Publication:
The Role of Major Emerging Markets in Global Commodity Demand

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dc.contributor.authorKabundi, Alain
dc.contributor.authorBaffes, John
dc.contributor.authorNagle, Peter
dc.contributor.authorOhnsorge, Franziska
dc.date.accessioned2018-06-28T15:38:54Z
dc.date.available2018-06-28T15:38:54Z
dc.date.issued2018-06
dc.description.abstractRapid growth among the major emerging markets over the past 20 years has boosted global demand for commodities. The seven largest emerging markets accounted for almost all the increase in global consumption of metals, and two-thirds of the increase in energy consumption over this period. As emerging market economies mature and shift towards less commodity-intensive activities, their demand for commodities may plateau. This paper estimates income elasticities of demand for a range of energy, metal and food commodities, and finds evidence of plateauing among several commodities. Looking ahead, as economies mature and GDP growth slows, growth in demand for commodities may also slow. Based on current population and GDP growth forecasts, this paper produces scenarios of potential growth in demand for commodities over the next decade. While global energy consumption growth may remain broadly steady, growth in global demand for metals and food could slow by one-third over the next decade. This would dampen global commodity prices. Despite an expected slowdown in its growth rate, China would likely remain the single largest consumer of many commodities. For the two-thirds of emerging market and developing economies that depend on raw materials for government and export revenues, these prospects reinforce the need for economic diversification and the strengthening of policy frameworks.en
dc.identifierhttp://documents.worldbank.org/curated/en/865201530037257969/The-role-of-major-emerging-markets-in-global-commodity-demand
dc.identifier.doi10.1596/1813-9450-8495
dc.identifier.urihttps://hdl.handle.net/10986/29948
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper;No. 8495
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectCOMMODITIES
dc.subjectEMERGING MARKET ECONOMIES
dc.subjectCONSUMPTION
dc.subjectDIVERSIFICATION
dc.subjectENERGY
dc.subjectFOOD
dc.subjectMETALS
dc.subjectOIL
dc.subjectINTENSITY
dc.titleThe Role of Major Emerging Markets in Global Commodity Demanden
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.crossref.titleThe Role of Major Emerging Markets in Global Commodity Demand
okr.date.disclosure2018-06-26
okr.doctypePublications & Research
okr.doctypePublications & Research::Policy Research Working Paper
okr.docurlhttp://documents.worldbank.org/curated/en/865201530037257969/The-role-of-major-emerging-markets-in-global-commodity-demand
okr.guid865201530037257969
okr.identifier.doi10.1596/1813-9450-8495
okr.identifier.externaldocumentum090224b085cb99e7_2_0
okr.identifier.internaldocumentum30204998
okr.identifier.reportWPS8495
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/865201530037257969/pdf/WPS8495.pdfen
okr.statistics.combined6432
okr.statistics.dr865201530037257969
okr.statistics.drstats3367
okr.topicInternational Economics and Trade::Globalization and Financial Integration
okr.topicMacroeconomics and Economic Growth::Commodities
okr.topicMacroeconomics and Economic Growth::Consumption
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicPrivate Sector Development::Emerging Markets
okr.unitDevelopment Prospects Group, Development Economics
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relation.isAuthorOfPublication.latestForDiscovery18b25906-9cb0-519d-95a9-8bfd4c5a3666
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