The import and export price indices of an economy are usually compiled by some Laspeyres type index. It is well known that such an index formula is prone to substitution bias. Therefore, also the terms of trade (ratio of export and import price index) are likely to be distorted. The underlying...

This paper explores the impact of the terms of trade on output fluctuations in. - Colombia, a developing country where as much as 62% of export earnings come. - from just four commodities: oil (42%), coal (14%), coffee (5%), and nickel (1%). This. - research was prompted by: the particular role...

Governments across the globe are progressively becoming aware of the increasing significance of international migration and remittances on the international development agenda. Remittances are perceived as one of the key benefits that migration bring to originating countries. Zimbabweans abroad...