This paper is divided into two parts. The first part reviews the theoretical arguments that have surrounded the issue of the deterioration in the terms of trade since the 1950s. The second part reviews critically some of the most important methods used to test the hypothesis of deterioration in...

This paper presents a demand and supply model of the determinants and manufacturing exports from Brazil, for the period 1965-88. Previous studies are reviewed and the model proposed is elaborated in the basis of this review. The model which in the end is estimated is distinguished from the...

Development policies have been a problem for economists for a long time. Latin American Structuralists emphasized the role of investments in economic infrastructure as a crucial policy to promote development, while the New Growth Literature has mainly emphasized the role of investments in human...

This paper emphasizes that although technical progress is crucial for economic growth, its promotion may lead to income concentration in hands of the richest. As it demands public effort to reach its optimal level, because of the existence of several market restraints on the production of new...