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Commodity Prices and Development$
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Roman Grynberg and Samantha Newton

Print publication date: 2007

Print ISBN-13: 9780199234707

Published to Oxford Scholarship Online: January 2008

DOI: 10.1093/acprof:oso/9780199234707.001.0001

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Long‐Run Trend in the Relative Price: Empirical Estimation for Individual Commodities

Long‐Run Trend in the Relative Price: Empirical Estimation for Individual Commodities

Chapter:
(p.35) 3 Long‐Run Trend in the Relative Price: Empirical Estimation for Individual Commodities
Source:
Commodity Prices and Development
Author(s):

Mohammad A. Razzaque

Philip Osafa‐Kwaako

Roman Grynberg

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199234707.003.0004

This chapter details an empirical investigation to quantify the trend decline in relative prices of a number of individual commodities, and the impact of declining commodity prices on the balance of payments of LDCs, SVS, and HIPCs. The empirical evidence presented points to the presence of a statistically significant declining trend in the relative price of most individual commodities, the results highlighting the magnitude of the deterioration of the relative commodity prices during the recent past.

Keywords:   balance of payments, commodity prices, declining trend, relative price

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