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Domestic Terms of Trade and Agricultural Growth in Developing Countries

In: The Balance between Industry and Agriculture in Economic Development

Author

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  • Romeo M. Bautista

    (International Food Policy Research Institute)

Abstract

Writing twenty years ago, Raj Krishna (1967) made a distinction between negative agricultural price policy, in which ‘the terms of trade of agriculture are deliberately depressed’, and positive price policy ‘which attempts to improve or at least maintain the terms of trade of agriculture’. He also observed that ‘a negative agricultural price policy … has been a common feature of policy in the early phases of development in capitalist as well as socialist countries’, but that there were emerging signs of ‘a reluctant turn to a positive agricultural price policy’ as developing country planners saw agricultural output failing to grow at a rate necessary to achieve the desired growth of the national economy.

Suggested Citation

  • Romeo M. Bautista, 1989. "Domestic Terms of Trade and Agricultural Growth in Developing Countries," International Economic Association Series, in: Nurul Islam (ed.), The Balance between Industry and Agriculture in Economic Development, chapter 1, pages 17-38, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-10277-8_1
    DOI: 10.1007/978-1-349-10277-8_1
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    Cited by:

    1. Hazell, P. B. R. & Misra, V. N. & Hojjati, Behjat, 1995. "Role of terms of trade in Indian agricultural growth: a national and state level analysis," EPTD discussion papers 15, International Food Policy Research Institute (IFPRI).

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