ECONOMIC EFFECTS OF HIGHER OIL PRICES ON THE TERMS OF TRADE AND GROWTH IN DEVELOPING COUNTRIES

Ejiguo Demissie and Dean F. Schreiner

No 279173, 1982 Annual Meeting, August 1-4, Logan, Utah from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: This study examines the movement in the terms of trade and its subsequent effect on economic growth of a sample of non-oil developing countries for the period of 1960 to 1979. Results indicate that the terms of trade have declined significantly in the 1970's. Export and import price index equations were estimated to determine importance of world commodity prices in explaining movements in terms of trade. Results indicate that higher oil prices in the 1970's caused significant deterioration in the terms of trade for the sample of non-oil developing countries.

Keywords: Demand and Price Analysis; International Development; International Relations/Trade (search for similar items in EconPapers)
Pages: 16
Date: 1982-08
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea82:279173

DOI: 10.22004/ag.econ.279173

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