Commodity Price Volatility and the Sources of Growth - Economic Research Forum (ERF)

Commodity Price Volatility and the Sources of Growth

Topic: F1. Trade O1. Economic Development

completed Project

This paper studies the impact of the level and volatility of commodity terms of trade on economic growth. The authors find that while commodity terms of trade growth enhances real output per capita, volatility exerts a negative impact on economic growth, operating mainly through lower accumulation of physical capital. Moreover, such negative growth effects offset the positive impact of commodity booms; and export diversification of primary commodity- abundant countries contributes to faster growth.

Research Fellows

Kamiar Mohaddes

Senior Lecturer, Fellow, and Director of Studies in Economics, Girton College, University of Cambridge, UK


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