single factoral terms of trade

Definitions

Economics

  • The purchasing power, in terms of the price of imports, Pm, of a country's factors, thus accounting for both the net barter terms of trade and its own factor productivity, Ax, in production of exports: SFTT = NBTT*Ax = (Px/Pm)*Ax. Term introduced by Viner (1937).
  • acronymSFTT
    (written as Single factoral terms of trade)
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