Hausmann, Ricardo (contributor); Klinger, Bailey (contributor) - 2008
output during the following three years.
What caused this export collapse? It was first and foremost a terms of trade … damage to the political and
financial systems. The following figure showing Peru’s terms of trade also shows the
dramatic … collapse in the terms of trade of Peru after the East Asian crisis, which
6
corresponds to an ‘interruption’ of Peru …