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Was industrialization an escape from the commodity lottery? : evidence from Italy ; 1861 – 1939

Federico, Giovanni; Vasta, Michelangelo - In: Explorations in economic history : EEH 47 (2010) 2, pp. 228-243

Persistent link: https://www.econbiz.de/10003969137

Welfare gains of aid indexation in small open economies

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Terms of trade shocks and fiscal cycles

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On the international dimension of fiscal policy

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Globalization and the great divergence : terms of trade booms and volatility in the poor periphery 1782 - 1913

Williamson, Jeffrey G. - 2008

, modern economists argue that volatility reduces growth in the poor periphery. This paper assess these de …-industrialization and volatility forces between 1782 and 1913 during the Great Divergence. First, it argues that the new economic order had …-reducing terms of trade volatility was the other. Between 1820 and 1870, terms of trade volatility was much greater in the poor …