
Trade Shocks in Developing Countries: Volume I: Africa
Volume 1: Africa
Oxford University Press
Published on 18. November 1999
Book
Hardback
502 pages
978-0-19-829338-5 (ISBN)
Description
Developing countries frequently experience trade shocks and the policy implications of this have been debated for decades.This important book is Volume 1 of a comparative study covering 23 countries, using a common methodology to estimate the effects of shocks. The conventional wisdom has been that private agents, in particular peasant farmers, could not be trusted to use windfalls wisely. This was, and continues to be, the main rationale for stabilising taxation of export crops. The convention was also that windfalls accruing to the public sector were a bane since governments had low savings rates. The evidence in this definitive study supports neither generalisation. Trade shocks typically lead to high savings rates, irrespective of whether they accrue to private producers or to the government. However, the case studies find substantial policy errors so that windfalls are often not translated efficiently into permanent income increases and indeed often lead to a reduction in output. The studies argue for a drastic revision of the case for government action in response to trade shocks.
Volume 1 deals with Africa, Volume 2 with Asia and Latin America.
Volume 1 deals with Africa, Volume 2 with Asia and Latin America.
Reviews / Votes
This is a work that should be read by those working on the macroeconomics of developing countries, whether as researchers or policy analysts * Journal of International Development * The absence of formality makes the book accessible to the non-specialist. However, this surface accessibility masks highly sophisticated reasoning and the application of complicated empirical accounting exercises * Journal of International Development *More details
Series
Language
English
Place of publication
Oxford
United Kingdom
Target group
Professional and scholarly
Illustrations
graphs and tables
Dimensions
Height: 240 mm
Width: 161 mm
Thickness: 31 mm
Weight
916 gr
ISBN-13
978-0-19-829338-5 (9780198293385)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Classification
Persons
Author
Director of the Centre for the Study of African Economics, University of Oxford; and FellowDirector of the Centre for the Study of African Economics, University of Oxford; and Fellow, St Anthony's College, Oxford
Professor of EconomicsProfessor of Economics, Free University, Amsterdam
Content
1. Trade Shocks: Theory and Evidence ; 2. Anatomy of a Temporary Trade Shock: the Kenyan Coffee Boom, 1976-79 ; 3. Ghana's Management of a Temporary Windfall: The Cocoa Boom of 1976-77 ; 4. The Ivorian Cocoa and Coffee Boom of 1976-79: The End of a Miracle? ; 5. Malwi's Positive Trade Shock, 1977-79 ; 6. Private and Public Sector Responses to the Sugar Boom in Mauritius, 1972-75 ; 7. The Groundnut and Phosphates Boom in Sengal, 1974-77 ; 8. The Zambia Coffee Boom and Crash, 1964-80 ; 9. The Diamond Boom, Expectations, and Economic Management in Botswana ; 10. The Uranium Boom in Niger, 1975-82 ; 11. Cameroon ; 12. Trade Shock, Oil Boom, and the Nigerian Economy, 1973-83 ; 13. Multiple Trade Shocks and Partial Liberalization: Dutch Disease and the Egyptian Economy