Workshop on Commodity Price Volatility and Sustainable Development Goals

A major economic issue for developing countries is the heavy concentration of their exports in primary goods (that is, crude oil, coal, copper or iron ore, rough diamonds, and agricultural products such as wheat, coffee beans and cotton). Being destined for exports, these goods are not transformed into finished goods internally, thereby representing a great economic loss for these developing countries. Instead, these primary goods are transformed into finished goods in developed economies, and then exported back to developing countries. An obvious question is why are these primary goods not transformed into finished goods in their country of origin, and then exported as finished goods, at a much greater economic benefit.

UNCTAD’s Trade and Development Report (2023) states that the global economy is stalling even as inequality is widening. The global trend of excessive volatility in commodity prices have contributed to the ongoing increase in interest rates to combat inflation, weakening the currencies and slowing export growth in Commodity-Dependent Countries (CDCs). These trends are particularly detrimental to growth for any country, especially developing countries. As a result, it has reduced the prospect of meeting the Sustainable Development Goals (SDGs) by 2030. These goals are particular difficult for CDCs, which are on the receiving end of widened inequality.

Against this background, the Workshop on Commodity Price Volatility and Sustainable Development Goals attempts to bring together academics and policymakers to discuss the problems (and possible solutions) of excessive volatility in commodity prices and how they deter the achievement of sustainable development in CDCs. This workshop will take place at the United Nations Headquarters, in New York, on October 31st. Some confirmed speakers are Joseph Stiglitz, José Antonio Ocampo, Ryan Isakson, Jacob Assa and Aleksandr Gevorkyan.

These issues will be discussed in a smaller group format in our YSI pre-event, to take place at the INET office the day before the workshop (speakers to be confirmed soon).

We will select up to 8 young scholars to receive accommodation (2 nights in a shared hotel room) and partial travel stipends to attend both the pre-event and the workshop.

All applicants must fill this application form by August 30th. Decisions will be made by September 5th.

Questions regarding this event may be sent to the organizers through the following emails: sylviokappes@gmail.com and sarahrnp@gmail.com.