The terms of trade debate and the policy implications for primary product producers

John Tilton ()

Resources Policy, 2013, vol. 38, issue 2, 196-203

Abstract: The terms of trade debate initiated by Raul Prebisch and Hans Singer over 60 years ago continues to this day and is unlikely to be resolved soon. However, even if Prebisch and Singer are right and the terms of trade of countries exporting primary products are falling, to suggest that these countries should diversify away from the production of mineral commodities and other primary products, as many have done, may be poor policy advice, encouraging countries to abandon a promising source of wealth with which to foster economic development.

Keywords: Terms of trade debate; Prebisch Singer thesis; Resource curse; Natural resource wealth and economic development; Primary product prices and production costs (search for similar items in EconPapers)
JEL-codes: F13 L7 O24 (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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Working Paper: The Terms Of Trade Debate and the Policy Implications for Primary Product Producers (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:38:y:2013:i:2:p:196-203

DOI: 10.1016/j.resourpol.2012.12.001

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