Managing commodity booms: lessons of international experience.
Africa's exports have always been concentrated in primary commodities and recently, due to high prices and new discoveries, the importance of these exports has substantially increased. A distinctive characteristic of these commodities is that their world prices are volatile, with wide and unpredictable fluctuations. Evidently, these fluctuations have corresponding effects on export revenues. The price movements are not symmetrical hills and valleys. They are typically generated by shocks in s...Expand abstract
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