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Attenuating through Aid the Vulnerability to Price Shocks

Author

Listed:
  • Lisa CHAUVET

    ()

  • Patrick GUILLAUMONT

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

  • Sylviane GUILLAUMONT JEANNENEY

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

  • Pierre JACQUET
  • Bertrand SAVOYE

Abstract

The purpose of this paper is to examine what kind of global measures may be efficiently implemented to help the developing countries to face price shocks, avoiding the past failures, which needs to take into account the long term trend of the markets. Firstly, we recall the nature of the vulnerability to price shocks: this legitimates to make the dampening of these shocks a reasonable goal for the development cooperation policy. Then, we consider the rationality of some international schemes of insurance or of guarantee which could be implemented through international assistance for countries facing price shocks: this assistance should be provided on a macroeconomic level, in particular through debt management, and on a microeconomic level, for instance through an insurance for the producers. The general principle underlying our proposals is that international assistance can enable developing countries to face price shocks, while taking into account the market signals, by offering a guarantee to these countries provided they respect some management rules.

Suggested Citation

  • Lisa CHAUVET & Patrick GUILLAUMONT & Sylviane GUILLAUMONT JEANNENEY & Pierre JACQUET & Bertrand SAVOYE, 2003. "Attenuating through Aid the Vulnerability to Price Shocks," Working Papers 200325, CERDI.
  • Handle: RePEc:cdi:wpaper:448
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    Cited by:

    1. Sylviane GUILLAUMONT JEANNENEY & Patrick GUILLAUMONT, 2007. "Absorptive Capacity: More Than the Volume of Aid, its Modalities Matter," Working Papers 200702, CERDI.
    2. Daniel Cohen & Pierre Jacquet & Helmut Reisen, 2007. "Loans or Grants?," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 143(4), pages 764-782, December.
    3. Julie SUBERVIE, 2006. "The impact of world price instability on agricultural supply according to several macroeconomic factors," Working Papers 200604, CERDI.
    4. 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.
    5. Sylviane GUILLAUMONT JEANNENEY & Patrick GUILLAUMONT, 2006. "Big Push versus Absorptive Capacity: How to Reconcile the Two Approaches," Working Papers 200614, CERDI.
    6. Paul Collier, 2004. "Ressources naturelles, développement et conflits : liens de causalité et mesures politiques," Revue d’économie du développement, De Boeck Université, vol. 12(3), pages 197-215.
    7. 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.
    8. Patrick Guillaumont, 2005. "Pourquoi donner de l'aide ? Commentaires autour de la notion de sélectivité," Revue d’économie du développement, De Boeck Université, vol. 13(2), pages 51-60.
    9. Olajide S. Oladipo, 2017. "Export Instability and Economic Growth in Nigeria: A Time Series Analysis," Research Papers RP_322, African Economic Research Consortium.

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