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Endogenous Technical Progress and North-South Terms of Trade: Modelling the Ideas of Prebisch and Singer on the Lines of Kalecki-Kaldor

In: Development Economics and Policy

Author

Listed:
  • Prabirjit Sarkar

Abstract

Is there any secular decline in the terms of trade of the South vis-à-vis the North? Seeking an answer to this question has been an important subject matter of research in the field of Development Economics since the publication of two papers by Prebisch (1950) and Singer (1950). Many economists rejected the view of Prebisch and Singer that the terms of trade have a long-term tendency to turn against the South. They raised a number of statistical objections against the data base of the Prebisch-Singer hypothesis. However, Sarkar (1986a) refuted most of the points raised by the critics. There is strong statistical support for the Prebisch-Singer hypothesis (see Thirlwall and Bergarin, 1985; Sarkar, 1986a,b; 1994a; Sarkar and Singer, 1991; 1993).

Suggested Citation

  • Prabirjit Sarkar, 1998. "Endogenous Technical Progress and North-South Terms of Trade: Modelling the Ideas of Prebisch and Singer on the Lines of Kalecki-Kaldor," Palgrave Macmillan Books, in: David Sapsford & John-ren Chen (ed.), Development Economics and Policy, chapter 13, pages 249-257, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-26769-9_13
    DOI: 10.1007/978-1-349-26769-9_13
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