A macroeconomic analysis of agricultural terms of trade in Turkey, 1952–90
Bibliographic Data
| ID | 20304149 |
|---|---|
| Authors | Cihan Bilginsoy (University of Utah, corresponding author) |
| Year | 1997 |
| Volume | 33 |
| Issue | 6 |
| Pages | 797-819 |
| Publication date | 1997-08-01 |
| Open Access | No |
| Type | ARTICLE |
| Venue | The Journal of Development Studies (JOURNAL) |
| Journal identifiers | ISSN: 0022-0388 • E-ISSN: 1743-9140 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/00220389708422496 |
| OpenAlex | W2039844347 |
| Language | EN |
| References cited | 14 |
A two‐sector model of terms of trade (TOT) determination is developed and tested using time‐series data for Turkey. Empirical results support the structuralist ‘flex‐price agriculture fix‐price industry’ models. TOT is found to be sensitive to changes in nominal demand and the exchange rate. Rising nominal demand turns the TOT in favour of the agricultural sector provided that there are no supply constraints in the industrial sector. If industrial supply is constrained by import bottlenecks, then aggregate demand expansion turns the TOT in favour of the industrial sector. Devaluation turns the TOT against the agricultural sector primarily via the cost‐push factors in the industrial sector
Agriculture · Economics · Geography · International economics · International trade · Economics of Agriculture and Food Markets · Global Trade and Competitiveness · Global trade and economics
Why poor people stay poor
Inter-Class and Intra-Class Relations of Distribution under ‘Structural Adjustment’
The Political Economy of Turkey
On prices and economic power
Inflation, growth, and import bottlenecks in the Turkish manufacturing industry
Short-term macroeconomic policy in Latin America
Distributional Dynamics in Turkey under “Structural Adjustment” of the 1980s
Food Research Institute Studies
World Development Report 1992
| Highly cited | No |
|---|