International commodity policy / edited by H.W. Singer, Neelamber Hatti and Rameshwar Tandon ; part I
- New Delhi Ashish Publishing House 1987
- 497 p.
- New world order series .
Now there is an urgent need for looking afresh at the possibi lity of the LDCs' reliance on export-led growth and for answers here, we go back to Arthur Lewis, Ragnar Nurkse, Prebisch and Singer. The Prebisch-Singer hypothesis pro claimed a structural tendency for the terms of trade of the LDCs to decline in their dealings with the developed countries.
International action in the commodity field has a very long history, At the first UNCTAD (1964), Raul Prebisch argued that external imbalance in the LDCs, was mainly a manifesta tion of disparity between the rate of growth of their primary exports and that of their imports of industrial goods.
The compensatory financing was also a basic element of Integrated Commodities Programme. Hence the need now to improve the present CFF facility of the IMF and the statex scheme.
This volume brings together recent work relating to the following elements of commodity policy: (i) Political Economy of New Commodity regime (ii) Overview of third world exports (iii) International Commodity agreements (iv) The common fund and the earnings stabilization (v) Export Instability (vi) Long-run behaviour of terms of trade (vii) Global efforts for com pensatory financing