The long-run behaviour of the terms of trade between primary commodities and manufactures: A panel data approach

This paper examines the Prebisch and Singer hypothesis using a panel of twenty-four commodity prices from 1900 to 2010. The modelling approach stems from the need to meet two key concerns: (i) the presence of cross-sectional dependence among commodity prices; and (ii) the identification of potential...

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Fecha de publicación:: 2013

Institución:: Universidad del Rosario

Repositorio:: Repositorio EdocUR - U. Rosario

Idioma:: eng

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spelling	1f1a7996-5b8a-4390-bdc9-3ff88367043b-1792428146002020-05-25T23:58:21Z2020-05-25T23:58:21Z2013This paper examines the Prebisch and Singer hypothesis using a panel of twenty-four commodity prices from 1900 to 2010. The modelling approach stems from the need to meet two key concerns: (i) the presence of cross-sectional dependence among commodity prices; and (ii) the identification of potential structural breaks. To address these concerns, the Hadri and Rao (Oxf Bull Econ Stat 70:245-269, 2008) test is employed. The findings suggest that all commodity prices exhibit a structural break whose location differs across series, and that support for the Prebisch and Singer hypothesis is mixed. Once the breaks are removed from the underlying series, the persistence of commodity price shocks is shorter than that obtained in other studies using alternative methodologies. © 2013 ISEG.application/pdfhttps://doi.org/10.1007/s10258-012-0086-31617982Xhttps://repository.urosario.edu.co/handle/10336/22847eng56No. 135Portuguese Economic JournalVol. 12Portuguese Economic Journal, ISSN:1617982X, Vol.12, No.1 (2013); pp. 35-56https://www.scopus.com/inward/record.uri?eid=2-s2.0-84876087072&doi=10.1007%2fs10258-012-0086-3&partnerID=40&md5=162f51e7b920691d5e4db45e54631589Abierto (Texto Completo)http://purl.org/coar/access_right/c_abf2instname:Universidad del Rosarioreponame:Repositorio Institucional EdocURCross section dependencePanel stationarityPrebisch and singer hypothesisStructural changeThe long-run behaviour of the terms of trade between primary commodities and manufactures: A panel data approacharticleArtículohttp://purl.org/coar/version/c_970fb48d4fbd8a85http://purl.org/coar/resource_type/c_6501Iregui, Ana MaríaOtero Cardona, Jesús GilbertoORIGINALIregui-Otero2013_Article_TheLong-runBehaviourOfTheTerms.pdfapplication/pdf455341https://repository.urosario.edu.co/bitstreams/a2754c50-a745-49a3-ab2d-dd2d418c04d0/downloadf505974f1fc5344e928d13ac74528b5dMD51TEXTIregui-Otero2013_Article_TheLong-runBehaviourOfTheTerms.pdf.txtIregui-Otero2013_Article_TheLong-runBehaviourOfTheTerms.pdf.txtExtracted texttext/plain62536https://repository.urosario.edu.co/bitstreams/6c28189e-7e9e-480b-abe2-a92cddc6bac4/download299d8e9a9a4d5d223561bbff85b16c36MD52THUMBNAILIregui-Otero2013_Article_TheLong-runBehaviourOfTheTerms.pdf.jpgIregui-Otero2013_Article_TheLong-runBehaviourOfTheTerms.pdf.jpgGenerated Thumbnailimage/jpeg3874https://repository.urosario.edu.co/bitstreams/c3de9b78-b1d6-475d-8e18-745420420e67/download171989f0553e6eb4fc27fc7632a6b19cMD5310336/22847oai:repository.urosario.edu.co:10336/228472022-05-02 07:37:20.671471https://repository.urosario.edu.coRepositorio institucional EdocURedocur@urosario.edu.co
dc.title.spa.fl_str_mv	The long-run behaviour of the terms of trade between primary commodities and manufactures: A panel data approach
title	The long-run behaviour of the terms of trade between primary commodities and manufactures: A panel data approach
spellingShingle	The long-run behaviour of the terms of trade between primary commodities and manufactures: A panel data approach Cross section dependence Panel stationarity Prebisch and singer hypothesis Structural change
title_short	The long-run behaviour of the terms of trade between primary commodities and manufactures: A panel data approach
title_full	The long-run behaviour of the terms of trade between primary commodities and manufactures: A panel data approach
title_fullStr	The long-run behaviour of the terms of trade between primary commodities and manufactures: A panel data approach
title_full_unstemmed	The long-run behaviour of the terms of trade between primary commodities and manufactures: A panel data approach
title_sort	The long-run behaviour of the terms of trade between primary commodities and manufactures: A panel data approach
dc.subject.keyword.spa.fl_str_mv	Cross section dependence Panel stationarity Prebisch and singer hypothesis Structural change
topic	Cross section dependence Panel stationarity Prebisch and singer hypothesis Structural change
description	This paper examines the Prebisch and Singer hypothesis using a panel of twenty-four commodity prices from 1900 to 2010. The modelling approach stems from the need to meet two key concerns: (i) the presence of cross-sectional dependence among commodity prices; and (ii) the identification of potential structural breaks. To address these concerns, the Hadri and Rao (Oxf Bull Econ Stat 70:245-269, 2008) test is employed. The findings suggest that all commodity prices exhibit a structural break whose location differs across series, and that support for the Prebisch and Singer hypothesis is mixed. Once the breaks are removed from the underlying series, the persistence of commodity price shocks is shorter than that obtained in other studies using alternative methodologies. © 2013 ISEG.
publishDate	2013
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dc.date.accessioned.none.fl_str_mv	2020-05-25T23:58:21Z
dc.date.available.none.fl_str_mv	2020-05-25T23:58:21Z
dc.type.eng.fl_str_mv	article
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dc.type.spa.spa.fl_str_mv	Artículo
dc.identifier.doi.none.fl_str_mv	https://doi.org/10.1007/s10258-012-0086-3
dc.identifier.issn.none.fl_str_mv	1617982X
dc.identifier.uri.none.fl_str_mv	https://repository.urosario.edu.co/handle/10336/22847
url	https://doi.org/10.1007/s10258-012-0086-3 https://repository.urosario.edu.co/handle/10336/22847
identifier_str_mv	1617982X
dc.language.iso.spa.fl_str_mv	eng
language	eng
dc.relation.citationEndPage.none.fl_str_mv	56
dc.relation.citationIssue.none.fl_str_mv	No. 1
dc.relation.citationStartPage.none.fl_str_mv	35
dc.relation.citationTitle.none.fl_str_mv	Portuguese Economic Journal
dc.relation.citationVolume.none.fl_str_mv	Vol. 12
dc.relation.ispartof.spa.fl_str_mv	Portuguese Economic Journal, ISSN:1617982X, Vol.12, No.1 (2013); pp. 35-56
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The long-run behaviour of the terms of trade between primary commodities and manufactures: A panel data approach

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