Article

Should Bangladesh participate in an international buffer stocking arrangement for raw jute ( trade policy)?

January 1978
The Bangladesh Development Studies 6(1):71-90

Authors:

Brunel University London

Examines the case for Bangladesh being party to such an international buffer. The need is established on the basis of 2 results. It has been found that magnitude of price and export value fluctuations are quite severe. Supply fluctuations mainly have caused price and value flucuations. Although a buffer stock has important implications for long term viability of raw jute as a source of foreign exchange earning, it is basically a short term measure. Implementation of additional measures, involving both domestic policies and cooperation from importing countries in respect of removal of trade barriers, has to be ensured for keeping raw jute alive as a source of foreign exchange earnings for some time. -Author

Market developments for jute fibre and jute goods

Article

Feb 1984

ResearchGate has not been able to resolve any references for this publication.

Article

Optimal resource extraction under stochastic terms of trade

January 1970

Axel Behrens

This paper examines the case where a small open economy owns a stock of exhaustible resources like Chromium, Copper etc. which are not consumed domestically but exported. The resource earnings are used to import consumption goods. We will discuss the optimal production of this resource, when the terms of trade (faced by the country) follows an exogenous given time path that is subject to some ... [Show full abstract] stochastic fluctuations. It will come about that uncertainty concerning future values of the terms of trade affects the extraction dynamics for the following reasons. First, if the functions involved in the first-order conditions are nonlinear, the expected future value of these functions differs from a world of certainty. Consequently uncertainty has an impact on the behaviour of resource-exporting- countries. Note that this change in behaviour cannot be captured with certaintyequivalence. Second, if the costs of extraction exceed the gain from the resource use for some time due to stochastic fluctuations, the country can keep the resource in the ground but maintain the option of future extraction when depletion will become profitable again. So uncertainty creates an incentive to slow down production.

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Market Interventions, International Price Stabilization, and Welfare Implications

May 1992 · American Journal of Agricultural Economics

Stephen Devadoss

The welfare effects of price stabilization are quantified under free trade and under distortionary policies when an exporting country protects domestic producers with price supports, an importing country pursues a price-fixing policy, and a second importing country follows a free trade policy. Results show that distortionary interventions cause greater world price variability. World gains from ... [Show full abstract] international price stabilization through a costless buffer stock scheme are higher under distortionary trade than under free trade.

Article

New challenges in the cassava transformation in Nigeria and Ghana:

January 2004

Felix Nweke

Ghana's exports on a per capita basis failed to grow over the course of the twentieth century. The reasons for this outcome are examined in this paper. It is argued that the success which characterised the period before independence was due to the combination of an open trade policy and flexible factor markets. The reversal of such policies at the time of independence was the source of the ... [Show full abstract] subsequent decline. While the terms of trade for Ghana's exports have fluctuated substantially there has been little change in their level over the century. Economic failure since independence has been due to domestic policies limiting export growth. The reforms of the post 1983 period have succeeded in preventing further decline; they have failed to provide a policy environment in which rapid growth of exports can occur. The nature of this policy failure is discussed. Copyright Blackwell Publishers Ltd 2002.

Article

Full-text available

A Stochastic simulation analysis of the effects of Indian wheat production instability on the world...

February 1997 · Journal of Policy Modeling

Adverse weather factors in India augment the instability in wheat supply and trade. Consequently, India's wheat trade is a classic example of stochastic supply being the dominant factor in determining trade flows. This study analyzes the effects of random fluctuations in India's wheat supply on domestic and world price variability and trade flows of India and major exporters and importers by ... [Show full abstract] using stochastic simulation analysis. Trade mitigates price variability and, thus, acts as a buffer stock program in reducing price variability. The results show that production shortfalls (surpluses) in India benefit wheat exporters (importers) and hurt importers (exporters).

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Trade and Linkages Using Input-Output Approach: An Empirical Investigation of Bangladesh

February 1994 · The Pakistan Development Review

Employing a variant of the open-static Leontief model and a 53-sector input-output table, the paper identifies a variant of the key sectors in the Bangladesh economy in terms of trade linkages. The concepts of gross and net linkages are introduced and the analysis is extended to both current (flow) and capital (stock) accounts. On the gross linkage criterion, only a handful of sectors emerge as ... [Show full abstract] key sectors with three or more linkages. These sectors are from within the manufacturing and services categories. This is also the case with sectors having two strong linkages. Agricultural sectors do not feature at all. A transition from gross to net linkages changes the rankings quite significantly. Most agricultural sectors show two strong linkages in the flow account. The findings suggest that Bangladeshi export sector, is typically undiversified in that it relies heavily on agriculture and related industries, with jute and jute textiles accounting for over 70 percent of net export earnings. Not surprisingly, most sectors in the industrial complex are net importers and the domestic production of industrial goods is highly import-intensive.

Article

COPPER PRICE STABILIZATION: WELFARE CONSEQUENCES AND BUFFER STOCK COSTS

July 1980 · Natural Resources Forum

International debate and economic literature on export earnings from trade in raw materials have focused on two main subjects: the ability to increase incomes arising from the exports and the possibility of stabilizing these incomes. One alternative that has been suggested and discussed with regard to the second issue is a buffer stock that would decrease the fluctuations in raw material prices. ... [Show full abstract] Two objections that have been made to this proposal are that, with stabilization, producers could lose their welfare benefits; and that financial costs are too great. In this article, market conditions required so that copper producers may be benefited by price stability are discussed, and the profitability of a copper buffer stock is measured. Depending on the characteristics of demand and supply curves in the copper market, the article concludes that producers may obtain welfare and income benefits from price stabilization and that for certain degrees of stability the management of the copper buffer stock can yield a positive internal rate of return close to that of alternative investments. Des discussions au niveau international et des ouvrages économiques en matière de recettes d'exportation provenant du commerce des matiêres premières ont mis l'accent sur deux sujets principaux: la capacité d'accroître les revenue de ces exportations et la possibilité de stabiliser ces revenue. Une option, suggérée et débattue au sujet du second point, consiste en l'établissement d'un stock régulateur qui tendrait à diminuer les fluctuations des prix des matiêres premières. Cependant, deux objections ont été soulevées, à savoir: la stabilisation pourrait avoir des repercussions néfastes sur les bénéfices des producteurs et les coûts financiers pourraient être trap élevés. L'article considère les conditions de marché requises pour permettre aux producteurs de cuivre de bénéficier de la stabilité des prix ainsi que la rentabilité d'un stock régulateur en matière de cuivre. En se basant sur les caractéristiques des courbes de l'offre et de la demande dans le marché du cuivre, l'article conclut que les producteurs peuvent bénéficier de la stabilisation des prix et que, à certains degrés de stabilité, la gestion d'un stock régulateur de cuivre peut engendrer un taux de rendement interne positif avoisinant ceux d'autres investissements. Los debates internacionales y la literature sobre los ingresos de exportatión de materias primas han enfocado dos temas principals: la habilidad de aumentar el ingreso resultante de estas exportaciones y la posibilidad de estabilizar dichos ingresos. La creación de una reserva de compensación para contrarrestar las fluctuaciones de los precios de materias primas ha sido propuesto y discutido. Las objeciones hechas a esta propuesta argumentan que los beneficios para los productores disminuiría con la estabilización y que los costos financieros serian demasiado grandes. En este artículo se discuten las condiciones de mercado que permitirían a los productores de cobre beneficiarse de la estabilidad de precios y se mide también la rentabilidad de la reserva de compensación para el cobre. Basándose en las características de las curvas de demanda y oferta en el mercado del cobre, el artículo concluye que los productores pueden salir gananciosos con la estabilización de precios y que para ciertos grados de estabilidad, la administración de la reserva de compensación del cobre puede producir una tasa interna de retorno positive, comparable a otras inversiones alternatives.

Article

Measuring the costs of African animal trypanosomosis, the potential benefits of control and returns...

January 1999 · Agricultural Systems

Ghana's exports on a per capita basis failed to grow over the course of the twentieth century. The reasons for this outcome are examined in this paper. It is argued that the success which characterised the period before independence was due to the combination of an open trade policy and flexible factor markets. The reversal of such policies at the time of independence was the source of the ... [Show full abstract] subsequent decline. While the terms of trade for Ghana's exports have fluctuated substantially there has been little change in their level over the century. Economic failure since independence has been due to domestic policies limiting export growth. The reforms of the post 1983 period have succeeded in preventing further decline; they have failed to provide a policy environment in which rapid growth of exports can occur. The nature of this policy failure is discussed. Copyright Blackwell Publishers Ltd 2002.

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Full-text available

Options for Export Diversification and Faster Export Growth in Ghana

January 2007

Ghana's exports on a per capita basis failed to grow over the course of the twentieth century. The reasons for this outcome are examined in this paper. It is argued that the success which characterised the period before independence was due to the combination of an open trade policy and flexible factor markets. The reversal of such policies at the time of independence was the source of the ... [Show full abstract] subsequent decline. While the terms of trade for Ghana's exports have fluctuated substantially there has been little change in their level over the century. Economic failure since independence has been due to domestic policies limiting export growth. The reforms of the post 1983 period have succeeded in preventing further decline; they have failed to provide a policy environment in which rapid growth of exports can occur. The nature of this policy failure is discussed. Copyright Blackwell Publishers Ltd 2002.

Article

Food Price and Supply Stabilization: National Buffer Stocks and Trade Policies

November 1979 · American Journal of Agricultural Economics

Trade policies are likely to have a greater impact on the stability of a country's food grain supply than any reasonable size buffer stock. At the margin, countries need to trade off the cost of additional stocks against the cost of unstable foreign exchange balances associated with free trade. A stochastic simulation model is specified to assess the impact of trade and buffer stock policies on ... [Show full abstract] the stability of consumption and prices and the expected values and standard deviations of costs and gains to consumers, producers, and the government, and the balance of payments.

Article

Export Growth and Trade Policy in Ghana in the Twentieth Century

September 2002 · World Economy

Francis Teal

Ghana's exports on a per capita basis failed to grow over the course of the twentieth century. The reasons for this outcome are examined in this paper. It is argued that the success which characterised the period before independence was due to the combination of an open trade policy and flexible factor markets. The reversal of such policies at the time of independence was the source of the ... [Show full abstract] subsequent decline. While the terms of trade for Ghana's exports have fluctuated substantially there has been little change in their level over the century. Economic failure since independence has been due to domestic policies limiting export growth. The reforms of the post 1983 period have succeeded in preventing further decline; they have failed to provide a policy environment in which rapid growth of exports can occur. The nature of this policy failure is discussed. Copyright Blackwell Publishers Ltd 2002.

Article

Short Run Static Price and Income Effects of Cocoa Control

April 1970 · The Journal of Development Studies

C. P. Brown

Using conventional assumptions of price control by buffer devices, several aspects of control of trade in cocoa by buffer funds, buffer stocks and export quotas are explored with the provisions of the Draft International Cocoa Agreement in mind. Analysis of revenue and price effects of these devices is facilitated by drawing on literature concerning cocoa market parameters.Expanding the short‐run ... [Show full abstract] diagrammatic analysis of buffer funds by Snape and Yamey, possible revenue effects under optimum marketing‐board farmer prices are shown when (a) the farmer price is held constant for two years and shifts in demand and supply are experienced and (b) farmer price is allowed to fluctuate from one year to the next according to optimum considerations (under constraints regarding the maximum and minimum farmer price). Surpluses and export proceeds are shown to increase with a farmer price (net of transportation costs) equal to or lower than the world price. Control, however, may destabilize export proceeds and world price.Use of proposed buffer stock and export quota devices in a market already controlled by buffer funds is shown, under conditions specified, to have uncertain effects on export proceeds. Buffer funds may reduce and destabilize producer country proceeds while export quotas have the opposite effect. A buffer stock in a market already controlled by a buffer fund interested in maximizing short‐run export proceeds may not, with cocoa market parameters hypothesized, be an improvement over the buffer fund during years for which the ceiling price is to be supported.

Article

Full-text available

Animal Health and the Role of Communities: An Example of Trypanasomosis Control Options in Uganda

January 2003

Ghana's exports on a per capita basis failed to grow over the course of the twentieth century. The reasons for this outcome are examined in this paper. It is argued that the success which characterised the period before independence was due to the combination of an open trade policy and flexible factor markets. The reversal of such policies at the time of independence was the source of the ... [Show full abstract] subsequent decline. While the terms of trade for Ghana's exports have fluctuated substantially there has been little change in their level over the century. Economic failure since independence has been due to domestic policies limiting export growth. The reforms of the post 1983 period have succeeded in preventing further decline; they have failed to provide a policy environment in which rapid growth of exports can occur. The nature of this policy failure is discussed. Copyright Blackwell Publishers Ltd 2002.

Last Updated: 22 Oct 2024