Kahn on Buffer Stocks

José Gabriel Palma ()

Cambridge Journal of Economics, 1994, vol. 18, issue 1, 117-27

Abstract: After Kahn's death an unpublished manuscript and other writings on the subject of buffer stocks were found among his papers. For Kahn, the crucial issue was that commodity price instability affected seriously (and unnecessarily) not only producers but also consumers and the world economy in general. He argued that buffer stocks were necessary and that their main function should be to compensate for fluctuations in demand and supply of primary commodities. From this point of view, they would only be able to make marginal contributions to the problems of the chronically low income of many primary producers, and of the possible one-and-for-all change in the relation of demand and supply. [development, primary commodities, international coordination, export-led growth]. (c) 1994 Academic Press, Inc. Copyright 1994 by Oxford University Press.

Date: 1994
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