UNCTAD AND THE BUFFER STOCK SCHEME FOR PRICE STABILIZATION: A SURVEY OF RECENT LITERATURE
The issue of the international buffer stock scheme for the stabilization of prices of primary commodities came to forefront in the mid 1970's. This survey aims at highlighting some critical issues with a selective review of the major recent contributions in the area. The analytical work on commodity price stabilization started with the works of Waugh in 1944, Oi in 1961 and Massel in 1969. Johnson (1976) clarified some of the underlying assumptions and showed the impact on revenue under different supply and demand conditions. Among others, Behrman (1979) and Vines (1984) provided empirical and analytical support to the argument. One outstanding contribution in the area is that of Newbery and Stiglitz (1981) whose theoretical work and empirical estimates tend to reject the case for price stabilization. Kanbur (1984) shows that the analysis of Newbery and Stiglitz (1981) is largely microeconomic that ignores the potential macroeconomic benefit emphasized by Kaldor (1976, 1983).
Year of publication: |
1993
|
---|---|
Authors: | Hossain, Shahabuddin M. |
Published in: |
Bangladesh Journal of Agricultural Economics. - Faculty of Agricultural Economics and Rural Sociology. - Vol. 316.1993, 1
|
Publisher: |
Faculty of Agricultural Economics and Rural Sociology |
Keywords: | Research and Development/Tech Change/Emerging Technologies |
Saved in:
freely available
Saved in favorites
Similar items by person
-
The Equity Impact of the Value-Added Tax in Bangladesh
Hossain, Shahabuddin M., (1995)
-
Rahman, Atiur, (1988)
-
Mathematical models as aid to planning in Bangladesh : the issue of self reliant development
Hossain, Shahabuddin M., (1988)
- More ...