The concept of "economic pessimism" stems from

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Economic pessimism is the belief that developing countries face declining export prices relative to increasing import prices. This stems from the theory and empirical evidence that suggests that developing nations are vulnerable to terms of trade shocks which lead to a deterioration of their export earnings. This, in turn, makes it difficult for them to accumulate the necessary foreign exchange reserves to finance their imports, leading to lower standards of living and slow economic growth.

The Concept of "Economic Pessimism" Stems from