Inter-Sectoral Terms of Trade-Issues of Concept and Method

Issues of Concept and Method B L Mungekar The subject of terms of trade between agriculture and industry assumes great significance in the context of economic development because it is directly related to some of the most basic aspects of a developing economy, like distribution of income between two sectors accumulation of wealth and rate of growth of the economy. The estimation of inter-sectoral terms of trade has been fiercely debated in Indian academic circles for the past two decades.