Domestic Terms of Trade and Public Policy for Agriculture in Pakistan

Sarfraz K. Qureshi

Abstract


Despite the crucial importance of information on intersectoral
terms of trade in the formulation of a host of public policies, the
official statistical system in Pakistan is yet to generate a statistical
series of the terms of trade for the .agricultural sector on a regular
basis. A number of views expressed on Pakistan's agriculture appear to
be based either on results of studies that are now outdated, or on a
complete neglect of the existing data that could be processed to
calculate the terms-of. trade indices. This paper attempts to provide
information on the movement of terms of trade for the agricultural
sector for the period from 1951-52 to 1983-84. The impact of changes in
terms of trade on farm output, distribution of income and efficient use
of resources is also traced.

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DOI: https://doi.org/10.30541/v24i3-4pp.363-383

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