Williamson, J.G. - Harvard Institute of Economic Research (HIER), … - 1998
This paper uses a new pre-1940 Third World data base documenting real wages and relative factor prices to explore their …, and declining-transport-cost-induced commodity price convergence in particular. Real wages in Asia, the Middle East and … held their own. The ratio of wages to land rents, on the other hand, declined up to World War I, and so did the ratio of …