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Title: The prebisch-singer hypothesis: four centuries of evidence
Authors: Harvey, David I.
Kellard, Neil M.
Madsen, Jakob B.
Wohar, Mark E.
Issue Date: 2010
Publisher: Massachusetts Institute of Technology Press (MIT Press) © The President and Fellows of Harvard College and the Massachusetts Institute of Technology
Citation: HARVEY, D.I. ... et al., 2010. The prebisch-singer hypothesis: four centuries of evidence. Review of Economics and Statistics, 92 (2), pp. 367 - 377.
Abstract: We employ a unique data set and new time-series techniques to reexamine the existence of trends in relative primary commodity prices. The data set comprises 25 commodities and provides a new historical perspective, spanning the seventeenth to the twenty-first centuries. New tests for the trend function, robust to the order of integration of the series, are applied to the data. Results show that eleven price series present a significant and downward trend over all or some fraction of the sample period. In the very long run, a secular, deteriorating trend is a relevant phenomenon for a significant proportion of primary commodities. © 2010 The President and Fellows of Harvard College and the Massachusetts Institute of Technology.
Description: Closed access.
Version: Published
DOI: 10.1162/rest.2010.12184
URI: https://dspace.lboro.ac.uk/2134/15153
Publisher Link: http://dx.doi.org/10.1162/rest.2010.12184
ISSN: 0034-6535
Appears in Collections:Closed Access (Business)

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