Commodity Price Volatility and Inclusive Growth in Low-Income Countries

Books, October 24, 2012

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Commodity Price Volatility and Inclusive Growth in Low-Income Countries

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Bibliographic details

• Authors: Rabah Arezki, Catherine A Pattillo, Marc G Quintyn, Min Zhu
• Published: October 24, 2012
• Series: Books
• DOI: https://doi.org/10.5089/9781616353797.071

Overview

• Title: Commodity Price Volatility and Inclusive Growth in Low-Income Countries
• Authors: Rabah Arezki, Catherine A Pattillo, Marc G Quintyn, Min Zhu
• Publication date: October 24, 2012
• Summary of scope:
  • Examines challenges of commodity price volatility for low-income countries.
  • Explores macroeconomic policy options for responding to commodity price shocks.
  • Analyzes inclusive growth policies to address inequality in commodity-exporting countries, particularly natural resource rich countries.
  • Presents perspectives from the Middle East and North Africa, sub-Saharan Africa, emerging Asia, and Mexico.
  • Examines the role of the international donor community.

Key findings and themes

• Post–global financial crisis context:
  • Many low-income countries experienced rapid recovery and strong economic growth in the years following the global financial crisis.
  • Many low-income countries later faced enormous difficulties because of rapidly rising food and fuel prices, with the threat of millions being pushed into poverty globally.
• Systemic risk and spillovers:
  • The risk of continued food price volatility is identified as a systemic challenge.
  • A failure in one country can have a profound impact on entire regions.
• Focus areas:
  • Commodity price volatility and macroeconomic management.
  • Inclusive growth and inequality in commodity-exporting, natural resource rich countries.
  • Regional perspectives and the role of international donors.

Policy options and recommendations (as presented)

• Macroeconomic policy options for responding to commodity price shocks (general exploration in volume).
• Inclusive growth policies targeted at reducing inequality in commodity-exporting countries.
• Consideration of the role of the international donor community in supporting vulnerable low-income countries.

Regional perspectives covered

• Middle East and North Africa (MENA)
• Sub-Saharan Africa
• Emerging Asia
• Mexico