The Behavior of Non-Oil Commodity Prices

Occasional Papers, September 15, 1994

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The Behavior of Non-Oil Commodity Prices

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Bibliographic details

• Authors: Eduardo Borensztein, Peter Wickham, Mohsin S. Khan, Carmen Reinhart
• Published: September 15, 1994
• Series: Occasional Papers
• DOI: https://doi.org/10.5089/9781557754127.084

Summary and central conclusion

• The paper analyzes global commodity trends and concludes that "the marked decline in real commodity prices of the past decade should be regarded as largely permanent and irreversible."
• The authors argue that analysis of commodity prices should be extended to include the role of "the breakdown of major international commodity agreements."
• The paper also analyzes "how developments in the former Soviet Union have affected commodity supply conditions."

Major findings

• Decline in real commodity prices over the past decade characterized as "largely permanent and irreversible."
• Breakdown of major international commodity agreements is identified as a significant factor affecting commodity price behavior.
• Developments in the former Soviet Union have had measurable effects on commodity supply conditions.

Thematic scope and subjects

• Subject headings: Agricultural commodities, Commodities, Commodity price fluctuations, Commodity price shocks, Commodity prices, Export earnings, International trade, Prices
• Keywords (as provided): Africa, Agricultural commodities, Asia and Pacific, Caribbean, commodity, commodity grouping, Commodity price fluctuations, Commodity price shocks, Commodity prices, commodity-producing country, country grouping, developed market economies, drive commodity market, Eastern Europe, Export earnings, federal republic, market economies, OP, price shock, price volatility, production yearbook, Taiwan prov.