An understanding of price structures and their impact on trade, productivity, and other related factors will aid in formulation of price policies promoting economic growth and development. Price formulation issues are examined within the context of nonmarket and imperfect market conditions, providing insightful linking of exchange rates and domestic prices to a wide array of factors that determine economic growth. Different facets of primary commodity price formation are explored, arriving at such conclusions as the fact that the dramatic rise in oil prices during the 1970s had little to do with the Latin American debt crisis or with the world recession that followed. Some new techniques for analysis are used, and commonly used techniques in price comparison studies are discussed.
About the Author
ANTONIO JORGE is Professor in the Departments of International Research and of Economics at Florida International University, and a Senior Research Scholar at the University of Miami.
JORGE SALAZAR-CARRILLO is Professor of Economics and Director of the Center of Economic Research at Florida International University. Dr. Salazar-Carrillo has published Oil and Development in Venezuela During the Twentieth Century (Praeger, 1994), among other books and journal articles.
Table of Contents
Tables and Figures
Introduction and Overview by Antonio Jorge, Jorge Salazar-Carrillo, and Bernadette West
Price Structures, Market Signals, and Reform
A Comparison of Government Costs in Latin America by Jorge Salazar-Carrillo
The Role of Rational Prices in the Adoption of Market Structures by Developing Command Economies by Antonio Jorge and Jorge Salazar-Carrillo
Price Comparison Studies in Central America by Enrique Delgado
External Sector Prices and Economic Growth
Protection, Price Structure, and Export Growth by Felipe Pazos
Implications of a Fixed Exchange Rate for Stability and Growth in Small, Open Economies: The Case of the Bahamas by Carlene Y. Francis
Import Demand and Foreign Debt: A Latent-Variable Systemwide Approach by James L. Seale Jr. and Charles B. Moss
Primary Commodity Prices and Productivity
Oil Prices, Economic Growth, and Economic Productivity by Antonio Casas Gonzalez
A Reassessment of Agricultural Price Policy in Developing Countries by Dodla Sai Prasada Rao, Kailash Chandra Sharma, and William Sheperd
Methods and Comparisons
The European Comparison Program by Ilona Kovacs
The GDPs and Populations of the G-7 Countries, 1950-1990 by Charles B. Moss, Henri Theil, and Sri Devi Deepak
Price Structures, Productivity, and Growth Within a Composite Commodities Framework by Markos Mamalakis
The Florida Model for Demand Analysis with Cross-Country Data by Henri Thiel
A Critique of the ICP and Related Work by Jorge Salazar-Carrillo and Antonio Jorge