On the Deterioration of the Net Barter Terms of Trade for Primary Commodities
AbstractThis paper is divided into two parts. The first part reviews the theoretical arguments that have surrounded the issue of the deterioration in the terms of trade since the 1950s. The second part reviews critically some of the most important methods used to test the hypothesis of deterioration in the terms of trade for primary commodities. New tests for the periods 1948-1989 and 1921-1986 are presented. The results support the hypothesis that there is a long-term deterioration in the terms of trade for primary commodities.
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Bibliographic InfoPaper provided by Datamétrica Consultoria Econômica in its series Working Papers with number 46.
Length: 30 pages
Date of creation: 1992
Date of revision: 1992
Publication status: Published in Revista Brasileira de Econometria, Unctad Review and New World Order Series: Export-Led Versus Balanced Growth in the 1990s.
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Terms of Trade; Primary Commodities; Long Term Trend;
Find related papers by JEL classification:
- O19 - Economic Development, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
- F14 - International Economics - - Trade - - - Empirical Studies of Trade
- F15 - International Economics - - Trade - - - Economic Integration
- F19 - International Economics - - Trade - - - Other
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