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The Effects of Collective Devaluation on Commodity Prices and Exports

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  • Michael Wattleworth

    (International Monetary Fund)

Abstract

Because measures to stimulate export production are often part of economic adjustment programs, the possible repercussions in particular commodity markets of collective actions by producers to encourage exports merit study. A simplified model is developed and used to simulate supply-side policies in the world market for a primary commodity to explore the policies' effects on prices, volumes, and export receipts over a decade. Although the potential for adverse effects exists, this finding is not an argument against devaluation, since the beneficial effects of such a policy in other areas might outweigh the short-run effect on major commodity exports.

Suggested Citation

  • Michael Wattleworth, 1988. "The Effects of Collective Devaluation on Commodity Prices and Exports," IMF Staff Papers, Palgrave Macmillan, vol. 35(1), pages 166-180, March.
    • Handle: RePEc:pal:imfstp:v:35:y:1988:i:1:p:166-180
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    Cited by:

    1. Dhanya V, 2008. "Liberalisation of Tropical Commodity Market and Adding-Up Problem: A Bound Test Approach," Working Papers id:1608, eSocialSciences.
    2. Lee, David R. & Markussen, Kristin A., 1997. "Structural Adjustment and Agricultural Export Response in Latin America," 1997 Occasional Paper Series No. 7 198200, International Association of Agricultural Economists.
    3. Walter C. Labys & Alfred Maizels, 1990. "Commodity Price Fluctuations and Macro-economic Adjustments in the Developed Countries," WIDER Working Paper Series wp-1990-088, World Institute for Development Economic Research (UNU-WIDER).
    4. Markussen, Kristin A. & Lee, David R., 1994. "Structural Adjustment And Agricultural Export Response In Latin America," Working Papers 7268, Cornell University, Department of Applied Economics and Management.
    5. V. Dhanya, 2008. "Liberalisation of tropical commodity market and adding-up problem: A Bound test approach," Centre for Development Studies, Trivendrum Working Papers 399, Centre for Development Studies, Trivendrum, India.

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