Financial stabilization systems, economic growth of developing countries and EU’s STABEX
Understanding the impact of instability of export receipts on the economic growth of developing countries has been an important area of research in development economics for a long time. A substantial body of literature has documented a wide range of empirical regularities according to which export earnings instability (EEI) penalizes LDCs’ economic performance. According to this view, EEI alters the path of economic progress by increasing the uncertainty of financial resources needed to purchase capital goods1. This, in turn, reduces the overall level of efficiency of a country because the formation of capital is distorted by bad investments planning (Commission of the EC 1981, 1997)
|Date of creation:||2002|
|Publication status:||Published in Journal of Agriculture and Environment for International Development 96.1/2(2002): pp. 23-51|
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- Patrick Guillaumont & Sylviane Guillaumont Jeanneney & Aristomène Varoudakis, 1999. "Economic Policy Reform and Growth Prospects in Emerging African Economies," OECD Development Centre Working Papers 145, OECD Publishing.
- Paul Collier & P. Guillaumont & S. Guillaumont Jeanneney & Jan Willem Gunning, 1999. "Reforming Stabex," The World Economy, Wiley Blackwell, vol. 22(5), pages 669-682, 07.
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