Development indicators Gianni Vaggi University of Pavia September 2013 On the causes of economic growth.

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Presentation transcript:

Development indicators Gianni Vaggi University of Pavia September 2013 On the causes of economic growth

GDP by sector in East South Africa Source: Schoening Data from African Development Bank, Selected Statistics on African Countries 2007

Share of Primary Commodity Exports in total exports,

Share of primary commodity exports in total exports by region,

Commodity prices

Index of real commodity prices,

World Primary Commodity Prices Variations

Price instability over time

Causes of commodity price volatility Inelastic nature of supply and demand Business cycles in key markets Wheather events Conflicts in producing countries Price speculation Export dumping Exchange rate fluctuations