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Review of Radical Political Economics
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Trends in Developing Countries’ Commodity Terms-of-Trade since 1970

Rati Ram

Economics Department, Illinois State University, Normal, IL 61790-4200, USA

Trends in commodity terms-of-trade since 1970 are estimated for a sizable sample of countries. The predominant pattern for developing countries is that of negative trends, but there is some improvement since 1980, and an increase in the share of manufactures in exports appears helpful. The estimates seem generally supportive of the spirit of Prebisch-Singer hypothesis. Establishment of an international organization to generate and disseminate technology for developing countries might mitigate their disadvantage in international exchange.

Key Words: terms-of-trade • Prebisch-Singer hypothesis • developing countries

Review of Radical Political Economics, Vol. 36, No. 2, 241-253 (2004)
DOI: 10.1177/0486613404264044
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