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Details van artikel 7 van 12 gevonden artikelen
| Titel: |
International commodity control through national buffer stocks: A case study of natural rubber |
| Auteur: |
Brown, C. P. |
| Verschenen in: |
The journal of development studies |
| Paginering: | Jaargang 10 (1974) nr. 2 pagina's 188-212 |
| Jaar: |
1974-01 |
| Inhoud: |
This paper illustrates, with a ten year simulation, possible effects of Malaysia's national buffer stock for natural rubber on the level and stability of export earnings, export tax revenue, producer income and world price. Employing rubber market parameters based on inference and empirical tests and buffer stock operating costs and policies similar to those of the current Malaysian buffer stock, it is shown that capital requirements for effective control exceed those at the disposal of the buffer stock manager while control may be expected to stabilize price at the expense of export earnings and producer income stability. These unfavourable effects can be neutralized in part by the increase in receipts obtained with a sufficiently narrow controlled price range or by an increase in demand emanating from reduced price risk. Under the apparent wider range of the buffer stock, losses in export earnings and producer income, as well as capital expenses and the terminal deficit of the stock authority are each less than 1 per cent of export earnings and producer income. The maximum short run capital requirement is about 2.5 per cent of these latter magnitudes. The arguments presented indicate that internationalization of the buffer stock would increase the benefits and decrease the costs in terms of the proportion of producer income and export earnings, compared to the existing national device. |
| Uitgever: |
Routledge |
| Bronbestand: |
Elektronische Wetenschappelijke Tijdschriften |
Details van artikel 7 van 12 gevonden artikelen
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