The Periphery’s Terms of Trade in the Nineteenth Century: A Methodological Problem Revisited
There is a major downward bias in the trend of most existing estimates of the periphery’s nineteenth-century terms of trade. By using prices from the North Atlantic core as proxies for prices in the peripheral countries themselves, historians ignore the dramatic price convergence that took place dur...
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ftmpra:oai:mpra.ub.uni-muenchen.de:57934 2024-09-15T18:23:07+00:00 The Periphery’s Terms of Trade in the Nineteenth Century: A Methodological Problem Revisited Francis, Joseph A. 2014-08 application/pdf https://mpra.ub.uni-muenchen.de/57934/ https://mpra.ub.uni-muenchen.de/57934/1/MPRA_paper_57934.pdf en eng https://mpra.ub.uni-muenchen.de/57934/1/MPRA_paper_57934.pdf Francis, Joseph A. (2014): The Periphery’s Terms of Trade in the Nineteenth Century: A Methodological Problem Revisited. C0 - General F6 - Economic Impacts of Globalization N10 - General International or Comparative MPRA Paper NonPeerReviewed 2014 ftmpra 2024-07-31T03:25:11Z There is a major downward bias in the trend of most existing estimates of the periphery’s nineteenth-century terms of trade. By using prices from the North Atlantic core as proxies for prices in the peripheral countries themselves, historians ignore the dramatic price convergence that took place during the nineteenth century. This has been reflected in Jeffrey Williamson’s recent work. Measured correctly, the periphery’s nineteenth-century terms-of-trade boom would appear considerably longer, greater, and more widespread than Williamson has suggested. His grand narrative about the relation between globalisation and the ‘great divergence’ would therefore be greatly reinforced. Many of the details of his narrative would, however, need to be revised. This is illustrated by the case of India. Report North Atlantic Munich Personal RePEc Archive (MPRA - Ludwig-Maximilians-University Munich) |
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Munich Personal RePEc Archive (MPRA - Ludwig-Maximilians-University Munich) |
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ftmpra |
language |
English |
topic |
C0 - General F6 - Economic Impacts of Globalization N10 - General International or Comparative |
spellingShingle |
C0 - General F6 - Economic Impacts of Globalization N10 - General International or Comparative Francis, Joseph A. The Periphery’s Terms of Trade in the Nineteenth Century: A Methodological Problem Revisited |
topic_facet |
C0 - General F6 - Economic Impacts of Globalization N10 - General International or Comparative |
description |
There is a major downward bias in the trend of most existing estimates of the periphery’s nineteenth-century terms of trade. By using prices from the North Atlantic core as proxies for prices in the peripheral countries themselves, historians ignore the dramatic price convergence that took place during the nineteenth century. This has been reflected in Jeffrey Williamson’s recent work. Measured correctly, the periphery’s nineteenth-century terms-of-trade boom would appear considerably longer, greater, and more widespread than Williamson has suggested. His grand narrative about the relation between globalisation and the ‘great divergence’ would therefore be greatly reinforced. Many of the details of his narrative would, however, need to be revised. This is illustrated by the case of India. |
format |
Report |
author |
Francis, Joseph A. |
author_facet |
Francis, Joseph A. |
author_sort |
Francis, Joseph A. |
title |
The Periphery’s Terms of Trade in the Nineteenth Century: A Methodological Problem Revisited |
title_short |
The Periphery’s Terms of Trade in the Nineteenth Century: A Methodological Problem Revisited |
title_full |
The Periphery’s Terms of Trade in the Nineteenth Century: A Methodological Problem Revisited |
title_fullStr |
The Periphery’s Terms of Trade in the Nineteenth Century: A Methodological Problem Revisited |
title_full_unstemmed |
The Periphery’s Terms of Trade in the Nineteenth Century: A Methodological Problem Revisited |
title_sort |
periphery’s terms of trade in the nineteenth century: a methodological problem revisited |
publishDate |
2014 |
url |
https://mpra.ub.uni-muenchen.de/57934/ https://mpra.ub.uni-muenchen.de/57934/1/MPRA_paper_57934.pdf |
genre |
North Atlantic |
genre_facet |
North Atlantic |
op_relation |
https://mpra.ub.uni-muenchen.de/57934/1/MPRA_paper_57934.pdf Francis, Joseph A. (2014): The Periphery’s Terms of Trade in the Nineteenth Century: A Methodological Problem Revisited. |
_version_ |
1810463249323261952 |