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However, Prebisch specifically deals with the economic cycle and highlights to a greater extent than Singer the reasons for the different behaviour of wages in developed and underdeveloped countries, and received much greater recognition for his work, in part because of efforts by industrialized countries like the United States to distance ...
Dependency theory originates with two papers published in 1949, one by Hans Singer and one by Raúl Prebisch, in which the authors observe that the terms of trade for underdeveloped countries relative to the developed countries had deteriorated over time: the underdeveloped countries were able to purchase fewer and fewer manufactured goods from ...
Sir Hans Wolfgang Singer (29 November 1910 – 26 February 2006) was a German-born British development economist best known for the Prebisch-Singer thesis, which states that the terms of trade move against producers of primary products. He is one of the primary figures of heterodox economics.
In 1950, he released a study The Economic Development of Latin America and its Principal Problems [1] that stated what is now known as the Prebisch–Singer hypothesis. German economist Hans Singer had separately arrived at a similar conclusion as Prebisch at roughly the same time, although his paper used a more empirical approach based on ...
The theories behind Latin American structuralism and ISI were organized in the works of economists such as Raúl Prebisch, Hans Singer, and Celso Furtado, and gained prominence with the creation of the United Nations Economic Commission for Latin America and the Caribbean (UNECLAC or CEPAL). [6]
Prebisch began with arguments that economic inequality and distorted development was an inherent structural feature of the global system exchange. As such, early structuralist models emphasised both internal and external disequilibria arising from the productive structure and its interactions with the dependent relationship developing countries ...
Influential studies published in 1950 by the Argentine economist Raul Prebisch [21] and the British economist Hans Singer [22] suggested that there is a tendency for the prices of agricultural products to fall relative to the prices of manufactured goods; turning the terms of trade against the developing countries and producing an unintended ...
The theory was an attempt to explain the falling trend in the terms of trade for underdeveloped countries, while criticising the different approaches of Raúl Prebisch, Hans Singer, and Arthur Lewis to do so as only half-hearted attempts.