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Cuba And The Latin American Terms Of Trade In The Nineteenth Century: Old Theories, New Evidence, Linda K. Salvucci

History Faculty Research

Since the early 1950s, scholars from diverse regions and disciplines have analyzed the terms of trade of developing countries. The Latin American contribution to this discussion has been especially noteworthy. Raul Prebisch, a "pioneer" in proposing a secular decline in the terms of trade for developing countries, was an Argentine whose career included a long association with the United Nations and with the Economic Commission for Latin America (ECLA). Prebisch's thinking influenced an entire generation of economists from Latin America and elsewhere who were preoccupied by postwar economic concerns. Prebisch, along with Singer, relied upon the terms of trade to …