Wednesday, 22 August 2012

When economies are commodity-intensive

Estimating this more formally in a recent report, we find that an economy’s growth typically becomes more ‘commodity intensive’ when it reaches per capita GDP of around $3,000 (in constant purchasing power parity 2011 dollars). At that point demand for commodities typically takes off. Conversely, we find that commodity demand tapers when economies reach per capita GDP of around $20,000.

- From the excellent blog beyondbrics in the Financial Times

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