About long-term trends in primary commodities’ prices: overview of researches

Iuliia A. Polshchikova ()
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Iuliia A. Polshchikova: Centre of macroeconomic research of Financial research institute of the Ministry of finance of Russian

Economic Consultant, 2019, vol. 28, issue 4, 95-99

Abstract: One of the most disputable questions of modern economics is question referring to long-term primary commodity prices’ dynamics. According to Prebisch-Singer hypothesis that was formulated at the beginning of 1950 year, primary commodity prices have to be decreasing that cause negative consequences for commodities exports-dependent countries. The hypothesis has been tested through available data set repeatedly. The main contribution goes to the fact that despite Prebisch-Singer hypothesis cannot be considered as universal it is true for prevalent numbers of primary commodities. Therefore, countries that have primary commodities as significant part of their exports can be required to act in the side of speedy economic industrialization.

Keywords: trends; cycles; primary commodities; Prebisch-Singer hypothesis; terms of trade (search for similar items in EconPapers)
JEL-codes: R29 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:ris:statec:0033

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