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    Growth, commodity prices, inflation and the distribution of income

    20464_downloaded_stream_452.pdf (460.4Kb)
    Access Status
    Open access
    Authors
    Bloch, Harry
    Date
    2005
    Type
    Working Paper
    
    Metadata
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    Citation
    Bloch, Harry (2005) Growth, commodity prices, inflation and the distribution of income, School of Economics and Finance Working Paper Series: no. 05:10, Curtin University of Technology, School of Economics and Finance.
    School
    School of Economics and Finance
    URI
    http://hdl.handle.net/20.500.11937/32096
    Collection
    • Curtin Research Publications
    Abstract

    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.

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