Commodity prices are characterized by boom and bust cycles. In this article, the impact of the commodity boom of the 2000s on Latin American and Caribbean economies is studied by analyzing four categories of commodity exports (agricultural raw materials, fuel, food, ore and minerals) as well as manufactured exports. Latin American and Caribbean economies had higher growth during the 2000s than ...

In an economy with commodity-pairwise trading posts and transaction costs, commodity money is endogenously determined in general equilibrium. Absent double coincidence of wants, the lowtransaction cost commodity (with the narrowest proportional bid/ask price spread) becomes the common medium of exchange. JEL Classification: C62, E40

Global climate anomalies affect world economies and primary commodity prices. One of the more pronounced climate anomalies is El Niño Southern Oscillation (ENSO). In this study I examine the relationship between ENSO and world commodity prices using monthly time series of the sea-surface temperature anomalies in the Nino 3.4 region, and real prices of thirty primary agricultural commodities. I ...

Commodity price shocks are an important type of external shock and are often cited as a problem for economic growth in sub-Saharan Africa. This paper quantifies the impact of agricultural commodity price shocks using a near vector autoregressive model. The novel aspect of this model is that we define an auxiliary variable that can potentially capture the definition of a price shock that allows ...

Since some raw materials, semi manufactured, intermediate and capital goods in agricultural sector are imported, the exchange rate fluctuations can affect the cost price of products in this sector. Recently, we are facing considerable fluctuations in exchange rate that has an important impact on all sectors including the agriculture. As a result of an increase in import prices in agricultural r...

1Respectively, Senior Research Specialist and Associate Professor, Department of Agricultural Economics and Agricultural Business, New Mexico State University. INTRODUCTION A certification mark is defined by the U.S. Patent and Trademark Office as any word, name, symbol, or device owned by one party and used by another party or parties to certify some aspect of the mark owner’s good or service....