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Globalization and the Poor Periphery before 1950

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  • Jeffrey G. Williamson

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    (Harvard University)

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    Abstract

    In Globalization and the Poor Periphery before 1950 Jeffrey Williamson examines globalization through the lens of both the economist and the historian, analyzing its economic impact on industrially lagging poor countries in the nineteenth and early twentieth centuries. Williamson argues that industrialization in the core countries of northwest Europe and their overseas settlements, combined with a worldwide revolution in transportation, created an antiglobal backlash in the periphery, the poorer countries of eastern and southern Europe, the Middle East, Africa, Asia, and Latin America. During the "first global century," from about 1820 to 1913, and the antiglobal autarkic interwar period from 1914 to 1940, new methods of transportation integrated world commodity markets and caused a boom in trade between the core and the periphery. Rapid productivity growth, which lowered the price of manufactured goods, led to a soaring demand in the core countries for raw materials supplied by the periphery. When the boom turned into bust, after almost a century and a half, the gap in living standards between the core and the periphery was even wider than it had been at the beginning of the cycle. The periphery, argues Williamson, obeyed the laws of motion of the international economy. Synthesizing and summarizing fifteen years of Williamson's pioneering work on globalization, the book documents these laws of motion in the periphery, assesses their distribution and growth consequences, and examines the response of trade policy in these regions.

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    Bibliographic Info

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    This book is provided by The MIT Press in its series MIT Press Books with number 0262232502 and published in 2006.

    Volume: 1
    Edition: 1
    ISBN: 0-262-23250-2
    Handle: RePEc:mtp:titles:0262232502

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    Web page: http://mitpress.mit.edu

    Related research

    Keywords: globalization; poor periphery;

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    Cited by:
    1. Rui P. Esteves, 2011. "The Political Economy of Global Financial Liberalisation in Historical Perspective," Oxford University Economic and Social History Series _089, Economics Group, Nuffield College, University of Oxford.
    2. Holger Breinlich & Gianmarco I. P. Ottaviano & Jonathan R. W. Temple, 2013. "Regional Growth and Regional Decline," CEP Discussion Papers dp1232, Centre for Economic Performance, LSE.
    3. Jeffrey G. Williamson, 2010. "Latin American Growth-Inequality Trade-Offs: The Impact of Insurgence and Independence," NBER Working Papers 15680, National Bureau of Economic Research, Inc.
    4. Jerven , Morten & Austin , Gareth & Green, Erik & Uche , Chibuike & Frankema , Ewout & Fourie , Johan & Inikori , Joseph & Moradi , Alexander & Hillbom , Ellen, 2012. "Moving Forward in African Economic History: Bridging the Gap Between Methods and Sources," African Economic History Working Paper 1/2012, African Economic History Network.
    5. Manuel Llorca-Jaña, 2014. "The impact of early nineteenth-century globalization on foreign trade in the Southern Cone: A study of British trade statistics," Investigaciones de Historia Económica (IHE) Journal of the Spanish Economic History Association, Asociación Española de Historia Económica, vol. 10(01), pages 46-56.
    6. Huff, Gregg & Angeles, Luis, 2011. "Globalization, industrialization and urbanization in Pre-World War II Southeast Asia," Explorations in Economic History, Elsevier, vol. 48(1), pages 20-36, January.
    7. Jacks, David S; Meissner, Christopher; Novy, Dennis, 2010. "Trade Booms, Trade Busts and Trade Costs," CAGE Online Working Paper Series 33, Competitive Advantage in the Global Economy (CAGE).
    8. Jeffrey G. Williamson, 2009. "History without Evidence: Latin American Inequality since 1491," Courant Research Centre: Poverty, Equity and Growth - Discussion Papers 3, Courant Research Centre PEG.
    9. Williamson, Jeffrey G., 2009. "History without evidence: Latin American inequality since 1491," Center for European, Governance and Economic Development Research Discussion Papers 81, University of Goettingen, Department of Economics.
    10. Clingingsmith, David & Williamson, Jeffrey G., 2008. "Deindustrialization in 18th and 19th century India: Mughal decline, climate shocks and British industrial ascent," Explorations in Economic History, Elsevier, vol. 45(3), pages 209-234, July.
    11. Álvaro Aguirre, 2013. "Rebellions, Technical Change, and the Early Development of Political Institutions in Latin America," Working Papers Central Bank of Chile 688, Central Bank of Chile.
    12. Jeffrey G. Williamson, 2009. "Five Centuries of Latin American Inequality," NBER Working Papers 15305, National Bureau of Economic Research, Inc.
    13. Vicente Pinilla & Gema Aparicio, 2014. "Navigating in Troubled Waters: South American Exports of Food and Agricultural Products in the World Market, 1900-1938," Documentos de Trabajo (DT-AEHE) 1406, Asociación Española de Historia Económica.
    14. Michael Kopsidis, 2012. "Missed Opportunity or Inevitable Failure? The Search for Industrialization in Southeast Europe 1870-1940," Working Papers 0019, European Historical Economics Society (EHES).

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