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英文文献：International Commodity Prices and Inflation Dynamics in Sierra Leone-国际商品价格和塞拉利昂的通货膨胀动态
英文文献作者：Jonathan D. Danladi
英文文献摘要：
This study examines the impact of international commodity price changes, measured in local currency, on consumer prices in Sierra Leone. Monthly data from January 2007 to August 2016 are used to examine the long-run relationship and the short-run dynamics. The study finds the dynamics of cocoa, oil and rice prices as significant determinants of domestic consumer prices both in the long-run and the short-run. Domestic consumer prices are shown to respond negatively to rising cocoa prices, one of the country’s major export commodities. The study suggests deliberate efforts on the part of authorities for the improvement and expansion of production base of the country’s export commodities such as cocoa and rice, which the country has comparative advantage, to reduce the pressure on the local currency and the prevalent upward trend of consumer prices. A diversified energy source and an active production sector can reduce the overdependence on oil and, ultimately, the direct pass-through of commodity price fluctuations to consumer prices in the economy.
这项研究考察了以当地货币衡量的国际商品价格变化对塞拉利昂消费价格的影响。从2007年1月到2016年8月的月度数据用于检验长期关系和短期动态。研究发现，无论是长期还是短期，可可、石油和大米价格的变动都是国内消费价格的重要决定因素。国内消费价格对作为该国主要出口商品之一的可可价格的上涨作出了不利的反应。这项研究表明，当局为改善和扩大该国具有相对优势的出口商品，如可可和大米的生产基础作出了深思熟虑的努力，以减轻对当地货币的压力和普遍的消费价格上升趋势。多样化的能源来源和活跃的生产部门可以减少对石油的过度依赖，并最终减少经济中商品价格波动对消费价格的直接影响。
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