Commodities, Developing Countries & the Resource Curse   

 NEW   How Commodity Exporters Can Cope with Price Volatility: Four Proposals,” ppt pdf; AAEA, Aug. 1, 2016.
“How to Cope with Volatile Commodity Export Prices: Four Proposals,”
ppt, pdf; High Level Seminar, Natural Resources, Finance & Growth, sponsored by Bank of Algeria, Algiers, May 28-29, 2016.   ppt, pdf OCP, Casablanca, June 3.

Coping with Commodity Volatility:Macroeconomic Policies for Developing Countries," IMF Institute for Capacity Development, June 2015.

 How to Cope with Volatile Commodity Export Prices: Four Proposals,” (pdf).  Keynote Address, Commodity Prices and Macroeconomic PolicyConference of the Central Bank of Chile, organized by R.Caputo and R.Chang, Santiago, Oct. 23, 2014,  
 Course on Monetary Policy & Commodities, Study Center Gerzensee, Swiss National Bank, June 2014: Commodity Prices; NR Curse; Currency Policy.
"An Economic Perspective on the Natural Resource Curse  and Its Implications for a Developing Country,"
Day of Ecuador at Harvard: Breaking the Natural Resources Dependence, April 21, 2014.
Coping with Commodity Volatility:Macroeconomic Policies for Developing Countries," IMF Institute for Capacity Development, May 2013.  Main & appendices.
"Resource Abundance: Pitfalls and Prescriptions," Frontiers in Development Policy, World Bank Institute, April 22, 2013. 

Macroeconomic Policy in Countries with Natural Resource Wealth,” Leading Economic Growth, Executive Education Program, Harvard, Feb.14, 2013.

"Dealing with the Resource Curse: How Can Commodity Exporters Reduce Procylicality?","NBER Conference, Zanzibar, Dec.18-19, 2012.
"The Natural Resource Curse and How to Fight It," (I) Causes (II) Cures, IMF Institute for Capacity Development, July 27, 2012.

The Natural Resource Curse: A Survey of Diagnoses and Some Prescriptions,” in Commodity Price Volatility and Inclusive Growth in Low-Income Countries, 2012, edited by Rabah Arezki, Catherine Patillo, Marc Quintyn & Min Zhu (International Monetary Fund: Washington DC). HKS RWP12-014.  CID WP 233 April 2012.   High Level Seminar, IMF Annual Meetings, Sept.21, 2011, slides;   videoclip (Sheeran, Frankel, Bredenkamp, Ross...).      IMF Podcasts on the Curse: Causes, June 30 and Remedies, July 6, 2011.

Chile's Countercyclical Triumph," in Transitions, Foreign Policy, June 27, 2012.

The Mining Resource ‘Curse’ and How Countries Can Fight It,”
RBC Global  Mining Conference, Toronto, June 20, 2012.

"How Countries Can Deal With Commodity Price Volatility G-20 Commodities Seminar, Los Cabos, Mexico, 5 de Mayo, 2012.

Escaping the Oil Curse,” Project Syndicate,  Dec. 9, 2011. 

"Barrels, Bushels and Bonds: How Commodity Exporters Can Hedge Volatility,"  Project Syndicate, October 17, 2011 E.g., Korea Herald. and "Commodity bonds may be neat answer,” Sydney Morning Herald, Oct.19.

"The Curse: Why Natural Resources Are Not Always a Good Thing,”  Milken Institute Review, vol.13, no.4, 4th quarter 2011: 28-39.

"Increases in Global Commodity Prices: Macroeconomics and Policy Responses of Developing Countries," full slides, V Jornada Monetario, Central Bank of Bolivia, July 18, 2011  .
Main (appendices)

Combating Agricultural Price Volatility,
Project Syndicate, June 27, 2011.

How Can Commodity Exporters Make Fiscal and Monetary Policy Less Procyclical?  Beyond the Curse: Policies to Harness the Power of Natural Resources, R.Arezki, T.Gylfason & A.Sy, eds. (IMF, 2011).  HKS RWP 11-015.  Keynote address,  High Level Seminar IMF Institute & Central Bank of Algeria, Algiers, Nov.4.  HKS, Dec.1, 2010.   "How Can Commodity Producers Reduce Procyclicality?" slides, for G-20: Completing the Agenda, AEEF Conference, Session on Fighting Volatility in Commodity Markets, Ministry of Finance, Paris, Jan.2011. 

NEW A Solution to Fiscal Procyclicality:  The Structural Budget Institutions Pioneered by Chile,” 2013, in Fiscal Policy and Macroeconomic Performance, edited by Luis Felipe Céspedes & Jordi Galí, Series on Central Banking Analysis, and Economic Policies , vol.17.    Also in Spanish translation, Journal Economía Chilena  (The Chilean Economy), vol.14, no.2, August, 2011 (Central Bank of Chile), pp.39-78.    NBER WP No.16945, April 2011.  "A Solution to Overoptimistic Forecasts and Fiscal Procyclicality: The Structural Budget Institutions Pioneered by Chile," HKS RWP11-012, Feb.2011 (full version with Fixed Effects). CID WP 216Jan.2011.  Central Bank of Chile  WP 604,  Jan.2011.  Conference draft, Slides, 14th Annual Conference of the Central Bank of Chile, Oct.2010, Santiago.  Data. In Stata.  Data explanationData for figures.

A Comparison of Product Price Targeting and Other Monetary Anchor Options, for Commodity-Exporters in Latin America,"  Economia, vol.11 (Brookings Institution), 2011.   NBER WP 16362, Sept.2010.    Slides, World Bank, Sept.2009.  Box in Natural Resources in Latin America and the Caribbean: Beyond Booms and Busts, World Bank, 2010..  [“LAC can avoid 'natural resource curse' through savings, good policies – World Bank ReportThe Gleaner, Jamaica, Sept.15, 2010.]

The Natural Resource Curse: A Survey,” 2012, Chapter 2 in Beyond the Resource Curse, edited by Brenda Shaffer & Taleh Ziyadov (University of Pennsylvania Press); proofs & notesuncorrected proofs. Summary 2010, WTO Discussion Forum.  [A quote.]    WP 195, May 2010, CID.  NBER WP 15836, March 2010.  RWP10-005, HKS, Feb.2010.

"The Natural Resource Curse" slides, Low-Income Countries seminar series,  IMF, April 26, 2011;  I: Pitfalls of  Commodity Wealth   II: Recommendations to Avoid the Pitfalls.
Revised from:  I: Can Mineral Wealth Cause Problems?   II: Recommendations Mongolia Economic Forum, Ulan Bator, March 3, 2011.
Oil Economics lecture slides, Azerbaijan Diplomatic Academy, Baku, July 7-9, 2010: 1.Oil Prices.  2. Resource Curse.  3.Recommendations. 4.Democracy.    

Comments on “Credibility, Commitment and Regulation, by Dieter Helm,” in The Natural Resources Trap, B.Hogan & F.Sturzenegger, eds., 2010 (MIT Press), p.325-30.


Commodities and Africa