English, Article, Journal or magazine article edition: The Macro Management of Commodity Booms: Africa and Latin America's Response to Asian Demand Rolando Avendaño; Helmut Reisen; Javier Santiso

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Bookmark: http://trove.nla.gov.au/version/86022
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • The Macro Management of Commodity Booms: Africa and Latin America's Response to Asian Demand
Author
  • Rolando Avendaño
  • Helmut Reisen
  • Javier Santiso
Physical Description
  • preprint
Notes
  • Strong growth in China and India has led to improvements in raw-material exporting countries' terms of trade and attracted complementary finance. The long-term challenge for these countries, where institutions are often fragile, is to avoid the so-called “resource curse”. This paper aims to provide a comparative perspective between policy choices in commodity-exporting countries, contrasting the experiences of Africa and Latin America. First, it highlights global macroeconomic links between the Asian Drivers (China and India) and these regions. Second, it discusses optimal policy responses from a macroeconomic and institutional perspective. Third, it presents empirical evidence on macroeconomic, particularly fiscal responses to Dutch disease and the specialisation effects caused by Asian Drivers' demand and assesses the benefits and challenges offered by the Asian Drivers from a macro perspective for both Africa and Latin America.La forte croissance enregistrée par la Chine et l'Inde a permis aux pays exportateurs de matières premières d'améliorer substantiellement leurs termes de l'échange et d'enregistrer des afflux de capitaux conséquents. A long terme, le défi pour ces pays, aux institutions souvent fragiles, sera d'éviter de tomber dans la trappe de la malédiction des matières premières. Le travail ici présenté se propose d'analyser de manière comparée les réponses en matière de politiques économiques de la part des pays qui bénéficient de cette nouvelle manne, en contrastant en particulier les expériences africaines et latino-américaines. On souligne en premier lieu les liens macro-économiques entre les locomotives asiatiques (Chine et Inde) et ces deux régions. Ensuite, on discute les réponses économiques optimales face à ce choc de demande positif. Enfin, on présente les résultats empiriques et, en particulier, les réponses macroéconomiques en matière budgétaire et commerciale des pays bénéficiaires puis on évalue les bénéfices et les défis aussi bien pour l'Afrique que pour l'Amérique latine.
  • Latin America, Amérique latine, dutch disease, Africa, Afrique, commodity booms, Asian drivers, boom des matières premières, locomotives asiatiques, maladie hollandaise
  • RePEc:oec:devaaa:270-en
Language
  • English
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