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End of the Supercycle and Growth of Commodity Producers - Luc Eyraud
This paper estimates the effect of copper prices on Chile's growth at various time horizons. We find that a price decline is likely to have a durable (although not permanent) effect on GDP growth: while the impact is the strongest in the first 3 years after the shock, the transition towards the new lower steady-state GDP level generally takes 5-10 years. From a production function perspective, the GDP growth slowdown is mainly driven by lower capital accumulation.
Author: Eyraud, Luc
Publisher: INTERNATIONAL MONETARY FUND
Title: End of the Supercycle and Growth of Commodity Producers
Pages: 00027 (Encrypted EPUB) / 00027 (Encrypted PDF)
On Sale: 2015-11-23
Category: Business & Economics : International - Economics
Category: Social Science : Developing & Emerging Countries
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