Commodity Prices and Growth

Domenico Ferraro, Pietro F. Peretto

Research output: Contribution to journalArticle

4 Scopus citations

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

ASJC Scopus subject areas

  • Economics and Econometrics

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