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Prebisch-Singer thesis (F1)<br />A thesis arguing that as the TERMS OF TRADE have moved against developing countries, protection and import substitution should be used to promote industrialization in such countries. This approach was advocated as a means of reducing income inequalities between nations.<br /><em>Reference</em><br />Prebisch, R. (1950) The Economic Development of Latin America and its Principal Problems, New York: United Nations.<br /> Singer, H.W. (1950) 'The distribution of gains between investing and borrowing countries', American Economic Review 40: 473 - E5. precautionary demand for money (E4) The CASH needed to meet unforeseen expenditures. The expansion of credit facilities has reduced this demand.<br /><em>See also:</em> speculative demand for money; transactions demand for money

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grey belt (Jl)<br />An area with a high proportion of retired people in its population. In many countries, the grey belt is situated on the coastline with the best climate.<br /><em>See also:</em> ageing population
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