. Singapore and Thailand started recording catching up growth rates on the western leaders only from the 1950s onwards, and … answers, we distinguish four periods: de-industrialization and commodity export growth before 1913; a modest diversification … substitution policies between the 1940s and the 1960s; and finally the high speed export-led industrialization since. We show how …

Does trade raise growth rates of commodity exporters less than those of industrial goods exporters? Do industrial … countries gain more from trade? Do world trade booms over the past two centuries help account for the widening gap between rich …, and the answer is yes to all three. World trade booms have always been associated with commodity price booms and thus with …

, but other forces mattered as well. A falling terms of trade raised the relative price of manufactures in domestic markets …

mattered as well. A falling terms of trade raised the relative price of manufactures in domestic markets, as did real exchange …

mattered as well. A falling terms of trade raised the relative price of manufactures in domestic markets, as did real exchange …