Export instability, expansion and market concentration

Lam, Ngo Van

doi:10.1016/0304-3878(80)90030-9

Cited by 23 publications

(5 citation statements)

References 30 publications

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“…Hence we follow earlier papers (Feder, 1980 andLam, 1980) that estimated growth equations for LDCs and other developing countries using linear specifications of the growth models.…”

Section: Methodsmentioning

confidence: 99%

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Primary commodity export and economic growth in sub sahara africa: evidence from panel data analysis

Ocran

Biekpe

2011

SAJEMS

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The paper sought to examine the impact of instability in primary commodity export earnings and the level of commodity dependence on economic growth in Sub Saharan Africa (SSA). Fixed effects panel data estimator was used in the empirical estimation. The findings of the study suggest that there is a negative relationship between instability in export earnings and economic growth. The results also indicate that the level of commodity dependence matter in determining economic growth in the region. The results of the paper have economic development policy implications for SSA economies and these are not farfetched. First, it appears the difficult growth experience of SSA is not solely due to instability in export receipts. The question of continued dependence on a narrow range of primary commodities is also matter of great importance.

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“…Hence we follow earlier papers (Feder, 1980 andLam, 1980) that estimated growth equations for LDCs and other developing countries using linear specifications of the growth models.…”

Section: Methodsmentioning

confidence: 99%

“…It is further argued that as economies reduce consumption, savings and investment are increased with a resultant increase in economic growth. This approach implicitly assumes risk-aversion behaviour in the analytical framework (MacBean, 1966; Knudsen & Parnes, 1975;Lam, 1980 andSavvides, 1984).…”

Section: Review Of Previous Studiesmentioning

confidence: 99%

Primary commodity export and economic growth in sub sahara africa: evidence from panel data analysis

Ocran

Biekpe

2011

SAJEMS

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“…Export instability has a statistically significant and positive influence on LDCs' real GDP per capita growth in the short run (Savidos, 1984). On the other hand, a strong positive link between export instability and economic growth were discovered (Lam, 1980). According to (Savidos, 1984), government development plans are being affected by export earnings instability, and the reason behind that is the raising revenue are formed largely by export taxes to finance the plans from export taxes.…”

Section: Literature Reviewmentioning

confidence: 99%

Non-Linear Export Instability and Economic Growth: A case of Pakistan

Arshed¹,

Naushahi²,

Saeed³

2022

RISUS

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Exports are considered the driver of economic growth by making the balance of payments favourable through foreign exchange earnings. Export instability refers to the uncertainty about export earnings in the economy. These uncertainties bring a significant impact on the economic behaviour, investment ability and, in turn, hurt economic growth. The focus of the study is to probe the impact of export instability on economic growth in Pakistan. Design/methodology/approach: Time series data is used from 1980-2019. Non-linear ARDL technique is applied for short run and long run results. Findings: It concludes that economic growth in Pakistan is positively related to gross fixed capital formation and labour force, whereas it is negatively related to the consumer price index. While export instability follows an inverted U shape. Hence policymakers need to form a threshold within which the export instability is favourable. Originality/value: This study is instrumental in exploring the non linear effect of export instability on economic growth which is helpful in determining the upper and lower limit of export volume deviations beyond which growth may hamper

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“…In practice, various de-trending schemes are employed, sometimes leading to contradictory results. See, for example, Glezakos (1973), Knudsen and Parnes (1975), Lam (1980), or Cuddy and Della Valle (1978), or MacBean and Nguyen (1980). Further, adjusting the terms-oftrade for quality improvements further complicates generalizations.…”

Section: Characteristics Of Price and Income Volatilitymentioning

confidence: 99%

Commodity Risk Management and Development

Larson

1998

Policy Research Working Papers

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In 1995, 57 countries depended on three commodities programs that used market-based approaches for dealing for more than half their exports, reports UNCTAD. And with market uncertainty. commodities, fuels, grains, and oilseeds are important This change in approach coincided with a significant imports for several countries. The notorious volatility of rise in the use of market-based commodity risk commodity prices is a major source of instability and management instruments -aided by the liberalization of uncertainty in commodity-dependent countries, affecting markets, the lowering of trade and capital control governments, producers (farmers), traders, processors, barriers, and the globalization of commodity markets. and financial institutions. Further, commodity price By the mid-1990s, several governments, state instability has a negative impact on economic growth, companies, and private sector participants began using income distribution, and poverty alleviation.commodity derivatives markets to hedge their Early attempts to deal with commodity price volatility commodity price risks. Participation in those markets is relied on buffer stocks, buffer funds, government growing, but important barriers to access remain, intervention in commodity markets, and international including counterparty risk, problems small groups (such commodity agreements to stabilize prices. These were as farmers) have aggregating risks, basis risk (no largely unsuccessfulsometimes spectacularly so.correlation of local and international prices), no local Buffer funds went bankrupt, commodity agreements reference prices, low liquidity, no derivatives markets for were suspended, buffer stocks proved ineffective, and certain products, and low levels of knowhow. government intervention was both costly and ineffective.International institutions, local governments, and the As the poor performance of such stabilization schemes private sector could facilitate developing countries' became more evident, academics and policvmakers began access to derivatives markets and the use of risk distinguishing between programs that tried to alter price management tools to solve public sector problems. distribution (domestically or internationally) and This paper -a product of Rural Development, Development Research Groupwas prepared for the roundtable discussion on New Approaches to Commodity

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Export instability, expansion and market concentration

Cited by 23 publications

References 30 publications

Primary commodity export and economic growth in sub sahara africa: evidence from panel data analysis

Primary commodity export and economic growth in sub sahara africa: evidence from panel data analysis

Non-Linear Export Instability and Economic Growth: A case of Pakistan

Commodity Risk Management and Development

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