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Trends in Relative World Market Prices

In: The Economics of Relative Prices

Author

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  • S. M. Nitikin

    (Institute of World Economy and International Relations)

Abstract

After 1973–4 the identification of trends, prospects and the actual changes in absolute and relative prices on world capitalist markets became one of the most acute problems of economic development.1 The stormy events of the 1970s on world markets for major raw materials, especially oil, were conditioned by the aggravation of energy, raw material and food problems and the spread of inflation to these markets. These events have drastically altered earlier price relationships and strengthened the spontaneous and unpredictable elements in the dynamics of world prices.

Suggested Citation

  • S. M. Nitikin, 1984. "Trends in Relative World Market Prices," International Economic Association Series, in: Béla Csikós-Nagy & Douglas Hague & Graham Hall (ed.), The Economics of Relative Prices, chapter 12, pages 285-299, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-06265-2_12
    DOI: 10.1007/978-1-349-06265-2_12
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