Output Value Risk for Commodity Producers: The Uncertain Benefits of Diversification

Output Value Risk for Commodity Producers: The Uncertain Benefits of Diversification •The output value risk of commodity-producing countries in 1987–2016 is quantified.•Diversified producers suffered significantly lower risk than specialized producers.•The gap narrowed strongly in 2007–12 due to higher commodity correlations.•The effectiveness of diversification weakened at a time of macroeconomic distress.•Our findings are important for policy makers engaged in diversification efforts. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png World Development Elsevier

Output Value Risk for Commodity Producers: The Uncertain Benefits of Diversification

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Publisher
Elsevier
Copyright
Copyright © 2017 Elsevier Ltd
ISSN
0305-750X
eISSN
1873-5991
D.O.I.
10.1016/j.worlddev.2017.05.039
Publisher site
See Article on Publisher Site

Abstract

•The output value risk of commodity-producing countries in 1987–2016 is quantified.•Diversified producers suffered significantly lower risk than specialized producers.•The gap narrowed strongly in 2007–12 due to higher commodity correlations.•The effectiveness of diversification weakened at a time of macroeconomic distress.•Our findings are important for policy makers engaged in diversification efforts.

Journal

World DevelopmentElsevier

Published: Jan 1, 2018

References

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