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Publisher: Universidad Carlos III de Madrid. Instituto Laureano Figuerola: Centro de Estudios Políticos y Constitucionales

Issued date: 2006

Citation: Revista de Historia Económica - Journal of Iberian and Latin American Economic History, Año XXIV, primavera 2006, n. 1, pp.9-36

ISSN: 0212-6109

Review: PeerReviewed

Keywords: Globalización , Desarrollo humano , Desindustrialización , Países en vías de desarrollo , Globalization , Underdevelopment , Deindustrialization , Developing countries

JEL Classification: F10 , N10 , O10

Rights: Atribución-NoComercial-SinDerivadas 3.0 España

Abstract:Between 1810 and 1940, a large GDP per capita gap appeared between the industrial core and the poor periphery, the latter producing, increasingly, primary products. Over the same period, the terms of trade facing the periphery underwent a secular boom then busBetween 1810 and 1940, a large GDP per capita gap appeared between the industrial core and the poor periphery, the latter producing, increasingly, primary products. Over the same period, the terms of trade facing the periphery underwent a secular boom then bust, peaking in the 1870s or 1890s. These terms of tradetrends appear to have been exogenous to the periphery. Additionally, the terms of trade facing the periphery exhibited relatively high volatility. Are these correlations spurious, or are they causal? This Figuerola Lecture, to be given at Carlos III University Madrid, argues that they are causal, that secular growth and volatilityin the terms of trade had asymmetric effects on core and periphery. On the upswing, the secular rise in its terms of trade had powerful de-industrialization effects in the periphery. Over the full cycle 1810-1940, terms of trade volatility suppressed accumulation and growth in the periphery as well.+-





Autor: Williamson, Jeffrey G.

Fuente: http://e-archivo.uc3m.es


Introducción



Universidad Carlos III de Madrid Repositorio institucional e-Archivo http:--e-archivo.uc3m.es Revista de Historia Económica - Journal of Iberian and Latin AmericanRHE Economic 2006 n.History 01 primavera (II época) 2006 Globalization, de-industrialization and underdevelopment in the third world before the modern era Williamson, Jeffrey G. Universidad Carlos III de Madrid.
Instituto Laureano Figuerola: Centro de Estudios Políticos y Constitucionales Revista de Historia Económica - Journal of Iberian and Latin American Economic History, Año XXIV, primavera 2006, n.
1, pp.9-36 http:--hdl.handle.net-10016-12619 Descargado de e-Archivo, repositorio institucional de la Universidad Carlos III de Madrid GLOBALIZATION, DE-INDUSTRIALIZATION AND UNDERDEVELOPMENT IN THE THIRD WORLD BEFORE THE MODERN ERA* JEFFREY G.
WILLIAMSON Harvard Universitya ABSTRACT Between 1810 and 1940, a large GDP per capita gap appeared between the industrial core and the poor periphery, the latter producing, increasingly, primary products.
Over the same period, the terms of trade facing the periphery underwent a secular boom then bust, peaking in the 1870s or 1890s.
These terms of trade trends appear to have been exogenous to the periphery.
Additionally, the terms of trade facing the periphery exhibited relatively high volatility.
Are these correla* This paper was delivered as the Figuerola Lecture at Carlos III University, Madrid.
(October 6, 2005).
It draws heavily on and extends parts of the Ohlin Lectures given at the Stockholm School of Economics in October 2004 which will appear shortly as Globalization and the Poor Periphery Before the Modern Era (MIT Press 2005a).
This work exploits collaborations with Luis Bértola, Chris Blattman, Michael Clemens, David Clingingsmith, John Coatsworth, Yael Hadass, Jason Hwang, Saif Shah Mohammed, Kevin O’Rourke and Alan Taylor, to whom I am very grateful.
In addition, it has been improved by help with the data and the argument by Max Corden, Je...





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