Reconsideration of the Prebisch-Singer Hypothesis

  • In this paper, the long-term price developments as well as the primary commodity terms of trade of the most important primary commodities are presented, together with the underlying reasons for these trends. It is discussed if the observed trends can provide a confirmation of the Prebisch-Singer Hypothesis. Thereafter, the terms of trade of selected EU member countries are shown and the presumption is made, that the idea of the Prebisch-Singer Hypothesis can be used for the explanation of the diverging terms of trade development of industrialized countries with different export structures. A possible cause lies in the differing specialization in specific export sectors of these countries and the corresponding price developments of the exported goods.

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Author: Ewa Anna Witkowska
URL:http://www.paecon.net/PAEReview/issue76/Witkowska76.pdf
Title of the source (English):Real-world economics review
Document Type:Scientific journal article peer-reviewed
Language:English
Year of publication:2016
Tag:commodity prices; international trade; terms of trade
Volume/Year:76
First Page:95
Last Page:108
Faculty/Chair:Fakultät 5 Wirtschaft, Recht und Gesellschaft / FG ABWL, insbesondere Investition und Finanzierung
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