This study observed rapidly rising shares of manufactured and electronic goods in Korea's total exports and a trend decline in Korea's terms of trade over the period of this study (1967-2001), in accordance with the Prebisch-Singer hypothesis. Contrary to the expectation of Prebisch, the...

Trade Liberalisation in developing countries over the last 20 years has often been implemented considering it as a pre-requisite to growth. This paper uses ARDL approach to cointegration and examines the relationships between growth and trade liberalisation in the context of India and Korea....

In the 'stagnationist' macroeconomics, the long-term problem of growth and distribution has been discussed in a short-period Kaleckian framework which abstracts from labour market-output market interaction to determine real wages. However, even in this framework, one can challenge the...

In the perspective of substantial amount of net transfers from the debtor less developed countries (LDCs) to the creditor developed countries (DCs) in the recent debt crisis years, there is a renewed debate (that started in the context of German reparation payments after the First World War) on...

Industrial revolution in the West was followed by a major decline in artisan activities in the colonies and semi-colonies in the East.This is known as de-industrialisation. This paper develops a two-sector neo-Ricardian framework to stylize the functioning of a pre-capitalist economy in those...

During the last 40 years since the Prebisch-Singer terms of trade deterioration hypothesis was first proposed, the commodity composition of exports of developing countries has undergone a major change in the direction of dominance of manufactures in their nonfuel exports, with strong growth in...

This paper extends recent works on the relationship between the distribution of income and growth in demand-constrained industrial economies in a two-sector framework incorporating the industry-agriculture demand linkages typical of many LDCs. It argues that the issue of income distribution...

The statistical objections raised against the Singer-Prebisch thesis regarding the secular decline in the terms of trade of primary products in relation to manufactures, do not have as sound a basis as is generally supposed they have on a priori grounds. The projection of that historical...

In its process of growth and its attempt to catch up with the North, the South faces a terms of trade decline in a product cycle scenario. If the South is dependent on imports of northern machines, its growth rate would be adjusted to the growth rate of the North and the terms of trade would...

Contrary to the classical proposition, the works of Prebisch and Singer launched the controversial hypothesis of long-term decline in the terms of trade of primary products vis-à-vis manufactures and a corresponding decline in the terms of trade of the South vis-à-vis the North. The present...