of life deep into the 18th century. Does world market integration breed more or less commodity price volatility? The … been associated with much greater commodity price volatility, while world market integration associated with peace and pro … never been constant. Globalization increased poor country specialization in commodities when the world went open after the …

world commodity and factor markets, history offers an unambiguous positive correlation between globalization and convergence …. But is the correlation spurious? When the pre-World War I years are examined in detail, the correlation turns out to be …

-industrial Third World. This paper finds commodity price convergence to have been bigger in the Third World than the Atlantic economy …A Third World data base documenting commodity and factor prices 1870-1940 has been collected, yielding annual time … for 10 in the so-called greater Atlantic economy: Australia, Britain, Canada, Denmark, France, Germany, Ireland, Spain …

third view which argues that the world economy was fragmented and completely de-globalized before the 19th century. None of … three competing views. Both tests show: there is no evidence supporting the view that the world economy was globally … on the global economy that world historians assign to them; but there is abundant evidence supporting the view that the …

This paper uses a new pre-1940 Third World data base documenting real wages and relative factor prices to explore their … wages to land rents, on the other hand, declined up to World War I and so did the ratio of wages to GDP per capita. The …

, however, is that there seem to be certain "threshold" levels of financial and institutional development that an economy needs …

behind this crisis is the large demand for riskless assets from the rest of the world. In this paper we present a model to …