Agricultural Crises And The International Transmission Of The Great Depression
AbstractThis article examines the role of the agricultural crisis in the international transmission of the Great Depression and assesses the direct and indirect macroeconomic effects of the agricultural price decline. Using panel data for 16 countries, it is shown that the decline in agricultural prices adversely affected the general price level, consumption and investment. Furthermore, it is shown that the agricultural price decline was an important vehicle by which the Depression was transmitted internationally.
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Bibliographic InfoArticle provided by Cambridge University Press in its journal The Journal of Economic History.
Volume (Year): 61 (2001)
Issue (Month): 02 (June)
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