Commodity Terms of Trade: A New Database

From #Hashtags to Legislation: Engagement and Support for Economic Reforms in the Gulf Cooperation Council Countries

“…10 A commodity price shock of a country at time 𝑡𝑡 is constructed by Gruss and Kebhaj (2019), as follows Δ log(𝐶𝐶𝑅𝑅𝑅𝑅𝐶𝐶𝐼𝐼…”

Currency crises in emerging countries: The commodity factor

“…4 Data on commodity exports are from UNCOMTRADE while data on total exports are retrieved from the World Bank. For further details about the construction of our measure of commodity dependence and other complementary measures, see Gruss and Kebhaj (2019), UNCTAD (2019) and Carpantier (2020).…”

“…We provide country specific evidence in Figures 2 to 5, putting the focus on the sub-sample of Cdty countries where the share of the commodity exports in the total exports exceeds 50%. In these Figures, episodes of currency crises between 1970 and 2018 are plotted for each country, together with the evolution of a country specific commodity price index (based on the xm ra proxy of Gruss and Kebhaj (2019), as explained below in the empirical section). One can observe that, in many cases, currency crises are preceded by periods of declining commodity prices.…”

“…Regarding the commodity price index used in the regression, y i,t , we use the data constructed by Gruss and Kebhaj (2019). Their commodity prices are countryspecific.…”

Trade shocks and labour market resilience in Sub-Saharan Africa: Does the franc zone response differently?

“…Broad money is introduced in the model in accordance with the study ofAsaleye et al, (2018) with an expected positive sign.Institutional quality is used followingChaudhuri and Biswas (2016) and equallyEzcurra and Rios (2020). A positive sign is expected on this variable.The data for the studies are obtained from the WGI database 2019 for the institutional variable and is measured as the average of the six governance indices of Kaufmann (2010); REER is from the CEPII database 2019; CTOT is collected from the IMF database 2019 which is the indicator of CTOT developed byGruss et al (2019); the rest of the variables are from the WDI database 2019 and WGI database 2019.1 The data runs from 1996-2017 covering 25 SSA countries (see appendix 2). Table1shows the unit root results for these variables.…”