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dc.contributor.authorBloch, Harry
dc.contributor.authorSapsford, D.
dc.contributor.editorProfessor Prema-Chandra Athukorala
dc.date.accessioned2017-01-30T11:28:01Z
dc.date.available2017-01-30T11:28:01Z
dc.date.created2009-11-24T20:01:42Z
dc.date.issued2009
dc.identifier.citationBloch, Harry and Sapsford, David. 2009. Terms of trade movements and the global economic crisis: Implications for the Asia-Pacific region, in Professor Prema-Chandra Athukorala (ed), ARC Asia Pacific futures research network - 2009 signature event, Nov 19 2009.The Australian National University, Canberra, Australia: The Australian National University
dc.identifier.urihttp://hdl.handle.net/20.500.11937/11983
dc.description.abstract

Dramatic changes in the relative prices of goods in international trade have accompanied, and indeed preceded, the global crisis. These changes are reflected in the terms of trade ofindividual countries and in the relative prices of goods within those countries. Asia-Pacific countries are particularly affected by the changes in relative prices as they have been at the core of the increasing globalisation of production and distribution systems. An analysis of the causes and effects of the relative price changes is developed based on applying the analysisof business cycles developed by Joseph Schumpeter. Schumpeter's analysis emphasises innovation and structural change, particularly creative destruction, which impart uneven development on the economy and can foster financial crises. By applying Schumpeter's analysis the current crisis is put in the context of long-wave development of the capitalist system, which leads to predictions about the likely path of price and output changes over the medium term of the next decade or two.

dc.publisherThe Australian National University
dc.subjectglobal economic crisis
dc.subjectbusiness cycles
dc.subjectSchumpeter
dc.subjectprimary commodity prices
dc.subjectTerms of trade
dc.titleTerms of trade movements and the global economic crisis: Implications for the Asia-Pacific region
dc.typeConference Paper
dcterms.source.titleTrade and industry in Asia Pacific: History trends and prospects
dcterms.source.seriesTrade and industry in Asia Pacific: History trends and prospects
dcterms.source.conferenceARC Asia Pacific futures research network - 2009 signature event
dcterms.source.conference-start-dateNov 19 2009
dcterms.source.conferencelocationThe Australian National University, Canberra, Australia
dcterms.source.placeCanberra, Australia
curtin.accessStatusOpen access
curtin.facultyCurtin Business School
curtin.facultySchool of Economics and Finance


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