Abstract
The years following World War II have witnessed an increasing interest in the effects of growth on trade, the patterns of international specialization, and the terms of trade. On the one hand, some English economists have maintained the Ricardian tradition of diminishing returns, rising food prices and, therefore, declining British terms of trade, while, on the other hand Prebisch, Singer, and other critics have attempted to document and explain a long-run decline in the terms of trade of the underdeveloped countries. Finally, in a reaction to this concentration on a single factor as the determinant of international price movements, a group of economists, began a systematic investigation of the role of growth in trade and the terms of trade using neoclassical assumption.
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© 1971 Springer-Verlag Berlin · Heidelberg
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Hanson, J.A. (1971). Introduction. In: Growth in Open Economies. Lecture Notes in Operations Research and Mathematical Systems, vol 59. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-80664-3_1
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DOI: https://doi.org/10.1007/978-3-642-80664-3_1
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