Commodity terms of trade and individual countries' net barter terms of trade: Is there an empirical relationship?

Matthias Lutz

Journal of International Development, 1999, vol. 11, issue 6, 859-870

Abstract: This paper examines the statistical relationship between aggregate commodity terms of trade and the net barter terms of trade of 66 non-oil developing countries. Stationarity of the estimated long-run equation is tested for each country using Engle-Granger ADF tests. Four different commodity terms of trade series are examined. For more than half the sample a stationary long-run relationship is detected. The responsiveness of the country terms of trade to the overall index varies considerably between countries. These findings suggest that the long-term trend in the overall terms of trade is still relevant to developing countries today. Copyright © 1999 John Wiley & Sons, Ltd.

Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:wly:jintdv:v:11:y:1999:i:6:p:859-870

DOI: 10.1002/(SICI)1099-1328(199909/10)11:6<859::AID-JID632>3.0.CO;2-H

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