Oil Spills on Other Commodities

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dc.creatorBaffes, John
dc.date2012-06-06T19:33:44Z
dc.date2012-06-06T19:33:44Z
dc.date2007-08
dc.date.accessioned2026-07-01T00:58:23Z
dc.descriptionThis paper examines the effect of crude oil prices on the prices of 35 internationally traded primary commodities for the 1960-2005 period. It finds that the pass-through of crude oil price changes to the overall non-energy commodity index is 0.16. At a more disaggregated level, the fertilizer index had the highest pass-through (0.33), followed by agriculture (0.17), and metals (0.11). The prices of precious metals also exhibited a strong response to the crude oil price. In terms of individual commodities, the estimates of the food group exhibited remarkable similarity while those of raw materials and metals gave a mixed picture. The implication is that if crude oil prices remain high for some time, as most analysts expect, then the recent commodity price boom is likely to last much longer than earlier booms, at least for food commodities. The other commodities, however, are likely to follow diverging paths. On the methodological side, the results show that price indices, while providing useful summary statistics, need to be supplemented by individual commodity analysis.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2007/08/8185009/oil-spills-other-commodities
dc.identifierhttps://hdl.handle.net/10986/7319
dc.identifierhttps://doi.org/10.1596/1813-9450-4333
dc.identifier.urihttp://hdl.handle.net/123456789/413700
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relationPolicy Research Working Paper; No. 4333
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectAGRICULTURAL COMMODITIES
dc.subjectAGRICULTURAL COMMODITY
dc.subjectAUCTIONS
dc.subjectAVERAGE PRICE
dc.subjectBARTER
dc.subjectBORROWING COUNTRIES
dc.subjectCOAL
dc.subjectCOMMODITY
dc.subjectCOMMODITY AGREEMENTS
dc.subjectCOMMODITY BOOM
dc.subjectCOMMODITY BOOMS
dc.subjectCOMMODITY EXCHANGE
dc.subjectCOMMODITY INDEX
dc.subjectCOMMODITY MARKET
dc.subjectCOMMODITY MARKETS
dc.subjectCOMMODITY PRICE
dc.subjectCOMMODITY PRICE INDEX
dc.subjectCOMMODITY PRICE INDICES
dc.subjectCOMMODITY PRICES
dc.subjectCORPORATE FINANCE
dc.subjectCRUDE OIL
dc.subjectCRUDE OIL PRICE
dc.subjectDATA MINING
dc.subjectDEBT
dc.subjectDEMAND FUNCTION
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPING COUNTRY
dc.subjectDEVELOPMENT FINANCE
dc.subjectDISPOSABLE INCOME
dc.subjectECONOMIC ACTIVITY
dc.subjectECONOMIC DEVELOPMENT
dc.subjectELECTRICITY
dc.subjectEMERGING ECONOMIES
dc.subjectEND-USERS
dc.subjectENERGY COSTS
dc.subjectENERGY OUTLOOK
dc.subjectENERGY PRICES
dc.subjectENERGY USE
dc.subjectEQUILIBRIUM PRICE
dc.subjectETHANOL
dc.subjectETHANOL PRODUCTION
dc.subjectEXCHANGE RATES
dc.subjectEXPENDITURES
dc.subjectFOOD COMMODITIES
dc.subjectFUEL
dc.subjectGAS PRICE
dc.subjectGLOBAL ECONOMY
dc.subjectGLOBAL ENERGY DEMAND
dc.subjectGLOBALIZATION
dc.subjectHYDROELECTRIC POWER
dc.subjectICO
dc.subjectINDUSTRIAL COUNTRIES
dc.subjectINDUSTRIAL PRODUCTION
dc.subjectINFLATION
dc.subjectINFLATIONARY PRESSURES
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL COMMODITY AGREEMENTS
dc.subjectMARGINAL COST
dc.subjectMARKET PRICE
dc.subjectMARKET SHARE
dc.subjectMIDDLE EASTERN
dc.subjectNATURAL GAS
dc.subjectNEW TECHNOLOGY
dc.subjectNITROGEN
dc.subjectNITROGEN FERTILIZER
dc.subjectOIL
dc.subjectOIL IMPORTING COUNTRIES
dc.subjectOIL PRICES
dc.subjectOIL PRODUCING
dc.subjectOIL PRODUCING COUNTRIES
dc.subjectOIL SPILLS
dc.subjectOILS
dc.subjectOUTPUT
dc.subjectPETROLEUM
dc.subjectPETROLEUM PRICES
dc.subjectPRICE BEHAVIOR
dc.subjectPRICE CHANGE
dc.subjectPRICE CHANGES
dc.subjectPRICE INCREASES
dc.subjectPRICE INDEX
dc.subjectPRICE INDICES
dc.subjectPRICE MOVEMENTS
dc.subjectPRICE OF OIL
dc.subjectPRICE SPIKES
dc.subjectPRIMARY COMMODITIES
dc.subjectPRIMARY COMMODITY
dc.subjectPRODUCTIVITY
dc.subjectRAW MATERIAL
dc.subjectRAW MATERIALS
dc.subjectRESULT
dc.subjectRESULTS
dc.subjectRSS
dc.subjectSALE
dc.subjectSETTLEMENT PRICE
dc.subjectSOURCE OF ENERGY
dc.subjectSOUTH AMERICAN
dc.subjectSOYBEAN MEAL
dc.subjectSOYBEAN OIL
dc.subjectSUBSTITUTE
dc.subjectSUBSTITUTES
dc.subjectSYNTHETIC RUBBER
dc.subjectTECHNOLOGICAL CHANGE
dc.subjectTRADED COMMODITIES
dc.subjectUSES
dc.subjectWEB
dc.subjectWORLD ECONOMY
dc.subjectWORLD TRADE
dc.titleOil Spills on Other Commodities

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