End of the Supercycle and Growth of Commodity Producers The Case of Chile
This paper estimates the effect of copper prices on Chile’s growth at various time horizons. We find that a price decline is likely to have a durable (although not permanent) effect on GDP growth: while the impact is the strongest in the first 3 years after the shock, the transition towards the new...
| Main Author: | |
|---|---|
| Format: | eBook |
| Language: | English |
| Published: |
Washington, D.C.
International Monetary Fund
2015
|
| Series: | IMF Working Papers
|
| Subjects: | |
| Online Access: | |
| Collection: | International Monetary Fund - Collection details see MPG.ReNa |
| Summary: | This paper estimates the effect of copper prices on Chile’s growth at various time horizons. We find that a price decline is likely to have a durable (although not permanent) effect on GDP growth: while the impact is the strongest in the first 3 years after the shock, the transition towards the new lower steady-state GDP level generally takes 5–10 years. From a production function perspective, the GDP growth slowdown is mainly driven by lower capital accumulation |
|---|---|
| Physical Description: | 27 pages |
| ISBN: | 9781513531557 |