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A Prebisch-Singer Growth Model and the Debt Crises

In: Development Economics and Policy

Author

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  • Thomas Ziesemer

Abstract

This chapter serves two purposes. Firstly, it tries to capture ideas of Prebisch and Singer on long-run growth. Prebisch (1950, 1959) and Singer (1950, 1958 and 1991) have repeatedly emphasized that developing countries are importers of capital goods. Imported capital goods have to be paid for by exports, either when imported or later, incurring debt in the meantime. If export demand is not unlimited once the small country assumption is dropped, then the customer countries’ income, income and price elasticities of export demand matter in the determination of long-run growth rates and the terms of trade.

Suggested Citation

  • Thomas Ziesemer, 1998. "A Prebisch-Singer Growth Model and the Debt Crises," Palgrave Macmillan Books, in: David Sapsford & John-ren Chen (ed.), Development Economics and Policy, chapter 16, pages 300-317, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-26769-9_16
    DOI: 10.1007/978-1-349-26769-9_16
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    Citations

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    Cited by:

    1. Thomas H. W. Ziesemer, 2023. "Semi-endogenous growth in a non-Walrasian DSEM for Brazil: estimation and simulation of changes in foreign income, human capital, R&D, and terms of trade," Economic Change and Restructuring, Springer, vol. 56(2), pages 1147-1183, April.
    2. Ziesemer, Thomas, 2007. "Estimations of US debt dynamics: Growth cum debt and the savings glut in Kouri’s model," MERIT Working Papers 2007-003, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    3. Thomas Ziesemer, 1999. "Long-Run Aspects of the Asian Debt Crisis," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 68(1), pages 94-102.
    4. Thomas Ziesemer, 2018. "Testing the Growth Links of Emerging Economies: Croatia in a Growing World Economy," Bulletin of Applied Economics, Risk Market Journals, vol. 5(1), pages 1-27.

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