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Commodities and Development Report 2017

Commodity Markets, Economic Growth and Development

image of Commodities and Development Report 2017

The 2017 Commodities and Development Report investigates the transmission channels through which commodity dependence affects micro- and macro-level development outcomes, examines long-term commodity price trends and simulates their impacts on economic agents, and highlights challenges and lessons from ten commodity-dependent developing country case studies. The report concludes that country-level strategies aimed at the achievement of the Sustainable Development Goals (SDGs) must address commodity dependence in order to be successful.

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Case studies

This chapter presents a series of case studies that illustrate the extent to which commodities have contributed to economic growth and development in 12 countries. The case studies cover a wide spectrum of commodities – from oil in Nigeria to sorghum in Mali. They also analyse different impacts: from Zambia’s dependence on copper exports to the strong linkages between unskilled wages and the price of rice in Bangladesh. The analysis demonstrates how different commodities have affected national economies through multiple avenues, and the policy responses that have aimed at strengthening resilience to global commodity price shocks, while at the same time leveraging commodity sectors’ contribution to development, poverty reduction and food security. The case studies draw a comprehensive picture, showing how some countries have managed to harness commodities in promoting inclusive growth and development, while in others commodity dependence has hampered growth prospects owing to weak governance. Lessons can be drawn from the success stories, but also from cases where economies continue to suffer from the negative consequences of commodity dependence.

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