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Production Differentiation in International Commodity Trade.



This paper applies the logistic case of the error correction mechanism to the empirical analysis of the demand for commodity exports of the developing countries. Its appropriateness for the characterization of the data-generating process of the demand for commodity exports is illustrated, and estimates are presented for Latin America's major commodity exports. The empirical results point to an important role for relative prices in the determination of the demand for primary commodity exports. Copyright 1989 by Blackwell Publishing Ltd

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