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Diversification and stabilization in a resource-exporting country

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  • Gerken, Egbert

Abstract

The costs and benefits of export diversification in an old non-oil commodity exporting country are the subject matter of the following analysis. In chapter 2 the causal nexus from commodity price fluctuations to domestic disturbances is developed from well-established macro- and microeconomic theory-. As both structural change and multiple distortions are central to the argument, the analysis is promising only in a quantitative multisectoral general equilibrium framework applied to some appropriate country. The case of copper-exporting Chile will be studied here. The country model is described in chapter 3 and documented in the appendix. The model experiments used for determining the costs and benefits are also designed in chapter 3. The results are presented and discussed in chapter 4 and conclusions are drawn in chapter 5.

Suggested Citation

  • Gerken, Egbert, 1983. "Diversification and stabilization in a resource-exporting country," Kiel Working Papers 178, Kiel Institute for the World Economy (IfW Kiel).
    • Handle: RePEc:zbw:ifwkwp:178
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    1. Behrman, Jere R, 1972. "Sectoral Elasticities of Substitution between Capital and Labor in a Developing Economy: Time Series Analysis in the Case of Postwar Chile," Econometrica, Econometric Society, vol. 40(2), pages 311-326, March.
    2. Tanzi, Vito & Blejer, Mario I., 1982. "Inflation, interest rate policy, and currency substitutions in developing economies: A discussion of some major issues," World Development, Elsevier, vol. 10(9), pages 781-789, September.
    3. Vittorio Corbo & Patricio Meller, 1979. "La sustitución de trabajo, capital humano y capital físico en la industria manufacturera chilena," Estudios de Economia, University of Chile, Department of Economics, vol. 6(2 Year 19), pages 15-44, December.
    4. Vincent, David P., 1983. "Exchange rates, monetary policy and wages: A case study of Chile," Kiel Working Papers 164, Kiel Institute for the World Economy (IfW Kiel).
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