Commodities in crisis: the commodity crisis of the 1980s and the political economy of international commodity policies
Gespeichert in:
1. Verfasser: | |
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Format: | Buch |
Sprache: | English |
Veröffentlicht: |
Oxford
Clarendon Press
1992
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Schriftenreihe: | WIDER studies in development economics
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Schlagworte: | |
Online-Zugang: | Inhaltsverzeichnis |
Beschreibung: | XVIII, 307 S. graph. Darst. |
ISBN: | 0198283873 |
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adam_text |
COMMODITIES IN CRISIS
The Commodity Crisis of the 1980s and
the Political Economy of International
Commodity Policies
by
ALFRED MAIZELS
A study prepared for the World Institute for Development Economics
Research (WIDER) of the United Nations University
CLARENDON PRESS • OXFORD
CONTENTS
LIST OF FIGURES xii
LIST OF TABLES xiii
LIST OF ABBREVIATIONS xvii
INTRODUCTION 1
PART I THE COMMODITY CRISIS AND THE DEVELOPING
COUNTRIES 5
1 THE COMMODITY PRICE COLLAPSE OF THE 1980s 7
1 Commodities in the Development Process 7
2 Commodity Prices in the 1980s 9
3 The Causes of the Collapse in Non-Oil Commodity Prices 14
4 The Outlook for Commodity Prices 20
2 THE IMPACT ON THE DEVELOPING COUNTRIES 23
/ The Magnitude of the Foreign Exchange Loss 23
2 Imports, Investment, and Economic Retrogression 35
3 The Impact on Human Resources 38
3 RAISING DEPRESSED LEVELS OF COMMODITY EXPORT
EARNINGS 40
/ The Case for International Action 40
2 Supplementary Financing 43
3 Preferential Prices for Commodity Exports from Developing
Countries 47
4 Supply Management 49
4 INSTABILITY, STABILIZATION POLICY, AND ECONOMIC
DEVELOPMENT 61
1 The Effects of Export Instability 61
2 The Empirical Evidence 64
3 Economic Theory and Market Stabilization 71
5 COMMODITY MARKETS AND THE WORLD ECONOMY 85
/ The Commodity and the Industrial Sectors 85
2 The Commodity and the Financial Markets 89
3 Commodity Markets and World Economic Fluctuations 92
x Contents
PART H INTERNATIONAL COMMODITY POLICY 99
6 THE POST-WAR BACKGROUND 101
1 Early Post-war Developments and the Havana Charter 101
2 The Emergence of UNCTAD 105
7 THE INTEGRATED PROGRAMME FOR COMMODITIES
AND THE COMMON FUND 112
/ The Commodity-by-Commodity Approach 112
2 The Integrated Programme for Commodities (IPC) 114
3 The Struggle for a Common Fund 116
8 NEGOTIATIONS ON INDIVIDUAL COMMODITIES 125
1 The Dual Price Objective 125
2 Price-Raising and'Indexation' 126
3 The Post-War Stabilization Experience: Technical Limitations of
thelCAs 129
4 The Political Economy of International Commodity Negotiations 136
9 COMPENSATORY FINANCE 140
1 The Origin of Fluctuations in Commodity Export Earnings 140
2 Definition of an Export Earnings Shortfall 142
3 The Effects of Export Earnings Shortfalls on Economic
Development 145
4 International Compensatory Financing Policies 147
PART m LONGER-TERM ISSUES 157
10 THE STRUCTURE AND CONTROL OF INTERNATIONAL
COMMODITY MARKETS 159
1 The Main Enterprises and their Trading Channels 159
2 The Elements of Bargaining Power 165
3 Strategies of Host Countries and TNCs 173
4 International Negotiations Related to Commodity Market Structures 175
5 Policy Options for Developing Countries ' 178
11 TECHNOLOGICAL CHANGE AND THE CHALLENGE OF
SYNTHETICS 181
/ Technology and Commodity Markets 181
2 Dematerialization and Transmaterialization 182
3 Post-War Trends in Raw Materials Consumption 185
4 The Impact on Developing Countries 191
Contents xi
5 The Search for an Effective International Policy 191
Annexe: Decomposition of the Change in Consumption of Natural Raw
Materials 198
12 PROTECTIONIST BARRIERS TO COMMODITY TRADE 200
/ The Extent of Protection 200
2 Benefits and Costs of Agricultural Protection 208
3 National and International Policies Affecting Agriculture:
The Prospects for Liberalization 213
13 NEW TRADE DIRECTIONS: SOUTH-SOUTH AND
EAST-SOUTH 220
A South-South Trade 220
1 Recent Trends 220
2 Policy Responses of Developing Countries • 223
3 Policy Perspectives for the Future 226
B East-South Trade 232
14 DIVERSIFICATION 234
1 Diversification and Growth 234
2 Horizontal Diversification 236
3 Vertical Diversification 237
4 National Policies to Promote Diversification 241
5 The Role of International Policy 247
Annexe: The Coffee Diversification Fund 252
PART IV THE FUTURE OF INTERNATIONAL COMMODITY
POLICY 255
15 THE FUTURE OF INTERNATIONAL COMMODITY POLICY 257
; The Need for a New Policy Focus 257
2 The Elements of a Possible Minimum North-South Programme 261
3 Measures by Developing Countries to Strengthen the Commodity
Sector 264
4 The Crucial Role of Finance 271
APPENDIX: TERMS OF TRADE GAINS AND LOSSES ON
COMMODITY EXPORTS FROM DEVELOPING COUNTRIES 273
REFERENCES 283
INDEX 297
LIST OF FIGURES
1 1 The commodity terms of trade, 1970-88 11
1 2 The commodity price recessions of the 1930s and 1980s 12
2 1 Gains and losses of developing countries attributable to changes
in the commodity terms of trade, 1970-88 27
2 2 Volume, prices, and terms of trade of commodity exports in the
1930s and 1980s 28
2 3 Terms of trade losses on commodity exports of developing coun-
tries in the 1930s and 1980s 29
3 1 Sugar exports from developing countries to the free market and
through preferential channels, 1980-7 49
4 1 Commodity prices and terms of trade of commodity-dependent
countries, 1970-80 76
9 1 Drawings and repayments of developing countries with the IMF
Compensatory Financing Facility, 1980-7 148
10 1 Hypothetical relationship between bargaining power and the
division of the benefits of trade 167
10 2 The elements of bargaining power between TNCs and govern-
ments and enterprises of developing countries 169
LIST OF TABLES
TEXT TABLES
1 1 Trends in the commodity terms of trade, 1958-60 to 1986-8 10
1 2 Trends and instability of prices of main commodity groups,
1962-87 13
1 3 Contributions to commodity price change, 1980-6 20
2 1 Commodity exports of developing countries, 1970, 1980, and
2 2 Changes in volume, terms of trade, and purchasing power of com-
modity exports of developing countries, 1970-88 26
2 3 Terms of trade effects in the balance of payments of commodity-
dependent countries, 1980-8 31
2 4 Terms of trade loss during 1980-8 as percentage of GDP in 1980
for commodity-dependent countries 33
2 5 Indices of trade volumes, terms of trade, and purchasing power
of exports of commodity-dependent countries, 1980 to 1985 and
2 6 Imports, investment, and GDP of groups of developing coun-
tries, 1965-88 37
2 7 GDP growth rates of commodity-dependent countries, 1960-88 38
3 1 Sugar exports from developing countries to the free market and
to preferential markets, 1980 and 1987 48
8 1 Objectives and instruments of selected International Commodity
Agreements 130
8 2 Commodity agreement price ranges in relation to amplitude of
market price cycles, late 1970s to mid-1980s 135
9 1 Relationship between export instability indices of unit value
(Iuv), volume (Iv,,,), and value (Iva,), for individual countries and
selected commodities, 1962-81 141
10 1 The principal channels of trade in commodities exported by
developing to developed countries 160
10 2 Estimated shares of commodity trade controlled by largest TNCs,
11 1 Peak years in life cycles of selected minerals and metals 185
xiv List of Tables
11 2 Consumption of the major industrial raw materials in developed
market-economy countries, 1963-5 to 1984-6 186
11 3 Materials consumption per unit of industrial production in
developed market-economy countries, 1963-5 to 1984-6 187
11 4 Major influences on the growth of consumption of natural raw
materials in developed market-economy countries, 1963-5 to
1984-6 189
11 5 Consumption and trade in industrial raw materials, 1971-3 to
1984-6 192
12 1 Frequency of application of various non-tariff barriers to imports
of agricultural products into industrial countries, 1984 202
12 2 Net producer subsidy equivalents in the agricultural sector of
OECD countries, 1979-85 and 1986-9 203
12 3 Escalation of trade barriers in industrial countries by stage of
processing 205
12 4 Tariff rate averages for selected processing chains in developing
countries, 1981 206
12 5 Total transfers associated with agricultural policies in OECD
countries, 1986-9 209
12 6 Estimated change in world prices of agricultural products under
alternative liberalization policies 212
12 7 Estimated net foreign exchange and welfare impact on developing
countries of alternative policies for liberalization of agricultural
trade: regional summary 217
13 1 Exports from developing countries by broad destination and pro-
duct group, 1970-80 and 1980-8 221
13 2 Intra-trade of sub-regional groupings of developing countries,
1970, 1980, and 1988 223
13 3 Trade of developing countries in selected commodities, 1980 and
13 4 The effects of alternative GSTP tariff preferences on developing-
country trade 229
14 1 Export diversification, export growth, and GDP growth of
selected commodity-exporting countries, 1964-81 235
14 2 Selected developing countries heavily dependent on exports of
'problem' commodities, 1970, 1980, and 1985 238
14 3 Imports of primary and processed forms of selected commodities
by developed market-economy countries from developing coun-
tries, 1965, 1975, and 1985 240
List of Tables xv
14 4 Possible national policies to reduce export instability or to
improve the trend of export prices and export earnings 242
14 5 Commitments by major international financial institutions for
export-oriented diversification in the commodity sector, 1980-9 251
APPENDIX TABLES
A I Exports and terms of trade of the present developing countries,
1929-38 275
A 2 Effect of changes in the commodity terms of trade of developing
countries, 1970-88 277
A 3 Unit value and volume of commodity exports of developing coun-
tries by region, 1980-8 278
A 4 Value of commodity exports of developing countries, 1980-8 279
A 5 Commodity terms of trade effects by region, 1980-8 279
A 6 Sugar exports from developing countries to the free market and
to preferential markets, 1980-7 280
A 7 Terms of trade, volume, and purchasing power of sugar exports
from developing countries, 1980-7 281 |
any_adam_object | 1 |
author | Maizels, Alfred 1917-2006 |
author_GND | (DE-588)119192551 |
author_facet | Maizels, Alfred 1917-2006 |
author_role | aut |
author_sort | Maizels, Alfred 1917-2006 |
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building | Verbundindex |
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dewey-full | 338.5/09172/4 338.5/09172/420 |
dewey-hundreds | 300 - Social sciences |
dewey-ones | 338 - Production |
dewey-raw | 338.5/09172/4 338.5/09172/4 20 |
dewey-search | 338.5/09172/4 338.5/09172/4 20 |
dewey-sort | 3338.5 49172 14 |
dewey-tens | 330 - Economics |
discipline | Wirtschaftswissenschaften |
era | Geschichte 1980-1992 gnd Geschichte 1980-1990 gnd |
era_facet | Geschichte 1980-1992 Geschichte 1980-1990 |
format | Book |
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geographic | Pays en voie de développement - Conditions économiques Developing countries -- Economic conditions Entwicklungsländer (DE-588)4014954-7 gnd |
geographic_facet | Pays en voie de développement - Conditions économiques Developing countries -- Economic conditions Entwicklungsländer |
id | DE-604.BV005454466 |
illustrated | Illustrated |
indexdate | 2024-09-23T22:15:13Z |
institution | BVB |
isbn | 0198283873 |
language | English |
oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-003412498 |
oclc_num | 24173451 |
open_access_boolean | |
owner | DE-12 DE-703 DE-19 DE-BY-UBM DE-521 DE-83 DE-11 DE-188 |
owner_facet | DE-12 DE-703 DE-19 DE-BY-UBM DE-521 DE-83 DE-11 DE-188 |
physical | XVIII, 307 S. graph. Darst. |
publishDate | 1992 |
publishDateSearch | 1992 |
publishDateSort | 1992 |
publisher | Clarendon Press |
record_format | marc |
series2 | WIDER studies in development economics |
spelling | Maizels, Alfred 1917-2006 Verfasser (DE-588)119192551 aut Commodities in crisis the commodity crisis of the 1980s and the political economy of international commodity policies by Alfred Maizels Oxford Clarendon Press 1992 XVIII, 307 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier WIDER studies in development economics Geschichte 1980-1992 gnd rswk-swf Geschichte 1980-1990 gnd rswk-swf COMMODITIES unbist COMMODITY AGREEMENTS unbist COMMODITY CONTROL unbist COMMODITY MARKETS unbist COMMODITY PRICES unbist DEVELOPING COUNTRIES unbist Economische crises gtt Goederen gtt Grondstoffen gtt Handel gtt INTERNATIONAL ECONOMIC RELATIONS unbist Internationale economische politiek gtt Prijzen (economie) gtt Prix - Pays en voie de développement Produits agricoles - Commerce - Pays en voie de développement Produits commerciaux - Réglementation Produits de base - Pays en voie de développement Relations économiques internationales Entwicklungsländer Weltwirtschaft Wirtschaft Prices -- Developing countries Produce trade -- Developing countries Primary commodities -- Developing countries Commodity control International economic relations Internationale Rohstoffpolitik (DE-588)4162054-9 gnd rswk-swf Rohstoffpreis (DE-588)4050428-1 gnd rswk-swf Rohstoffweltmarkt (DE-588)4050433-5 gnd rswk-swf Pays en voie de développement - Conditions économiques Developing countries -- Economic conditions Entwicklungsländer (DE-588)4014954-7 gnd rswk-swf Entwicklungsländer (DE-588)4014954-7 g Rohstoffpreis (DE-588)4050428-1 s Geschichte 1980-1992 z DE-604 Internationale Rohstoffpolitik (DE-588)4162054-9 s Geschichte 1980-1990 z DE-188 Rohstoffweltmarkt (DE-588)4050433-5 s HEBIS Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=003412498&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
spellingShingle | Maizels, Alfred 1917-2006 Commodities in crisis the commodity crisis of the 1980s and the political economy of international commodity policies COMMODITIES unbist COMMODITY AGREEMENTS unbist COMMODITY CONTROL unbist COMMODITY MARKETS unbist COMMODITY PRICES unbist DEVELOPING COUNTRIES unbist Economische crises gtt Goederen gtt Grondstoffen gtt Handel gtt INTERNATIONAL ECONOMIC RELATIONS unbist Internationale economische politiek gtt Prijzen (economie) gtt Prix - Pays en voie de développement Produits agricoles - Commerce - Pays en voie de développement Produits commerciaux - Réglementation Produits de base - Pays en voie de développement Relations économiques internationales Entwicklungsländer Weltwirtschaft Wirtschaft Prices -- Developing countries Produce trade -- Developing countries Primary commodities -- Developing countries Commodity control International economic relations Internationale Rohstoffpolitik (DE-588)4162054-9 gnd Rohstoffpreis (DE-588)4050428-1 gnd Rohstoffweltmarkt (DE-588)4050433-5 gnd |
subject_GND | (DE-588)4162054-9 (DE-588)4050428-1 (DE-588)4050433-5 (DE-588)4014954-7 |
title | Commodities in crisis the commodity crisis of the 1980s and the political economy of international commodity policies |
title_auth | Commodities in crisis the commodity crisis of the 1980s and the political economy of international commodity policies |
title_exact_search | Commodities in crisis the commodity crisis of the 1980s and the political economy of international commodity policies |
title_full | Commodities in crisis the commodity crisis of the 1980s and the political economy of international commodity policies by Alfred Maizels |
title_fullStr | Commodities in crisis the commodity crisis of the 1980s and the political economy of international commodity policies by Alfred Maizels |
title_full_unstemmed | Commodities in crisis the commodity crisis of the 1980s and the political economy of international commodity policies by Alfred Maizels |
title_short | Commodities in crisis |
title_sort | commodities in crisis the commodity crisis of the 1980s and the political economy of international commodity policies |
title_sub | the commodity crisis of the 1980s and the political economy of international commodity policies |
topic | COMMODITIES unbist COMMODITY AGREEMENTS unbist COMMODITY CONTROL unbist COMMODITY MARKETS unbist COMMODITY PRICES unbist DEVELOPING COUNTRIES unbist Economische crises gtt Goederen gtt Grondstoffen gtt Handel gtt INTERNATIONAL ECONOMIC RELATIONS unbist Internationale economische politiek gtt Prijzen (economie) gtt Prix - Pays en voie de développement Produits agricoles - Commerce - Pays en voie de développement Produits commerciaux - Réglementation Produits de base - Pays en voie de développement Relations économiques internationales Entwicklungsländer Weltwirtschaft Wirtschaft Prices -- Developing countries Produce trade -- Developing countries Primary commodities -- Developing countries Commodity control International economic relations Internationale Rohstoffpolitik (DE-588)4162054-9 gnd Rohstoffpreis (DE-588)4050428-1 gnd Rohstoffweltmarkt (DE-588)4050433-5 gnd |
topic_facet | COMMODITIES COMMODITY AGREEMENTS COMMODITY CONTROL COMMODITY MARKETS COMMODITY PRICES DEVELOPING COUNTRIES Economische crises Goederen Grondstoffen Handel INTERNATIONAL ECONOMIC RELATIONS Internationale economische politiek Prijzen (economie) Prix - Pays en voie de développement Produits agricoles - Commerce - Pays en voie de développement Produits commerciaux - Réglementation Produits de base - Pays en voie de développement Relations économiques internationales Entwicklungsländer Weltwirtschaft Wirtschaft Prices -- Developing countries Produce trade -- Developing countries Primary commodities -- Developing countries Commodity control International economic relations Internationale Rohstoffpolitik Rohstoffpreis Rohstoffweltmarkt Pays en voie de développement - Conditions économiques Developing countries -- Economic conditions |
url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=003412498&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
work_keys_str_mv | AT maizelsalfred commoditiesincrisisthecommoditycrisisofthe1980sandthepoliticaleconomyofinternationalcommoditypolicies |