RECENT MOVEMENTS IN AGRICULTURE'S TERMS OF TRADE IN PAKISTAN

Stephen Jr
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Stephen Jr: Williams College, Williamstown, Massachusetts,U.S.A.

The Pakistan Development Review, 1970, vol. 10, issue 3, 381-392

Abstract: The purpose of this study is to add five years' data to a study undertaken some years ago by S. Mushtaq Hussain and myself [4]. The original study developed a fairly complete set of price weights and price indices for manufactured and agricultural commodities in Pakistan from 1951/52 to 1963/64, and analyzed the movements in the net barter terms of trade of the domestic, agricultural and manufacturing sectors. The results showed that the terms of trade had been turned against agriculture by the trade-restricting policies of the government in the early 1950's and that the subsequent relatively slow growth of agriculture and rapid growth of manufacturing had resulted in a movement of domestic relative prices more favourable to agriculture over the late 1950's and early 1960's.

Date: 1970
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