IDEAS home Printed from https://ideas.repec.org/a/ucp/ecdecc/y2006v54i3p635-54.html
   My bibliography  Save this article

The Terms of Trade between the United Kingdom and British India, 1858-1947

Author

Listed:
  • Appleyard, Dennis R

Abstract

The commodity terms of trade of the United Kingdom with British India for 1858-1947 are calculated. Unit value indexes for a sample containing over three-quarters of UK/India trade indicate a slight improvement for the United Kingdom from 1858 to 1917. This improvement was likely attributable to falling transport costs for British imports and was therefore not associated with a decline in India's terms of trade with Britain. For 1917-47, there was substantial UK terms-of-trade improvement, a rise not due solely to declining transport costs and which, ceteris paribus, thus implied that India's terms of trade with the United Kingdom deteriorated. The 1917-47 UK improvement brought the amount of increase for the whole 1858-1947 period to an annual average of almost 1%.

Suggested Citation

  • Appleyard, Dennis R, 2006. "The Terms of Trade between the United Kingdom and British India, 1858-1947," Economic Development and Cultural Change, University of Chicago Press, vol. 54(3), pages 635-654, April.
  • Handle: RePEc:ucp:ecdecc:y:2006:v:54:i:3:p:635-54
    as

    Download full text from publisher

    File URL: http://dx.doi.org/10.1086/500031
    Download Restriction: Access to the online full text or PDF requires a subscription.

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Bloch, Harry & Sapsford, David, 2000. "Whither the Terms of Trade? An Elaboration of the Prebisch-Singer Hypothesis," Cambridge Journal of Economics, Oxford University Press, vol. 24(4), pages 461-481, July.
    2. Roy, Tirthankar, 2011. "Economic History of India, 1857-1947," OUP Catalogue, Oxford University Press, edition 3, number 9780198074175.
    3. Hadass, Yael S & Williamson, Jeffrey G, 2003. "Terms-of-Trade Shocks and Economic Performance, 1870-1940: Prebisch and Singer Revisited," Economic Development and Cultural Change, University of Chicago Press, vol. 51(3), pages 629-656, April.
    4. Ardeni, Pier Giorgio & Wright, Brian, 1992. "The Prebisch-Singer Hypothesis: A Reappraisal Independent of Stationarity Hypotheses," Economic Journal, Royal Economic Society, vol. 102(413), pages 803-812, July.
    5. Romer, Paul, 1994. "New goods, old theory, and the welfare costs of trade restrictions," Journal of Development Economics, Elsevier, vol. 43(1), pages 5-38, February.
    6. Spraos, John, 1980. "The Statistical Debate on the Net Barter Terms of Trade between Primary Commodities and Manufactures," Economic Journal, Royal Economic Society, vol. 90(357), pages 107-128, March.
    7. Robert E. Lipsey, 1963. "Introduction to "Price and Quantity Trends in the Foreign Trade of the United States"," NBER Chapters,in: Price and Quantity Trends in the Foreign Trade of the United States, pages 3-7 National Bureau of Economic Research, Inc.
    8. William J. Hausman, 1993. "Freight rates and shipping costs in the English coastal coal trade: a reply," Economic History Review, Economic History Society, vol. 46(3), pages 610-612, August.
    9. G. Balachandran, 1993. "Britain's liquidity crisis and India, 1919-1920," Economic History Review, Economic History Society, vol. 46(3), pages 575-591, August.
    10. Robert E. Lipsey, 1963. "Price and Quantity Trends in the Foreign Trade of the United States," NBER Books, National Bureau of Economic Research, Inc, number lips63-1, January.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ghoshray, Atanu, 2015. "A robust estimation of the terms of trade between the United Kingdom and British India, 1858–1947," Economic Modelling, Elsevier, vol. 51(C), pages 53-57.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ucp:ecdecc:y:2006:v:54:i:3:p:635-54. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Journals Division). General contact details of provider: http://www.journals.uchicago.edu/EDCC/ .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.