Comments on Montague J. Lord's “distributional effects of international commodity price stabilization: Do the aggregate gains apply to individual producing countries?” [JPM 3:61–75 (1981)]

Lord discusses the impact of international commodity price stabilization on Latin American producing country export revenues. He correctly emphasizes that the directions and magnitudes of such effects may vary substantially across producers, depending on the degree of segmentation of the commodity markets and the nature and distribution of the shocks. However his potential contribution may be lost because of a number of inaccuracies, which I discuss under three general topics.