Commodities and Development

Global extraction, trade and consumption of natural resources have increased continuously over the past 30 years. At the same time, commodity prices experienced an exceptional price boom since 2003, followed by a sharp correction in 2014.

In this context, natural resources have become a key issue in international politics. Competition for access to and control of natural resources has intensified, and so have conflicts over the distribution of benefits as well as over negative environmental and social impacts of exploration and production. The access to natural resources has become a crucial issue in the international policy area, for instance in trade- and investment agreements. On an international level, a number of regulation initiatives have emerged, aiming for more transparency in this sector. The recent commodity price boom has fueled the debate about resource-based development which had been discarded for decades. As practical experience has shown, resource-rich countries have not been able to use their resource wealth neither for the benefit of the majority of their population, nor for sustainable economic development, diversification or poverty reduction. A controversial discussion has emerged about the interrelation of expanding financial markets and commodity price movements and the role of financial investors in that field. ÖFSE is engaged in three major issued concerning this commodities and development:

For more information contact:

Cornelia Staritz

Ms. Cornelia Staritz
Senior Researcher
Tel.: +43 1 317 40 10 – 116  
E-Mail: c.staritz@oefse.at
 
more information

Karin Küblböck

Ms. Karin Küblböck
Senior Researcher
Tel.: +43 1 317 40 10 – 111  
E-Mail: k.kueblboeck@oefse.at 
 
more information