Global Commodity Price Stabilization: Implications for World Trade and Development

Global Commodity Price Stabilization: Implications for World Trade and Development

Global Commodity Price Stabilization: Implications for World Trade and Development

Global Commodity Price Stabilization: Implications for World Trade and Development

Excerpt

The turbulence of the world economy arises from several factors, including the dislocations in the international trading system, the problems of fluctuations in commodity prices, and the resulting adverse effects on the development processes of the producers of commodities from different parts of the world, particularly developing countries that rely heavily on the export earnings accruing from commodities. In addition there is the persistent problem of developing countries' debt. These and a host of other associated problems have led scholars and policymakers to review and appraise the mechanisms for dealing with those problems and the costly effects emanating from them.

The purpose of this book is to study global commodity price stabilization issues and their implications for world trade and development. It traces the evolutionary development of commodity price stabilization and the impact on world trade policies. An attempt is made to explore the contemporary changes in global trade agreements and their relationships to the international and regional changes in trade structure and economic integrations.

The most distinguishing features of this book are its interdisciplinary perspective, relevance, and readability. First, the contributors are trained in different disciplines and have attempted to analyze the problems of commodity trade and development from different perspectives by relying on analytical tools and theoretical frameworks drawn from different disciplines. Hence, a broad and comprehensive approach embodying economic, legal, and political implications is a dominant fea-

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