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A Multi-Sectoral Analysis Of Terms Of Trade For India

Author

Listed:
  • Surajit Deb

    (Ram Lal Anand College (Evening), University of Delhi, Delhi, India.)

Abstract

Conventionally, the analysis of domestic terms of trade is accomplished within a dual economy framework, wherein its estimates are worked out by calculating the terms of trade between an "agriculture" and "industry" sector. However, since contemporary economies have undergone rapid structural transformation, which has seen the emergence of various services sectors, it has become vital to analyse shifts in terms of trade by exploiting a multi-sectoral framework. This paper provides terms of trade estimates for nine domestic sectors in India, during the period 1951-97. The results indicate that substantial terms of trade gains have accrued in various services sectors.

Suggested Citation

  • Surajit Deb, 2008. "A Multi-Sectoral Analysis Of Terms Of Trade For India," Indian Economic Review, Department of Economics, Delhi School of Economics, vol. 43(1), pages 47-68, July.
  • Handle: RePEc:dse:indecr:v:43:y:2008:i:1:p:47-68
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    More about this item

    Keywords

    Terms of Trade Measure; National Accounts; Service Sector;

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • Q11 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Aggregate Supply and Demand Analysis; Prices
    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements

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