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Published online by Cambridge University Press: 06 November 2020
This chapter is devoted to the special problems encountered by nations that are heavily dependent on a small group of commodities, or, in the extreme case, reliant on a single commodity (monoeconomies). We begin by discussing the measures of commodity dependence and definemonoeconomies in the process. We then turn to exploring the problems of export instability, fiscal extraction and exchange rate policies that often arise in commodity-dependent countries. We finally deal with Dutch disease and the resource curse, two ailments of particular significance to monoeconomies.
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