Purpose - Utilizing the Marxist theory of unequal exchange to explain the terms of trade between nations, this paper elucidates one possible mechanism that gives rise to ecologically unequal exchange between developed and developing economies. Design/methodology/approach - We propose a...

Das preisbereinigte Bruttoinlandsprodukt als zentrales Maß für die im Inland erwirtschafte Leistung hat im Jahr 2022 die heimische Wohlfahrtsentwicklung überschätzt. Denn im Gefolge der Verschlechterung der Terms of Trade ist ein Teil des in Deutschland erwirtschafteten Realeinkom- mens ins...

This paper unpacks the role of offshoring in the enforcement of trade agreements. In a two-country model of task offshoring, we show that by depressing demand and thus demand for embodied labor, own-tariff effects on factor content weighted terms of trade are: (i) negative in upstream countries,...

This article discusses three interrelated aspects of Indian economy namely Indian agriculture, terms of trade and WTO’s role in Indian agriculture. International agricultural trade has been described as inexplicable, exasperating, and the most distorted segment of the global economy....

What are the effects of financial integration on global comovement? Using a standard two-country DSGE model, I show that in response to country-specific supply shocks higher exposure to foreign assets leads to lower cross-country output correlations, while the opposite is true for...

This study examines the effects of the Terms of Trade and governance on household income in Africa countries. The study employed the Two-stage Least Squares (2SLS) fixed effects estimation technique based on data from 36 selected African countries for the period, 2002-2021. The findings reveal...