Commodity Prices and Growth

Domenico Ferraro, Pietro F. Peretto

Research output: Contribution to journalArticle

2 Citations (Scopus)

Abstract

In this article, we propose an endogenous growth model of commodity-rich economies in which: (i) long-run (steady-state) growth is endogenous and yet independent of commodity prices; (ii) commodity prices affect short-run growth through transitional dynamics; and (iii) the status of net commodity importer/exporter is endogenous. We argue that these predictions are consistent with historical evidence from the 19th to the 21st century.

Original languageEnglish (US)
Pages (from-to)3242-3265
Number of pages24
JournalEconomic Journal
Volume128
Issue number616
DOIs
StatePublished - Dec 1 2018

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Commodities
Commodity prices
Endogenous growth model
Prediction
Importer
Exporters
Short-run
Transitional dynamics

ASJC Scopus subject areas

  • Economics and Econometrics

Cite this

Commodity Prices and Growth. / Ferraro, Domenico; Peretto, Pietro F.

In: Economic Journal, Vol. 128, No. 616, 01.12.2018, p. 3242-3265.

Research output: Contribution to journalArticle

Ferraro, D & Peretto, PF 2018, 'Commodity Prices and Growth', Economic Journal, vol. 128, no. 616, pp. 3242-3265. https://doi.org/10.1111/ecoj.12559
Ferraro, Domenico ; Peretto, Pietro F. / Commodity Prices and Growth. In: Economic Journal. 2018 ; Vol. 128, No. 616. pp. 3242-3265.
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