Commodity diversification: a market model

Love, J. (1981) Commodity diversification: a market model. Journal of Development Studies, 18(1), pp. 94-103. (doi: 10.1080/00220388108421819)

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Commodity diversification has been adopted widely by developing countries as a policy measure to tackle the problem of export instability. Arguments about diversification have emphasised the role of external demand conditions and the need to export manufactures. The importance of random supply factors in determining earnings from primary products has been overlooked as a potential source of greater stability. A model of commodity earnings is developed which distinguishes between market‐related and producer‐specific components of instability. Application to the export structures of twenty‐eight primary exporters suggests that this approach represents a useful guide to policy‐makers.

Item Type:Articles
Glasgow Author(s) Enlighten ID:Love, Professor James
Authors: Love, J.
College/School:College of Social Sciences > Adam Smith Business School
Journal Name:Journal of Development Studies
ISSN (Online):1743-9140

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