Philippine Export and Terms of Trade Instability, 1965-1982

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This paper aims to trace the factors that have contributed to the instability of the country’s export earnings and the observed deterioration in the terms of trade during the period of 1965-1982. Presently, it becomes imperative to look into the effects brought about by external shocks on domestic productions, income and prices. The roles of international reserves and external credit availability to minimize the distortion to the local economy are also examined.