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Trends, cycles and asymmetries in the terms of trade of primary commodities from developed and less developed countries

Thirlwall, A.P., Bergevin, J. (1985) Trends, cycles and asymmetries in the terms of trade of primary commodities from developed and less developed countries. World Development, 13 (7). pp. 805-817. ISSN 0305-750X. (doi:10.1016/0305-750X(85)90109-3) (The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided) (KAR id:60474)

The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided. (Contact us about this Publication)
Official URL
http://dx.doi.org/10.1016/0305-750X(85)90109-3

Abstract

The paper examines the Prebisch hypothesis that primary product prices relative to the price of manufacturers fall during cyclical downturns by more than they rise during cyclical upturns and that this is an independent explanation of the secular tendency of the net barter terms of trade to move against primary commodities. An important distinction is made between primary products exported by less developed countries and those exported by developed countries. The greater cyclicality of primary product prices, and the long-run deterioration in their terms of trade since 1954 are confirmed, but there is little support for the Prebisch thesis that primary product prices relative to manufacturers are move sensitive on the downswing than the upswing.

Item Type: Article
DOI/Identification number: 10.1016/0305-750X(85)90109-3
Additional information: Unmapped bibliographic data: LA - English [Field not mapped to EPrints] J2 - World Dev. [Field not mapped to EPrints] AD - University of Kent, Canterbury, United Kingdom [Field not mapped to EPrints] DB - Scopus [Field not mapped to EPrints] M3 - Article [Field not mapped to EPrints]
Divisions: Faculties > Social Sciences > School of Economics
Depositing User: Anthony Thirlwall
Date Deposited: 22 Feb 2017 14:26 UTC
Last Modified: 08 Feb 2020 04:09 UTC
Resource URI: https://kar.kent.ac.uk/id/eprint/60474 (The current URI for this page, for reference purposes)
Thirlwall, A.P.: https://orcid.org/0000-0002-1661-2218
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