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The Prebisch-Singer Hypothesis Revisited

In: Development Economics and Policy

Author

Listed:
  • Alfred Maizels
  • Theodosios B. Palaskas
  • Trevor Crowe

Abstract

Since the seminal contributions of Raúl Prebisch (1950) and Hans Singer (1950) on the tendency of the terms of trade of developing countries with developed countries to deteriorate over the long term, the ensuing debate on this issue has focused, until quite recently, on the evidence provided by the relative movements in the price of non-oil commodities and the unit value of manufactures exported by the developed countries. This was understandable and, indeed, entirely relevant since the greater part of the merchandise trade between these two groups of countries before the oil price increases of the 1970s had consisted of a ‘vertical’ exchange of non-oil primary commodities from developing countries for manufactured goods from developed countries.

Suggested Citation

  • Alfred Maizels & Theodosios B. Palaskas & Trevor Crowe, 1998. "The Prebisch-Singer Hypothesis Revisited," Palgrave Macmillan Books, in: David Sapsford & John-ren Chen (ed.), Development Economics and Policy, chapter 5, pages 63-85, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-26769-9_5
    DOI: 10.1007/978-1-349-26769-9_5
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    Citations

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    Cited by:

    1. Jörg Mayer, 2002. "The Fallacy of Composition: A Review of the Literature," The World Economy, Wiley Blackwell, vol. 25(6), pages 875-894, June.
    2. Shouvik Chakraborty, 2012. "Is Export Expansion of Manufactured Goods an Escape Route from Terms of Trade Deterioration of Developing Countries?," Journal of South Asian Development, , vol. 7(2), pages 81-108, October.
    3. Mai, Yin Hua & Adams, Philip & Dixon, Peter & Menon, Jayant, 2010. "The Awakening Chinese Economy: Macro and Terms of Trade Impacts on 10 Major Asia-Pacific Countries," Working Papers on Regional Economic Integration 66, Asian Development Bank.
    4. Ghoshray, Atanu & Kejriwal, Mohitosh & Wohar, Mark E., 2011. "Breaking Trends and the Prebisch-Singer Hypothesis: A Further Investigation," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 120387, European Association of Agricultural Economists.
    5. Mahdi Ghodsi & Robert Stehrer, 2020. "Avoiding and escaping the 'commodity trap' in development," Global Business and Economics Review, Inderscience Enterprises Ltd, vol. 23(2), pages 187-211.
    6. Surajit Deb, 2003. "Terms of Trade and Supply Response of Indian Agriculture: Analysis in Cointegration Framework," Working papers 115, Centre for Development Economics, Delhi School of Economics.
    7. Jerzy Dudzinski & Renata Knap, 2021. "New Phenomena in the Price Movement of Manufactured Goods in Contemporary International Trade," European Research Studies Journal, European Research Studies Journal, vol. 0(2), pages 1047-1056.
    8. José Antonio Ocampo & María Angela Parra, 2004. "The commodity terms of trade and their strategic implications for development," International Trade 0403001, University Library of Munich, Germany.
    9. Salvador Peniche Camps & Charles A. S. Hall & Kent Klitgaard, 2020. "Biophysical Economics for Policy and Teaching: Mexico as an Example," Sustainability, MDPI, vol. 12(7), pages 1-20, March.

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