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Policy towards Commodity Shocks in Developing Countries

Policy towards Commodity Shocks in Developing Countries »

Source: Policy towards Commodity Shocks in Developing Countries

Volume/Issue: 1996/84

Series: IMF Working Papers

Author(s): Jan Gunning , and Paul Collier

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1996

ISBN: 9781451850598

Keywords: taxation, central bank, inflation, public expenditure

On the basis of a comparative study of 23 episodes involving commodity price shocks we find that both the public and private sectors typically save around half of a windfall gain resulting from a price rise. We arg...