The Impact of the Terms of Trade on Economic Development in the Periphery, 1870-1939 - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Impact of the Terms of Trade on Economic Development in the Periphery, 1870-1939 write by Christopher Blattman. This book was released on 2005. The Impact of the Terms of Trade on Economic Development in the Periphery, 1870-1939 available in PDF, EPUB and Kindle. "Most countries in the periphery specialized in the export of just a handful of primary products for most of their history. Some of these commodities have been more volatile than others, and those with more volatile prices have grown slowly relative both to the industrial leaders and to other primary product exporters. This fact helps explain the growth puzzle noted by Easterly, Kremer, Pritchett and Summers more than a decade ago: that the contending fundamental determinants of growth institutions, geography and culture exhibit far more persistence than do the growth rates they are supposed to explain. Using a new panel database for 35 countries, this paper estimates the impact of terms of trade volatility and secular change on country performance between 1870 and 1939. Volatility was much more important for accumulation and growth than was secular change. Additionally, both effects were asymmetric between Core and Periphery, findings that speak directly to the terms of trade debates that have raged since Prebisch and Singer wrote more than 50 years ago. The paper also investigates one channel of impact, and finds that foreign capital inflows declined steeply where commodity prices were volatile"--NBER website
The Terms of Trade and Economic Growth in the Periphery, 1870-1938
The Terms of Trade and Economic Growth in the Periphery, 1870-1938 - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Terms of Trade and Economic Growth in the Periphery, 1870-1938 write by Christopher Blattman. This book was released on 2003. The Terms of Trade and Economic Growth in the Periphery, 1870-1938 available in PDF, EPUB and Kindle. The contending fundamental determinants of growth -- institutions, geography and culture --exhibit far more persistence than do the growth rates they are supposed to explain. So, what exogenous shocks might account for the variance around those persistent fundamentals? The terms of trade seems to be one good place to look. Using a panel data base for 35 countries, this paper estimates the impact of terms of trade volatility and secular change between 1870 and 1938. We find that volatility was much more important than secular change. Additionally, both effects were asymmetric between core and periphery, findings that speak directly to the terms of trade debates that have raged since Prebisch and Singer wrote more than 50 years ago.
The Terms of Trade and Economic Growth in the Periphery 1870-1983
The Terms of Trade and Economic Growth in the Periphery 1870-1983 - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Terms of Trade and Economic Growth in the Periphery 1870-1983 write by Christopher Blattman. This book was released on 2003. The Terms of Trade and Economic Growth in the Periphery 1870-1983 available in PDF, EPUB and Kindle.
Trade and Poverty
Trade and Poverty - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Trade and Poverty write by Jeffrey G. Williamson. This book was released on 2011-01-07. Trade and Poverty available in PDF, EPUB and Kindle. How the rise of globalization over the past two centuries helps explain the income gap between rich and poor countries today. Today's wide economic gap between the postindustrial countries of the West and the poorer countries of the third world is not new. Fifty years ago, the world economic order—two hundred years in the making—was already characterized by a vast difference in per capita income between rich and poor countries and by the fact that poor countries exported commodities (agricultural or mineral products) while rich countries exported manufactured products. In Trade and Poverty, leading economic historian Jeffrey G. Williamson traces the great divergence between the third world and the West to this nexus of trade, commodity specialization, and poverty. Analyzing the role of specialization, de-industrialization, and commodity price volatility with econometrics and case studies of India, Ottoman Turkey, and Mexico, Williamson demonstrates why the close correlation between trade and poverty emerged. Globalization and the great divergence were causally related, and thus the rise of globalization over the past two centuries helps account for the income gap between rich and poor countries today.
The Spread of Modern Industry to the Periphery Since 1871
The Spread of Modern Industry to the Periphery Since 1871 - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Spread of Modern Industry to the Periphery Since 1871 write by Kevin H. O'Rourke. This book was released on 2017. The Spread of Modern Industry to the Periphery Since 1871 available in PDF, EPUB and Kindle. This is an open access title available under the terms of a CC BY-NC-ND 4.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. Ever since the Industrial Revolution of the late-eighteenth and early-nineteenth centuries, industrialization has been the key to modern economic growth. The fact that modern industry originated in Britain, and spread initially to north-western Europe and North America, implied a dramatic divergence in living standards between the industrial North (or West) and a non-industrial, or even de-industrializing, South (or Rest). This nineteenth-century divergence, which had profound economic, military, and geopolitical implications, has been studied in great detail by many economists and historians. Today, this divergence between the West and the Rest is visibly unraveling, as economies in Asia, Latin America and even sub-Saharan Africa converge on the rich economies of Europe and North America. This phenomenon, which is set to define the twenty-first century, both economically and politically, has also been the subject of a considerable amount of research. Less appreciated, however, are the deep historical roots of this convergence process, and in particular of the spread of modern industry to the global periphery. This volume fills this gap by providing a systematic, comparative, historical account of the spread of modern manufacturing beyond its traditional heartland, to Southern and Eastern Europe, the Middle East, Asia, Africa, and Latin America, or what we call the poor periphery. It identifies the timing of this convergence, finding that this was fastest in the interwar and post-World War II years, not the more recent miracle growth years. It also identifies which driving forces were common to all periphery countries, and which were not.
