Related Research Articles
The economy of Egypt used to be a highly centralized economy, focused on import substitution under president Gamal Abdel Nasser (1954–1970). During the rule of president Abdel Fattah el-Sisi (2014–present), the economy follows Egypt's 2030 Vision. The policy is aimed at diversifying Egypt's economy. The country's economy is the second largest in Africa after Nigeria regarding nominal GDP, and 33rd in worldwide ranking as of 2022.
The economy of Nicaragua is focused primarily on the agricultural sector. Nicaragua itself is the least developed country in Central America, and the second poorest in the Americas by nominal GDP. In recent years, under the administrations of Daniel Ortega, the Nicaraguan economy has expanded somewhat, following the Great Recession, when the country's economy actually contracted by 1.5%, due to decreased export demand in the American and Central American markets, lower commodity prices for key agricultural exports, and low remittance growth. The economy saw 4.5% growth in 2010 thanks to a recovery in export demand and growth in its tourism industry. Nicaragua's economy continues to post growth, with preliminary indicators showing the Nicaraguan economy growing an additional 5% in 2011. Consumer Price inflation have also curtailed since 2008, when Nicaragua's inflation rate hovered at 19.82%. In 2009 and 2010, the country posted lower inflation rates, 3.68% and 5.45%, respectively. Remittances are a major source of income, equivalent to 15% of the country's GDP, which originate primarily from Costa Rica, the United States, and European Union member states. Approximately one million Nicaraguans contribute to the remittance sector of the economy.
The Gross Domestic Product (GDP) of Niger was $13.68 billion US dollars in 2020, according to official data from the World Bank. This data is based largely on internal markets, subsistence agriculture, and the export of raw commodities: foodstuffs to neighbors and raw minerals to world markets. Niger, a landlocked West African nation that straddles the Sahel, has consistently been ranked on the bottom of the Human Development Index, at 0.394 as of 2019. It has a very low per capita income, and ranks among the least developed and most heavily indebted countries in the world, despite having large raw commodities and a relatively stable government and society not currently affected by civil war or terrorism. Economic activity centers on subsistence agriculture, animal husbandry, re-export trade, and export of uranium.
In economics, stagflation or recession-inflation is a situation in which the inflation rate is high or increasing, the economic growth rate slows, and unemployment remains steadily high. It presents a dilemma for economic policy, since actions intended to lower inflation may exacerbate unemployment.
The economy of Sudan has boomed on the back of increases in oil production, high oil prices, and large inflows of foreign direct investment until the second half of 2002. GDP growth registered more than 10% per year in 2006 and 2007. From 1997 to date, Sudan has $30.873 billion by gross domestic product as of 2019, and has been working with the International Monetary Fund (IMF) to implement macroeconomic reforms, including a managed float of the exchange rate. Sudan began exporting crude oil in the last quarter of 1999.
In economics, inflation is an increase in the general price level of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money. The opposite of inflation is deflation, a decrease in the general price level of goods and services. The common measure of inflation is the inflation rate, the annualized percentage change in a general price index. As prices faced by households do not all increase at the same rate, the consumer price index (CPI) is often used for this purpose. The employment cost index is also used for wages in the United States.
The Price Revolution, sometimes known as the Spanish Price Revolution, was a series of economic events that occurred between the second half of the 15th century and the first half of the 17th century, and most specifically linked to the high rate of inflation that occurred during this period across Western Europe. Prices rose on average roughly sixfold over 150 years. This level of inflation amounts to 1.2% per year compounded, a relatively low inflation rate for modern-day standards, but rather high given the monetary policy in place in the 16th century.
In economics, deflation is a decrease in the general price level of goods and services. Deflation occurs when the inflation rate falls below 0%. Inflation reduces the value of currency over time, but sudden deflation increases it. This allows more goods and services to be bought than before with the same amount of currency. Deflation is distinct from disinflation, a slow-down in the inflation rate, i.e. when inflation declines to a lower rate but is still positive.
A cash crop or profit crop is an agricultural crop which is grown to sell for profit. It is typically purchased by parties separate from a farm. The term is used to differentiate marketed crops from staple crop in subsistence agriculture, which are those fed to the producer's own livestock or grown as food for the producer's family.
The grain trade refers to the local and international trade in cereals and other food grains such as wheat, barley, maize, and rice. Grain is an important trade item because it is easily stored and transported with limited spoilage, unlike other agricultural products. Healthy grain supply and trade is important to many societies, providing a caloric base for most food systems as well as important role in animal feed for animal agriculture.
Biflation is a state of the economy, in which the processes of inflation and deflation occur simultaneously in different parts of the economy. The term was first coined in 2003 by Dr. F. Osborne Brown, a senior financial analyst at Phoenix Investment Group, and has later been widely used in the media. During the biflation, there is a simultaneous rise in prices (inflation) for commodities bought out of the basic income (earnings), and a parallel fall in prices (deflation) for goods bought mainly on credit. Biflation may be seen in the CPI composition: some CPI components are in the inflationary territory, while others are facing deflationary pressure. As such, biflation reflects the complexity of the modern financial system.
Food versus fuel is the dilemma regarding the risk of diverting farmland or crops for biofuels production to the detriment of the food supply. The biofuel and food price debate involves wide-ranging views, and is a long-standing, controversial one in the literature. There is disagreement about the significance of the issue, what is causing it, and what can or should be done to remedy the situation. This complexity and uncertainty is due to the large number of impacts and feedback loops that can positively or negatively affect the price system. Moreover, the relative strengths of these positive and negative impacts vary in the short and long terms, and involve delayed effects. The academic side of the debate is also blurred by the use of different economic models and competing forms of statistical analysis.
The world food price crisis refers to a period of time when the cost of food increased significantly and had a profound impact on the availability and affordability of food for people around the world. This crisis is often characterized by sharp spikes in the prices of key staple foods such as wheat, rice, and corn, as well as other agricultural commodities such as sugar and oil. The causes of the world food price crisis are complex and multifaceted, but they generally involve a combination of factors including droughts and other weather-related events, increased demand for biofuels, trade policies, and financial speculation. The consequences of the world food price crisis can be severe, particularly for people in low-income countries who spend a large portion of their income on food. According to IMF if prices eventually rise again, there will likely be sizeable differences between countries. Due to various factors, it is probable that the effect would be felt most by consumers in emerging markets and developing economies still wrestling with the effects of the pandemic.
The 2000s commodities boom or the commodities super cycle was the rise of many physical commodity prices during the early 21st century (2000–2014), following the Great Commodities Depression of the 1980s and 1990s. The boom was largely due to the rising demand from emerging markets such as the BRIC countries, particularly China during the period from 1992 to 2013, as well as the result of concerns over long-term supply availability. There was a sharp down-turn in prices during 2008 and early 2009 as a result of the credit crunch and European debt crisis, but prices began to rise as demand recovered from late 2009 to mid-2010.
Inflation rate in India was 5.5% as of May 2019, as per the Indian Ministry of Statistics and Programme Implementation. This represents a modest reduction from the previous annual figure of 9.6% for June 2011. Inflation rates in India are usually quoted as changes in the Wholesale Price Index (WPI), for all commodities.
Food speculation refers to the buying and selling of futures contracts by traders with the aim of profiting from changes in food prices. Food speculation can be both positive and negative for food producers and buyers. is betting on food prices (unregulated) financial markets. Food speculation by global players like banks, hedge funds or pension funds is alleged to cause price swings in staple foods such as wheat, maize and soy – even though too large price swings in an idealized economy are theoretically ruled out: Adam Smith in 1776 reasoned that the only way to make money from commodities trading is by buying low and selling high, which has the effect of smoothing out price swings and mitigating shortages. For the actors, the apparently random swings are predictable, which means potential huge profits. For the global poor, food speculation and resulting price peaks may result in increased poverty or even famine.
Food prices refer to the average price level for food across countries, regions and on a global scale. Food prices affect producers and consumers of food.
A worldwide increase in inflation began in mid-2021, with many countries seeing their highest inflation rates in decades. It has been attributed to various causes, including pandemic-related economic dislocation; the fiscal and monetary stimuli provided in 2020 and 2021 by governments and central banks around the world in response to the pandemic were also instrumental. Unexpected recovery in demand through 2021 ultimately led to historic and broad supply shortages amid increasing consumer demand. Worldwide construction sectors were also hit.
2022 saw a rapid increase in food prices and shortages of food supplies around the world. The compounding crises in distinct parts of the world were caused by compounding geopolitical and economic crisis. The crises followed food security and economic crises during the COVID-19 pandemic.
The 2020s commodities boom refers to the rise of many commodity prices in the early 2020s following the COVID-19 pandemic. The COVID-19 recession initially made commodity prices drop, but lockdowns, supply chain bottlenecks, and dovish monetary policy limited supply and created excess demand causing a commodity super cycle rise.
References
- ↑ Hayes, Adam (December 17, 2020). "Agflation". Investopedia . Retrieved 21 June 2021.
- ↑ Encyclopedia Paranoiaca. Simon and Schuster. 2012-11-20. p. 4. ISBN 978-1-4391-9955-8 . Retrieved 23 June 2021.
- ↑ Rabinovitch, Simon (2007-05-14). ""Agflation" takes root in world prices" (in Chinese). Reuters . Retrieved 21 June 2021.
- ↑ Canuto, Otaviano. "Global Agflation, Energy Security and Bio-fuels". Economic News, Analysis, and Discussion. thestreet.com . Retrieved 21 June 2021.
- 1 2 3 4 5 Islam, M. Shahidul. "Of Agflation and Agriculture: Time to Fix the Structural Problems" (PDF). National University of Singapore . Retrieved 23 June 2021.
- ↑ Takeuchi, Kazuhiko; Shiroyama, Hideaki; Saito, Osamu; Matsuura, Masahiro (2018-07-13). Biofuels and Sustainability: Holistic Perspectives for Policy-making. Springer. p. 13. ISBN 978-4-431-54895-9 . Retrieved 23 June 2021.
- ↑ Giordani, Paolo E.; Rocha, Nadia (April 2012). "Food Prices and the Multiplier Effect of Export Policy" (PDF). World Trade Organization . Retrieved 23 June 2021.
- ↑ Espitia, Alvaro; Rocha, Nadia; Ruta, Michele (May 2020). "Covid-19 and Food Protectionism: The Impact of the Pandemic and Export Restrictions on World Food Markets" (PDF). World Bank. p. 1. Retrieved 23 June 2021.
| Major topics | |
|---|---|
| Biological and related topics | |
| Society and population | |
| Publications | |
| Lists | |
Events and organizations |
|
| Related topics | |
