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Prebisch and Singer Effects on the Terms of Trade between Primary Producers and Manufacturers

In: Development Economics and Policy

Author

Listed:
  • Harry Bloch
  • David Sapsford

Abstract

Papers by Prebisch (1950) and Singer (1950) argue that there is a secular decline in the terms of trade for developing countries in their dealings with the industrialized countries. Both Prebisch and Singer observe that exports from the developing countries are dominated by primary products, while imports are dominated by manufactured goods. They then associate the adverse change in terms of trade for developing countries with the decline in the price of primary products relative to the price of manufactures.

Suggested Citation

  • Harry Bloch & David Sapsford, 1998. "Prebisch and Singer Effects on the Terms of Trade between Primary Producers and Manufacturers," Palgrave Macmillan Books, in: David Sapsford & John-ren Chen (ed.), Development Economics and Policy, chapter 4, pages 35-62, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-26769-9_4
    DOI: 10.1007/978-1-349-26769-9_4
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    Citations

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    Cited by:

    1. John T. Cuddington & Rodney Ludema & Shamila A Jayasuriya, 2002. "Prebisch-Singer Redux," Working Papers Central Bank of Chile 140, Central Bank of Chile.
      • Cuddington, John T. & Ludema, Rodney & Jayasuriya, Shamila A, 2002. "Prebisch-Singer Redux," Working Papers 15857, United States International Trade Commission, Office of Economics.
    2. Bianchi, Ana Maria, 2002. "For Different Audiences, Different Arguments: Economic Rhetoric at the Beginning of the Latin American School," Journal of the History of Economic Thought, Cambridge University Press, vol. 24(3), pages 291-305, September.
    3. Surajit Deb, 2003. "Terms of Trade and Supply Response of Indian Agriculture: Analysis in Cointegration Framework," Working papers 115, Centre for Development Economics, Delhi School of Economics.
    4. Tilton, John E., 2013. "The terms of trade debate and the policy implications for primary product producers," Resources Policy, Elsevier, vol. 38(2), pages 196-203.
    5. Konstantin M. Wacker, 2011. "The Impact of Foreign Direct Investment on Developing Countries’ Terms of Trade," WIDER Working Paper Series 006, World Institute for Development Economic Research (UNU-WIDER).
    6. John-ren Chen, 1999. "The sources of trend and fluctuations of commodity prices," Journal of International Development, John Wiley & Sons, Ltd., vol. 11(6), pages 871-892.
    7. Ana Maria Bianchi & Cleofas Salviano, 1999. "Raúl Prebisch and the beginnings of the Latin American school of economics: a rhetorical perspective," Journal of Economic Methodology, Taylor & Francis Journals, vol. 6(3), pages 423-438.
    8. Konstantin M. Wacker, 2011. "The Impact of Foreign Direct Investment on Developing Countries' Terms of Trade," WIDER Working Paper Series wp-2011-006, World Institute for Development Economic Research (UNU-WIDER).
    9. Bloch, Harry & Sapsford, David, 1997. "Some estimates of Prebisch and Singer effects on the terms of trade between primary producers and manufacturers," World Development, Elsevier, vol. 25(11), pages 1873-1884, November.

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