000			02431cam a2200301 i 4500
001			a669311
008			171030s2017 mr s 000 0 eng d
009			669311
040			_aFRAS _bfre _cFRAS _dFRAS _eAFNOR
072			_aSHS
082	0	4	_a338.521 _223E
084			_a338.5
095			_amr
100	1		_aJégourel, Yves _eAuteur _4070 _9107432
245	1	0	_aTrends and cyclicality of commodity prices, part 1 _h[Ressource électronique] : _bdebating the Prebisch-Singer hypothesis / _cYves Jégourel
300			_a9 p.
500			_aPolicy Brief - September 2017, PB-17/32
504			_aBibliogr. p. 8
520			_aDealing with the dynamics of commodity prices requires the characterization of three phenomena to which they are subject: (very) long-term trends, medium / long-term cycles and short-term variability / volatility (Jacks, 2013). As they strongly infuence the economies of exporting countries, each of these phenomena calls for the implementation of specifc strategies, particularly in terms of public policies. Thus, whereas volatility raises the question of availability of hedging tools and fnancial techniques for their effective use, commodity prices cyclicality calls for the defnition of stabilization policies aimed, in particular, at ensuring the continuity of fscal policy. The question of long-term trends followed by commodities, taken separately or as a whole, is probably even more fundamental. Largely referring to the Prebisch-Singer hypothesis formulated in the 1950s, it raises the question of the relevance of sectoral specialization in commodities and, consequently, queries possible means to diversify the economies of commodity producing countries. Noting the importance of the scientifc work conducted on this hypothesis, this policy brief frst recalls its theoretical and ideological foundations and subsequently briefy highlights the conclusions of the main empirical work related to it. Lastly, we identify the questions these works raise and propose some lines of research, which, we hope, will make a useful contribution to the public debate on the specialization of commodity exporting economies
856			_uhttp://www.fondation.org.ma/dsp/index/a669311-17
930			_a669311
931			_aa669311
990			_aamiri
035			_a1201749731
096			_a330
260			_aRabat : _bPublications of The Policy Center for the New South, _c2017 _6428425
951			_aCM
999			_c614791 _d614791