Commodity Prices and Growth

Journal Article (Journal Article)

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.

Full Text

Duke Authors

Cited Authors

  • Ferraro, D; Peretto, PF

Published Date

  • December 1, 2018

Published In

Volume / Issue

  • 128 / 616

Start / End Page

  • 3242 - 3265

Electronic International Standard Serial Number (EISSN)

  • 1468-0297

International Standard Serial Number (ISSN)

  • 0013-0133

Digital Object Identifier (DOI)

  • 10.1111/ecoj.12559

Citation Source

  • Scopus