Raul Prebisch (1901-1986) was an Argentine economist and a founder of structuralist economics. He is known for the Prebisch-Singer hypothesis, which holds that the terms of trade move against countries exporting primary commodities and in favor of industrialized countries exporting manufactured goods, leaving peripheral economies at a long-run disadvantage in trade with the industrial center. As executive director of the United Nations Economic Commission for Latin America from 1950 and founding secretary-general of the United Nations Conference on Trade and Development from 1964 to 1969, he shaped Latin American and developing-world economic policy toward industrialization and import substitution.
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