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The Economic Consequences of Export Instability in Developing Countries: A Survey

Author

Listed:
  • Catherine ARAUJO BONJEAN

    () (Centre d'Etudes et de Recherches sur le Développement International(CERDI))

  • Jean-Louis COMBES

    () (Centre d'Etudes et de Recherches sur le Développement International(CERDI))

  • Pascale COMBES MOTEL

    () (Centre d'Etudes et de Recherches sur le Développement International(CERDI))

Abstract

In this note we provide a brief survey of the literature about the effects of exports instability in developing countries, mainly focused on commodity dependent economies. Whatever the nature of instability, exports instability generate major disturbances in those economies. Exports instability is often considered as a major source of macroeconomic instability that is welfare costly. Exports instability is also risk generating for individual economic agents who take it into account in their economic decisions but cannot get rid of it in the absence of appropriate credit and insurance devices. We thus examine the macroeconomic consequences of export instability, first in the short term, using the Dutch Disease framework, and second its effects on growth. We then examine the effects of instability from a microeconomic point of view.

Suggested Citation

  • Catherine ARAUJO BONJEAN & Jean-Louis COMBES & Pascale COMBES MOTEL, 1999. "The Economic Consequences of Export Instability in Developing Countries: A Survey," Working Papers 199926, CERDI.
  • Handle: RePEc:cdi:wpaper:125
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    File URL: http://publi.cerdi.org/ed/1999/1999.26.pdf
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    Cited by:

    1. Patrick Guillaumont, 2010. "Assessing the Economic Vulnerability of Small Island Developing States and the Least Developed Countries," Journal of Development Studies, Taylor & Francis Journals, vol. 46(5), pages 828-854.
    2. Aiello, Francesco, 2002. "Financial stabilization systems, economic growth of developing countries and EU’s STABEX," MPRA Paper 38099, University Library of Munich, Germany.
    3. Patrick Guillaumont, 2009. "An Economic Vulnerability Index: Its Design and Use for International Development Policy," Oxford Development Studies, Taylor & Francis Journals, vol. 37(3), pages 193-228.
    4. Jean-Louis COMBES & Patrick GUILLAUMONT, 2000. "Volatilité des prix des produits primaires, vulnérabilité et développement," Working Papers 200014, CERDI.
    5. Patrick GUILLAUMONT, 2007. "EVI and its Use. Design of an Economic Vulnerability Index and its Use for International Development Policy," Working Papers 200714, CERDI.
    6. Jean-Louis COMBES & Patrick GUILLAUMONT, 2000. "Commodity Price Volatility, Vulnerability and Development," Working Papers 200015, CERDI.
    7. Patrick GUILLAUMONT, 2001. "Ouverture, vulnérabilité et développement," Working Papers 200103, CERDI.

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