Trade Shocks in Developing Countries: Volume I: Africa

Hardcover | August 12, 1999

byPaul Collier, Jan GunningEditorAssociates

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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 beenthat 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 lowsavings 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 areoften 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.

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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 beenthat private agents, in particular peasant ...

Paul Collier is a Director of the Centre for the Study of African Economics, University of Oxford; and Fellow at St Anthony's College, Oxford. Jan Gunning is a Professor of Economics at the Free University, Amsterdam.

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Format:HardcoverDimensions:502 pages, 9.21 × 6.14 × 1.22 inPublished:August 12, 1999Publisher:Oxford University Press

The following ISBNs are associated with this title:

ISBN - 10:0198293380

ISBN - 13:9780198293385

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Table of Contents

1. Paul Collier and Jan Willem Gunning: Trade Shocks: Theory and Evidence2. David Bevan, Paul Collier, and Jan Willem Gunning: Anatomy of a Temporary Trade Shock: the Kenyan Coffee Boom, 1976-793. Deborah Wetzel: Ghana's Management of a Temporary Windfall: The Cocoa Boom of 1976-774. Hafez Ghanem: The Ivorian Cocoa and Coffee Boom of 1976-79: The End of a Miracle?5. Jane Harrigan: Malwi's Positive Trade Shock, 1977-796. David Greenaway and Roland Lamusse: Private and Public Sector Responses to the Sugar Boom in Mauritius, 1972-757. Jean-Paul Azam and Gerard Chambas: The Groundnut and Phosphates Boom in Sengal, 1974-778. Janine Aron: The Zambia Coffee Boom and Crash, 1964-809. Catherine Hill and John Knight: The Diamond Boom, Expectations, and Economic Management in Botswana10. Jean-Paul Azam: The Uranium Boom in Niger, 1975-8211. Shanta Devarajan: Cameroon12. T. Ademola Oyejide: Trade Shock, Oil Boom, and the Nigerian Economy, 1973-8313. Nemat Shafik: Multiple Trade Shocks and Partial Liberalization: Dutch Disease and the Egyptian Economy