||About the Author||Roman Grynberg is Manager of the Economic Governance Programme, Pacific Islands Forum. Prior to this he was the Deputy Director of Trade and Regional Integration at the Commonwealth Secretariat (2000-2005). He has also held positions with the
More than 50 developing countries depend on three or fewer commodities for more than half of their exports and, in fact, many rely on a single commodity for a large share of export earnings. This reliance inevitability exposes countries to the risk of export earnings instability as a result of price shocks and, perhaps even more significantly, the falling purchasing power of exports over the long run due to declining real prices. Presenting for the first time a complet...
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