Terms of trade during the first globalization: new evidence, new results

David Chilosi,¬†Giovanni Federico,¬†Antonio Tena-Junguito Read the full paper here The debates. Did trends or volatility of terms of trade hold back the global periphery? Economists and economic historians have asked this question since the 1950s, when Prebisch and Singer argued that the worsening of terms of trade of peripheral countries from the beginning of the […]