International Commodity Policy

A Quantitative Analysis

Roland Herrmann, Kees Burger, Hidde P. Smit

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English

Routledge
01 April 2025

International trade; Agriculture & related industries

Series: Routledge Revivals

Originally published in 1993, this book provides an excellent analysis of commodity policies internationally during the late 20th Century. It discusses 2 major methods of market regulation: price stabilization – based on buffer stocks or export quotas – and compensatory finance. The authors analyse whether major commodity policies have reached their primary objectives and to what extent they have had economic side effects. Discussion of more general policy issues centres around three international commodity agreements for coffee, rubber and cocoa. The authors also look at the policies adopted by individual nations to regulate commodity trading and assess to what extent they have reached their objectives. A discussion of the intervention of the International Monetary Fund and STABEX assesses the degree of stability they can provide in a highly volatile and variable environment. Nearly 30 years later, volatile world commodity markets are still a major issue in the policy dialogue. Although topics, policy instruments and concepts have changed, this book remains a fundamental contribution to the study of international commodity policy. It will be of great interest to students of commodity policy and economic development and economists in national and international organizations dealing with market stabilization.

By: Roland Herrmann, Kees Burger, Hidde P. Smit
Imprint: Routledge
Country of Publication: United Kingdom
Dimensions: Height: 216mm, Width: 138mm,
Weight: 600g
ISBN: 9781032459196
ISBN 10: 1032459190
Series: Routledge Revivals
Pages: 322
Publication Date: 01 April 2025
Audience: College/higher education , Primary
Format: Paperback
Publisher's Status: Active

Part 1: The Politics and Economics of Commodity Agreements and Compensatory Financing 1. The History of Politics of International Commodity Agreements and Compensatory Financing 2. The Economics of Stabilization: A Historical Survey Part 2: Compensatory Financing: An Economic Evaluation of Current Programmes 3. The International Monetary Fund’s Compensatory Financing Facility 4. Commodity-Related Financial Compensation by the European Community 5. Food Security and Compensatory Financing: A Discussion of the International Monetary Fund’s Cereal Import Facility Part 3: Commodity Arrangements: An Economic Evaluation of Current Programmes 6. The International Coffee Agreement 7. The International Natural Rubber Agreement 8. The International Cocoa Agreement 9. Commodity Protocols 10. A Comparison and Evaluation of the Arrangements.

Roland Herrmann is Professor Emeritus of Agricultural and Food Market Analysis at Justus Liebig University, Giessen, Germany. Kees Burger, 1950-2016, was Associate Professor of Development Economics at Wageningen University and Research, Wageningen, Netherlands. Hidde P. Smit is an Independent Consultant on Analysis and Forecasts for the Rubber Economy. He was Secretary General of the International Rubber Study Group in London and Singapore (2005 – 2009) and Head of the Economic Research Division of the Economic and Social Institute, Free University Amsterdam (1995-2004).