Pereira, Alfredo M; Flores de Frutos, Rafael - In: Review of International Economics 6 (1998) 4, pp. 638-48
This paper analyzes the dynamic relationship between tobacco and the rest of the economy in the colonial Chesapeake to test the staple theory version of the export-led growth hypothesis. The paper adopts a multivariate time-series approach which accommodates the presence of cointegration and...