Commodity diversification: A market model
构建了一个区分市场相关和生产者特定不稳定因素的模型，分析商品多样化对出口收入稳定性的影响，对28个初级产品出口国的应用表明该模型可为政策制定提供参考。
Commodity diversification has been adopted widely by developing countries as a policy measure to tackle the problem of export instability. Arguments about diversification have emphasised the role of external demand conditions and the need to export manufactures. The importance of random supply factors in determining earnings from primary products has been overlooked as a potential source of greater stability. A model of commodity earnings is developed which distinguishes between market‐related and producer‐specific components of instability. Application to the export structures of twenty‐eight primary exporters suggests that this approach represents a useful guide to policy‐makers.