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Debate over trends in the terms of trade between primary commodities and manufactures, their causes and their impact has dominated the literature for more than a century. Classical economists claimed that the terms of trade of primary commodities should improve since land and natural resources...
Persistent link: https://www.econbiz.de/10013227739
World War I to the quotas and bans introduced afterwards was the result of a combination of factors: public hostility …
Persistent link: https://www.econbiz.de/10002352435
Today's labor-scarce economies have open trade and closed immigration policies, while a century ago they had just the opposite, open immigration and closed trade policies. Why the inverse policy correlation, and why has it persisted for almost two centuries? This paper seeks answers to this dual...
Persistent link: https://www.econbiz.de/10003328062
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 …
Persistent link: https://www.econbiz.de/10012764828
Can history shed light on the modern debate about immigration%u2019s labor market impact in high wage economies? This paper examines the relationship between migration and capital flows in the age of mass migration before 1914, the so-called first global century. It then assesses the effects of...
Persistent link: https://www.econbiz.de/10012779612
W. Arthur Lewis argued that a new international economic order emerged between 1870 and 1913, and that global terms of trade forces produced rising primary product specialization and de-industrialization in the poor periphery. More recently, modern economists argue that volatility reduces growth...
Persistent link: https://www.econbiz.de/10012772451
There are two contrasting views of pre-19th century trade and globalization. First, there are the world history … were the two most important events in recorded history. Second, there is the view that the world economy was fragmented and … global economy that world historians assign to them, while there is plenty of evidence of a very big bang in the 19th century …
Persistent link: https://www.econbiz.de/10014175442
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 …
Persistent link: https://www.econbiz.de/10014158843
will be pleased to hear that it probably accounted for more than a third of the rising inequality in the New World and for … produced prior to World War I were at least partly responsible for the interwar retreat from globalization. Will the world …
Persistent link: https://www.econbiz.de/10014106024
that accelerated even more up to 1950-1975. What explains the spread of the industrial revolution world-wide and this … to have taken resource advantages away from the European and North American leaders, and integrating world financial …
Persistent link: https://www.econbiz.de/10013129186