Growth, commodity prices, inflation and the distribution of income
MetadataShow full item record
Prebisch (1950) and Singer (1950) argue that the structure of the world economy leads to long-run deterioration in the net barter terms of trade for primary commodity producers in developing countries in their trade with manufacturers in industrialized countries. The ?Prebisch-Singer hypothesis? is based on the differential trading position of primary producers and manufacturers, especially the greater market power of manufacturers and unions representing industrial workers as compared to primary producers and their workers. This differential trading position gives rise to an increasing disparity in relative incomes favouring workers and firms engaged in manufacturing in the industrialized countries at the expense of workers and firms in primary production in developing countries.
Showing items related by title, author, creator and subject.
Rock, Marilyn I. (2002)After gaining independence from Pakistan in 1971, the Bangladesh state moved from a mainly state-managed sector to a privatised one based on export-oriented industrialisation. Under this policy, the production of garments ...
Zhou, Yixiao; Bloch, Harry (2019)We examine differences in wage rates across countries for workers employed in the same industry, distinguishing workers in the low, medium and high-skill groups. These differences are large and show persistence over time. ...
Bloch, Harry; Sapsford, D. (2000)Movements in the prices of primary products and manufactured goods are analysed using a model that introduces differences in wage and price determination between primary production and manufacturing. Wages and prices in ...