Economic Paper

2310-1385 (online)
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This series examines current economic issues from a Commonwealth perspective. The titles in the series are technical papers of topical interest to specialists concerned with trade, micro and macroeconomics, development economics and related subjects.

The Common Fund

The Common Fund

Papers Prepared for Commonwealth Technical Group, Volume 1: Papers Prepared by Consultants, September 1977 You do not have access to this content

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Commonwealth Secretariat
01 Sep 1977
9781848592582 (PDF)
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  • Preface

    The Common Fund has been on the international agenda for some considerable time. Its role, scope and functions, indeed the need for it, have been analysed and discussed in a wide range of official and private fora. The Commonwealth Experts' Group, in their final Report “Towards a New International Economic Order” devoted a considerable amount of attention to the establishment of the Fund.

  • A Common Fund - Financial Organisation, Operations and Management

    The Commonwealth Secretariat on 1st July, 1977, commissioned Commodities Research Unit, of London and New York, to prepare the following study on “A Common Fund - Financial Organisation, Operations and Management”.

  • The UNCTAD Integrated Programme and Macro-economic Considerations

    The Integrated Programme for Commodities, including the idea of a Common Fund, was mooted by the UNCTAD Secretariat late in 1974, revised thereafter and endorsed by UNCTAD IV for further negotiations. It represents a package approach to the solution of the world's commodity problems. The Programme, as outlined in the substantive Resolution 93(iv), sets out seven objectives, including avoidance of excessive price fluctuations, improvement and sustenance of the real income of individual developing countries, improvement of market access and reliability of supply for primary products and the processed products thereof, diversification of production and expansion of agro-processing in developing countries, encouragement of research and development to improve the competitiveness of natural products vis-a-vis synthetics, and improvement of market structures and systems of marketing, distribution and transport in the field of primary commodities. In a convenient summary form, the objectives are(i) to improve the terms of trade of the developing countries and to ensure an adequate rate of growth in the purchasing power of the aggregate earnings of their exports of primary commodities, while minimising short-term fluctuations in these earnings; and (ii) to encourage more orderly development of world commodity markets in the interests of both producers and consumers.

  • Price Stabilisation, and Income Support Measures in Agriculture in the U. S., Canada, EEC and Australia: Lessons and Implications for the Regulation of International Commodity Trade

    The object of the paper is to discuss the extent to which experience with the agricultural policies of developed countries can be related to the problem of international commodity regulation. The basic similarity of the problems is striking (paragraph 4), and the techniques used by governments in farm policy also have a close affinity to those suggested in an international context (paragraph 5).

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