The Prebish–Singer hypothesis in the post-colonial era: Evidence from panel cointegration

2018

ECONOMICS LETTERS

The Prebish–Singer hypothesis in the post-colonial era: Evidence from panel cointegration

01 Pubblicazione su rivista

Fachin Stefano

DOI: 10.1016/j.econlet.2018.02.026

ISSN: 0165-1765

We test the hypothesis that commodity prices tend to decline relatively to manufactured goods prices using a panel cointegration bootstrap test. The hypothesis does not hold for 1950–1980, and it does for 1950–2011 for agricultural products but not for Metals.

bootstrap commodity prices panel cointegration Prebish–Singer hypothesis