dc.contributor.editor	Baffes, John
dc.contributor.editor	Nagle, Peter
dc.date.accessioned	2022-05-06T16:12:07Z
dc.date.available	2022-05-06T16:12:07Z
dc.date.issued	2022-12
dc.description.abstract	Commodity markets are integral to the global economy. Understanding what drives developments of these markets is critical to the design of policy frameworks that facilitate the economic objectives of sustainable growth, inflation stability, poverty reduction, food security, and the mitigation of climate change. This study is the first comprehensive analysis examining market and policy developments for all commodity groups, including energy, metals, and agriculture, over the past century. It finds that, while the quantity of commodities consumed has risen enormously, driven by population and income growth, the relative importance of commodities has shifted over time, as technological innovation created new uses for some materials and facilitated substitution among commodities. The study also shows that commodity markets are heterogeneous in terms of their drivers, price behavior, and macroeconomic impact on emerging markets and developing economies, and that the relationship between economic growth and commodity demand varies widely across countries, depending on their stage of economic development. Policy frameworks that enable countercyclical macroeconomic responses have become increasingly common—and beneficial. Other policy tools have had mixed outcomes.	en
dc.identifier.doi	10.1596/978-1-4648-1911-7
dc.identifier.isbn	978-1-4648-1911-7
dc.identifier.isbn	978-1-4648-1912-4 (electronic)
dc.identifier.other	Library of Congress Control Number: 2022917353
dc.identifier.uri	https://hdl.handle.net/10986/37404
dc.publisher	Washington, DC: World Bank
dc.rights	CC BY 3.0 IGO
dc.rights.holder	World Bank
dc.rights.uri	http://creativecommons.org/licenses/by/3.0/igo
dc.subject	COMMODITY PRICE FLUCTUATION
dc.subject	FISCAL POLICY
dc.subject	COMMODITY PRICES
dc.subject	OIL PRICES
dc.subject	ENERGY MARKETS
dc.subject	OPEC
dc.title	Commodity Markets	en
dc.title.subtitle	Evolution, Challenges and Policies	en
dc.type	Book	en
dc.type	Livre	fr
dc.type	Libro	es
dspace.entity.type	Publication
okr.associatedcontent	https://www.youtube.com/watch?v=nc7Xh4b3v2Q YouTube Presentation
okr.date.disclosure	2022-05-12
okr.docurl	https://documents.worldbank.org/en/publication/documents-reports/documentdetail/099655201112332264/idu0ef96df5a0a8f30477e09e0d030b1074f27d1
okr.guid	099655201112332264
okr.identifier.doi	10.1596/978-1-4648-1911-7
okr.language.supported	en
okr.region.geographical	World
okr.topic	Energy::Energy Markets
okr.topic	Energy::Energy Policies & Economics
okr.topic	Energy::Energy Sector Regulation
okr.topic	Energy::Oil & Gas
okr.topic	Macroeconomics and Economic Growth::Commodities
okr.unit	EFI - Prospects Group (EPGDR)

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Commodity Markets: Evolution, Challenges and Policies