This report presents the short- and long-run behavior of primary commodity prices and the implications of movements in these prices for developing countries. Most earlier studies of the long-term trend in the net barter terms of trade between primary commodities and manufactures have suffered...

Structural time series analysis, which requires no prior assumptions regarding stationarity and allows for a wide variety of behavior, reveals that the net barter terms of trade between primary commodities and manufactures has a negative deterministic trend over this century as hypothesized by...

The entire Bolivian tax system is in need of thoroughgoing reform. A series of ad hoc adjustments in the system over the years, primarily made in response to recurring short-run fiscal emergencies, has yielded a patchwork overall tax structure that is not only chronically unable to satisfy...