COMMODITY PRICE SWINGS AND COMMODITY EXPORTERS A SUMMARY OF THE CHAPTER 4 OF THE IMF WORLD ECONOMIC OUTLOOK, APRIL 2012

摘要

This article analyzes the impact of long-term and temporary commodity price swings on commodity exporters' macroeconomic performance.2 It also examines how a country's choice of fiscal policy can help mitigate the negative impacts of commodity price declines and maximize the positive impacts of price increases. Four groups of commodities are discussed: energy, metals, food and raw materials. Within each group, one major commodity is studied: crude oil, copper, coffee and cotton. The period under review is 1970-2011.