The Terms of Trade of Agriculture in Context of Economic Growth

Yair Mundlak

Chapter Chapter 29 in Economic Problems of Agriculture in Industrial Societies, 1969, pp 634-663 from Palgrave Macmillan

Abstract: Abstract In a competitive economy, where the value marginal productivities of the factors of production are equal in all sectors, the terms of trade of one sector are meaningfully measured by the rent realized by factors specific to this sector. If there are no specific factors, there is no problem of terms of trade.

Keywords: Technical Change; Agricultural Development; Growth Theory; Conceptual Problem; Trade Theory (search for similar items in EconPapers)
Date: 1969
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-08476-0_29

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DOI: 10.1007/978-1-349-08476-0_29

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