Abstract
The period of the 1970s has witnessed a considerable price explosion in the world commodity markets with significant distributional effects on world income particularly through changes in relative prices. The well-known OPEC-inspired increases in prices for oil have meant that oil exports have become an important factor of growth in the oil producing countries. The question arises, therefore, whether the Soviet Union, with its vast natural resource endowment, has been able to benefit from these changes through its participation in the international division of labour; if so, it would also be desirable to know something about the extent of these gains. This chapter represents an attempt to provide an answer to this question and, in addition, to suggest the likely Soviet attitudes towards exports of primary commodities in the future.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Similar content being viewed by others
Notes
See, for example: E.A. Hewett, Foreign Trade Prices in the Council for Mutual Economic Assistance (Cambridge: Cambridge University Press, 1974), p. 111
In contrast, GBTT would seem to be less suitable for market-type economies since changes in GBTT may reflect less price movements than changes in the balance of payments, and even capital movements. On this point see C.P. Kindleberger, International Economics, 4th ed. (Homewood, Illinois: Richard D. Irwin, Inc., 1968), p. 74.
Editor information
Editors and Affiliations
Copyright information
© 1984 M. M. Kostecki
About this chapter
Cite this chapter
Drabek, Z. (1984). Exports of Primary Commodities and the Soviet Terms of Trade. In: Kostecki, M.M. (eds) The Soviet Impact on Commodity Markets. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-06513-4_4
Download citation
DOI: https://doi.org/10.1007/978-1-349-06513-4_4
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-06515-8
Online ISBN: 978-1-349-06513-4
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)