The economics of commodity markets / edited by David Greenaway and C. W. Morgan.

Acknowledgements, ix -- Introduction / David Greenaway, C.W. Morgan, xiii -- Part I. Terms of trade of primary products -- 1. The economic development of Latin America and its principal problems / R. Prebisch, 3 -- 2. The distribution of gains between investing and borrowing countries -- H.W. Singer, 62 -- 3. The statistical debate on the net barter terms of trade between primary commodities and manufactures / John Spraos, 75 -- 4. The statistical debate on the net barter terms of trade between primary commodities and manufactures: a comment and some additional evidence / D. Sapsford, 97 -- 5. Primary commodity prices, manufactured goods prices, and the terms of trade of developing countries: what the long run shows / Enzo R. Grilli and Maw Cheng Yang, 105 -- 6. The prebisch-singer hypothesis: a reappraisal independent of stationarity hypotheses / Pier Giorgio Ardeni and Brian Wright, 152 -- 7. Long-run trends in the relative price of primary commodities and in the terms of trade of developing countries / Michael Bleaney and David Greenaway, 162 -- Part II. Commodity price instability -- 8. The Prima facie case / Alasdair I. Macbean, 179 -- 9. The excess co-movement of commodity prices / Robert S. Pindyck and Julio J. Rotemberg, 191 -- 10. On the behaviour of commodity prices / Angus Deaton and Guy Laroque, 208 -- 11. The commodity price collapse of the 1980s' and 'the impact on the developing countries / Alfred Maizels, 231 -- 12. The Excess Comovement of Commodity Prices Revisited / S.J. Leyboume, T.A. Lloyd and G.V. Reed, 165 -- Part III. Stabilization programmes -- 13. The policy of government storage of food-stuffs and raw materials / J.M. Keynes, 279 -- 14. The distribution of welfare gains from price stabilization: an international perspective / Richard Just, Ernst Lutz, Andrew Schmitz and Stephen Turnovsky, 291 -- 15. Summary of findings / David M.G. Newbery and Joseph E. Stiglitz, 304 -- 16. How to analyse commodity price stabilisation? a review article / S.M. Ravi Kanbur, 328 -- 17. International commodity agreements: an obituary notice / Christopher L. Gilbert, 351 -- 18. The economic role of commodity storage / Brian D. Wright and Jeffrey C. Williams, 370 -- Part IV. Trade shocks -- 19. Booming sector and Dutch disease economics: survey and consolidation / W.M. Corden, 391 -- 20. What Stopped the Inflation? Unemployment or commodity prices? / Wilfred Beckerman and Tim Jenkinson, 413 -- 21. Primary commodity prices and inflation / Christopher L. Gilbert, 429 -- 22. Trade shocks in developing countries: consequences and policy responses / David Bevan, Paul Collier and Jan Willem Gunning, 452 -- Part V. Futures markets -- 23. Futures markets, buffer stocks, and income stability for primary producers / Ronald I. McKinnon, 463 -- 24. Futures trading and the welfare evaluation of commodity price stabilisation / Christopher L. Gilbert, 481 -- 25. Forward contracts or international buffer stocks? A study of their relative efficiencies in stabilising commodity export earnings / Gordon Gemmill, 506 -- Part VI. Sectoral studies -- 26. The impact of the international coffee agreement on producing countries / Takamasa Akiyama and Panayotis N. Varangis, 527 -- 27. Commodity agreements and commodity markets: lessons from tin / Ronald W. Anderson and Christopher L. Gilbert, 544 -- 28. A survey of the costs of world sugar policies / Brent Borrell and Ronald C. Duncan, 559 -- 29. Long-term and short-term analysis of the natural rubber market / Kees Burger and Hidde P. Smit, 583 -- 30. The 1981-82 recession and non-oil primary commodity prices / Ke-Young Chu and Thomas K. Morrison, 612 -- 31. Introduction: a taxonomy of commodity models and their policy applications / Walter C. Labys, 660 -- Name index, 691.