw, Aart, 1991. "Control, coordination and conflict on international commodity markets," Economic Modelling, Elsevier, vol. 8(1), pages 90-101, January.
  2. Groenendaal, W.J.H. van & Vingerhoets, J.W.A., 1995. "Can international commodity agreements work?," Open Access publications from Tilburg University urn:nbn:nl:ui:12-388321, Tilburg University.

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