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dc.contributor.authorBloch, Harry
dc.contributor.authorSapsford, D.
dc.date.accessioned2017-01-30T15:32:52Z
dc.date.available2017-01-30T15:32:52Z
dc.date.created2009-03-05T00:54:52Z
dc.date.issued2000
dc.identifier.citationBloch, Harry and Sapsford, David. 2000. Whither the terms of trade? an elaboration of the Prebisch-Singer hypothesis. Cambridge Journal of Economics. 24 (4): pp. 461-481.
dc.identifier.urihttp://hdl.handle.net/20.500.11937/47361
dc.identifier.doi10.1093/cje/24.4.461
dc.description.abstract

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 primary production are treated as competitively determined, while prices and wages in manufacturing are determined by mark-up pricing and union-employer bargaining, respectively. The objective is to capture the influence of structural differences between manufacturing and primary production on the terms of trade between industrialised and developing worlds as discussed in the seminal contributions to the development literature by Raul Prebisch and Hans Singer. The model is estimated using price and wage data from the post-World War II period. Support is found for the Prebisch-Singer hypothesis; however, our estimates suggest that, during periods of particularly rapid manufacturing growth, there have been intervals of net improvement in the terms of trade of primary producers.

dc.publisherOxford University Press
dc.titleWhither the terms of trade? an elaboration of the Prebisch-Singer hypothesis
dc.typeJournal Article
dcterms.source.volume24
dcterms.source.number4
dcterms.source.startPage461
dcterms.source.endPage481
dcterms.source.issn0309166X
dcterms.source.titleCambridge Journal of Economics
curtin.note

The definitive publisher-authenticated version has been published in Cambridge Journal of Economics, Vol. 24, No. 4, pp. 461-481, July 2000; and is available online at: http://cje.oxfordjournals.org/cgi/content/abstract/24/4/461

curtin.note

Copyright © 2000 Cambridge Political Economy Society

curtin.accessStatusFulltext not available
curtin.facultyCurtin Business School
curtin.facultySchool of Economics and Finance


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