1887

Commodity Prices, Aid and Debt

Implications for LDCs, Small Vulnerable States and HIPCs

image of Commodity Prices, Aid and Debt

This study reveals the extent of persistent downward trends in commodity prices on least developed countries (LDCs), small vulnerable states (SVSs) and heavily indebted countries (HIPCs) and proposes a Joint Diversification Scheme exclusively for export diversification schemes in the commoditydependent poor countries. The report also proposes and outlines the establishment of a Joint Diversification Fund, in addition to regular aid flows as a longterm solution.

English

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Secular Decline in Relative Commodity Prices: A Brief Review of the Literature

Whether the terms of trade have moved unfavourably against primary commodities and the developing countries dependent on them has been the subject of intense interest and debate in the trade and development literature since the publication of articles by Prebisch (1950) and Singer (1950) some 53 years ago. The issue of movement of the terms of trade is essentially an empirical question and the hypothesis of a long-term trend decline in relative commodity prices has been the subject of one of the liveliest debates in the empirical economics literature. Statistical and econometric tests have been applied to produce evidence and counter-evidence.

English

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