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Terms of Trade Shocks and Economic Performance 1870-1940 : Prebisch and Singer Revisited

Hadass, Yael S.; Williamson, Jeffrey G. - 2021

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

Globalization and the Great Divergence : Terms of Trade Booms and Volatility in the Poor Periphery 1782-1913

Williamson, Jeffrey G. - 2008

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

Commodity Price Volatility and World Market Integration Since 1700

Jacks, David S. - 2009

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

The Impact of the Terms of Trade on Economic Development in the Periphery, 1870-1939 : Volatility and Secular Change

Blattman, Christopher; Hwang, Jason; Williamson, Jeffrey G. - 2021

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...

Persistent link: https://www.econbiz.de/10013222998

The Terms of Trade and Economic Growth in the Periphery 1870-1938

Blattman, Christopher; Hwang, Jason; Williamson, Jeffrey G. - 2021

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...

Persistent link: https://www.econbiz.de/10013214578