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Introduction

  • James A. Hanson
Chapter
  • 40 Downloads
Part of the Lecture Notes in Operations Research and Mathematical Systems book series (LNE, volume 59)

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.

Keywords

Demand Function Income Elasticity Underdeveloped Country Capital Intensity Offer Curve 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag Berlin · Heidelberg 1971

Authors and Affiliations

  • James A. Hanson
    • 1
  1. 1.Department of EconomicsBrown UniversityProvidenceUSA

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