Commodity Supply Management by Producing Countries A Case-Study of the Tropical Beverage Crops

, by Maizels, Alfred; Bacon, Robert; Mavrotas, George

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ISBN: 9780198233381 | 0198233388
Cover: Hardcover
Copyright: 10/2/1997

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The collapse in commodity prices since 1980 has been a major cause of the economic crisis in a large part of the Third World. This book demonstrates, using new econometric models, that the producing countries could have prevented this price collapse by appropriate supply management.

List of Figures

(2)

List of Tables

(4)

List of Abbreviations

Introduction

(6)

PART I. WORLD MARKET TRENDS AND SUPPLY MANAGEMENT OPTIONS

(98)

1. The International Economic Background

(14)

1.1. Recent Trends in International Commodity Trade

(7)

1.2. The Continuing Impasse in International Commodity Policy

(2)

1.3. Producer-only Supply Management

(5)

2. Problems of the World Markets for Tropical Beverages

(22)

2.1. Underlying Economic Problems

(4)

2.2. The Cocoa Market

(4)

2.3. The Coffee Market

(7)

2.4. The Tea Market

(7)

3. International Remedial Action

(14)

3.1. The International Cocoa Agreements

(3)

3.2. The International Coffee Agreements

(5)

3.3. International Negotiations on Tea

(4)

4. Supply Management Options

(10)

4.1. Alternative Approaches to Supply Management

(4)

4.2. Other Possible Mechanisms

(4)

5. Supply Management Simulations

(26)

5.1. Cocoa

(9)

5.2. Coffee

(8)

5.3. Tea

(8)

6. Summary of Findings and Policy Implications

(12)

6.1. Main Findings

(6)

6.2. Policy Implications

(6)

PART II. ECONOMETRIC ANALYSIS

105

(92)

7. The World Cocoa Market

105

(38)

7.1. The Demand for Cocoa

105

(8)

7.2. The Supply of Cocoa

113

(12)

7.3. The Determination of Cocoa Prices

125

(7)

Annexe: The Demand for Chocolate and the Demand for Cocoa

132

(11)

8. The World Coffee Market

143

(28)

8.1. The Demand for Coffee

143

(10)

8.2. The Production of Coffee

153

(7)

8.3. Prices and Market-Clearing

160

(11)

9. The World Tea Market

171

(26)

9.1. The Demand for Tea

171

(4)

9.2. The Supply of Tea

175

(6)

9.3. The Determination of Tea Prices

181

(3)

Annexe: A Model of Import Shares

184

(13)

STATISTICAL APPENDIX

197

(28)

A. Estimated Equations for the Econometric Models

197

(24)

B. Simulation Results

221

(4)

References

225

(4)

Index

229

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Commodity Supply Management by Producing Countries A Case-Study of the Tropical Beverage Crops

Summary

Table of Contents

Supplemental Materials