Commodity dependence, growth and human development. Background document to the Commodities and Development Report 2017
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UNCTAD ;
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This study discusses the relationship between commodity dependence, growth and human development. Two dimensions of commodity dependence are considered: the traditional primary commodity export dependence (export share of total merchandise exports) and import dependence (the share of food and oil imports in total
merchandise imports). After the examination of commodity dependence over the period 1995-2015, the focus shifts to the discussion of the mechanisms through which commodity dependence affects human development, particularly in commodity-dependent developing countries (CDDCs). Then, the relationship between commodity dependence and human development is investigated through econometric modeling. The study finds that import and export dependence are negatively associated with the level of human development. Many CDDCs are doubly hurt by commodity dependence as they are both export and import-dependent. The negative association
between commodity dependence and human development suggests that the question why CDDCs have not been able to put in motion a commodity-led development process remains topical even though most of these countries benefited from higher rates of economic growth owing to the commodity price boom of the 2000s.