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The 2010s have been a dramatic period for most primary commodity markets. Producers suffered heavily as prices fell in response to new supply facilities going into production, juxtaposed against disappointing demand evolution from China in particular, marking the end of the most powerful and enduring commodity boom since the Second World War. This book is a guide to the primary commodity universe, an increasingly crucial part of the world economy. In this updated edition, Marian Radetzki and Linda Wårell introduce and explain pertinent issues surrounding international commodity markets, including the importance of fossil markets among commodities, price formation, price trends, the shift in primary commodity consumption towards Asia, the increasing reliance on commodity exchanges, new relaxed attitude towards depletion, cartel action, and the revival of nationalism and state ownership. This is an accessible read for graduates, academic researchers, and professionals in the mineral and energy sectors.

Primary commodities. --- Primary commodities --- Commercial policy. --- Foreign trade policy --- International trade --- International trade policy --- Trade policy --- Economic policy --- International economic relations --- Basic commodities --- Commodities, Basic --- Commodities, Primary --- Primary products --- Commercial products --- Prices. --- Government policy

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This paper investigates the effect of timeliness in accessing the intermediate inputs on the trade pattern. In particular, any country that has a higher ability to transport goods on time has a comparative advantage in industries that place a higher value on the timely delivery of their inputs, and this comparative advantage pattern is stronger for processed goods than for primary goods. To do this, a measure for how intensively any industry demands for the timely delivery of its intermediate inputs is constructed combining Hummels and Schaur (2013)’s calculations of the time sensitivity of products with the input-output tables.

Primary commodities. --- Basic commodities --- Commodities, Basic --- Commodities, Primary --- Primary products --- Commercial products --- Primary commodities --- E-books --- Exports and Imports --- Infrastructure --- Trade: General --- Trade Policy --- International Trade Organizations --- Empirical Studies of Trade --- Economic Development: Agriculture --- Natural Resources --- Energy --- Environment --- Other Primary Products --- Industrialization --- Manufacturing and Service Industries --- Choice of Technology --- Economic Development: Urban, Rural, Regional, and Transportation Analysis --- Housing --- Industry Studies: Transportation and Utilities: General --- Investment --- Capital --- Intangible Capital --- Capacity --- Neoclassical Models of Trade --- Macroeconomics --- International economics --- Transportation --- Exports --- Comparative advantage --- Trade balance --- National accounts --- International trade --- Saving and investment --- Balance of trade --- Nepal