Factors contributing to falling NBToTs (sometimes wrongly called different
{"Image DocumentName": "Factors contributing to falling NBToTs (sometimes wrongly called different versions of the PST)", "Image ImageDescription": "- low income elasticity of commodity exports; initially hotly attacked, meanwhile generally accepted (e.g, IMF, 1987; IBRD 1987) Expanding of raw material exports \u25ac\u25ba excess supply. - low elasticities of demand of periphery exports. - necessary imports to promote development only produced by Centre \u2013 PCs\u2019 income elasticity of imports high. Developmental needs \u25ac\u25ba excess demand. -cultural dependence or wasting resources for luxury consumption. -oversupply of labour in PCs keeping wages down. -(absence of) market power of factors of production: workers (trade unions) and entrepreneurs in the North have sufficient market power to keep Northern prices from falling along with technical progress; lack of such power in PCs forces their prices down. - protection by the Centre restricts export outlets \u25ac\u25ba additional force to the deteriorating trend; Centre\u2019s protectionism increases market disequilibria created by the disparity of export possibilities and import needs of SCs. - Singer (1991) added debt pressure.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}