Computable general equilibrium models are used to study the short-run impact of fluctuating primary commodity prices on the economies of Colombia, Ivory Coast and Kenya. The results indicate that these economies are destabilized by primary commodity price fluctuations unless governments act to...

The large OPEC-engineered real world oil price increases of the early and late 1970?s have set in train, via a highly integrated international trade and finance system, significant resource transfers from energy-poor to energy-rich countries. In accommodating these resource transfers both energy...

A number of recent studies have shown that the short term level of economic activity and employment in primary commodity exporting countries is particularly vulnerable to price fluctuations in world commodity markets. The authorities in such countries, in seeking to maintain output and...

The role of the futures markets in stabilising spot prices has been widely discussed. However, the success of these markets in performing the stabilising function critically depends on whether they are efficient (Fama 181, page 383) in the sense that the futures prices fully reflect the...

Three causality tests, Haugh, Granger and Sims are used to determine the nature of causal relationship between the components of monetary base of India, Malaysia, Mexico and Taiwan. The conclusion derived is that bidirectional causality exists between the changes in domestic credit and changes...

This paper employs country specific multisectoral general equilibrium models of Turkey, Kenya and India to study the adjustment problems confronting these countries. The affects of liberal and interventionist policies on GDP and on incomes of different classes are analysed. The results show that...

This paper presents estimates of India's unofficial economy on a yearly basis for the period 1967 to 1978. These estimates implicitly revise the GNP, per capita and other related statistics for this period. The technique employed has been recently used to determine the size of the unreported...

The vagaries of nature and of world grain markets, causing domestic food production and food import prices to fluctuate, are commonly considered the major external sources of food insecurity in developing countries. The need for steady domestic food production, and for stable world grain prices...

This paper analyses, using a comparative-static general equilibrium model built along neoclassical lines, a range of devaluation, monetary and wage policy mixes for the Chilean economy. By quantifying the short-run implications of each policy mix for key economic variables at the macroeconomic...