A robust estimation of the terms of trade between the United Kingdom and British India, 1858–1947

Atanu Ghoshray

Economic Modelling, 2015, vol. 51, issue C, 53-57

Abstract: This paper conducts a robust estimation of terms of trade between United Kingdom and British India over the period 1858 to 1947. The trend estimate of the terms of trade is measured using a novel econometric method due to Perron and Yabu (2009a) that is robust to the presence or absence of a unit root in the data. A further novel econometric procedure due to Perron and Yabu (2009b) for detecting a structural break is carried out allowing one to be completely agnostic to the underlying order of integration of the data. Taking into account transportation costs during this period, we conclude that there is no clear evidence whether the terms of trade improved for the United Kingdom with British India during the period considered.

Keywords: Trends; Terms of trade; Integrated process; Structural break; Price indices (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0264999315002060
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:51:y:2015:i:c:p:53-57

DOI: 10.1016/j.econmod.2015.08.002

Access Statistics for this article

Economic Modelling is currently edited by S. Hall and P. Pauly

More articles in Economic Modelling from Elsevier
Bibliographic data for series maintained by Catherine Liu ().