Commodity price stabilisation: macroeconomic impacts and policy options
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A macroeconometric simulation study is undertaken to evaluate the impact of commodity price stabilisation (CPS) schemes
for the export tree crop industry in Papua New Guinea. The findings suggest that there is a negligible level of favourable
macroeconomic impacts of CPS. Contrary to the expectation, CPS adversely affects the stability of monetary and external
sectors (BOP). CPS policy has failed to stabilise the macroeconomy. The price stabilisation policies are no longer appropriate
from the macroeconomic point of view. Technical change, futures market and rural savings are the possible alternative policy
options to manage the price risk. © 2000 Elsevier Science B. V. All rights reserved.