Prebisch-Singer Hypothesis and Terms of Trade in New Century

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Prebisch and Singer found a fall in the prices of developing countries’ primary commodities relative to those of British manufactured goods. From their work three branches of literature emerged. First, a statistical debate did arise in regard to the question whether or not developing country’s terms of trade are really falling. Second, a series of theoretical models were developed in which terms of trade changes over time could be explained. Third, the policy consequences of falling terms of trade were discussed, mainly the question whether a fall in the terms of trade should lead to industrialization policies. Our paper teies to contribute to the first branch of literature.

The aim of the book is to cover the history of economic thought, the evidence and the theorizing of the Prebisch-Singer thesis.

ABOUT THE AUTHOR Rameshwar Tandon

Rameshwar Tandon works at the International Institute for Special Education, Lucknow. For the last three decades, he worked with Prof. VKRV Rao at the Institute for Social and Economic Change, Bangalore. He is author-editor of numerous books and articles, most recently, Exports and Development: The Indian Experience (jointly with Prof. Neelambar Hatti)

ABOUT THE AUTHOR Thomas Ziesemer

is Associate Professor of Economics at the Dept. of Economics of Maastricht University and Senior Researcher at UNU-MERIT. He studied economics at the universitiies of Kiel and Regensberg. He had his Dr degree from University of Regenberg and Habilitation from the Free University of Berlin.