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Navigating in Troubled Waters: South American Exports of Food and Agricultural Products in the World Market, 1900-1938

Author

Listed:
  • Vicente Pinilla

    (Faculty of Economics and Business Studies, University of Zaragoza, Zaragoza, Spain)

  • Gema Aparicio

    (Agri-food Economic History Group, University of Zaragoza, Zaragoza, Spain)

Abstract

The present study offers a new quantitative base to analyze the evolution of exports of agricultural and food products from South America in the complicated period between 1900 and 1938. The data base has been elaborated from the information published by the International Institute of Agriculture (IIA), in those years. The paper also constructs a terms of trade series for South American agricultural exports, using the data of Grilli-Yang (1988), updated by Pfaffenzeller (2007). It is considered to be the first time of offering for this period a series for the evolution for the terms of trade in the region which takes into account in its construction the relative weight of the exports of the distinct agricultural products. An explanation is provided of the position of South America in the world market for agricultural products on the eve of the First World War. Then it is analyzed first the impact of the war on the volume of agricultural exports from the region and in second place that of the Great Depression. Finally the evolution of the terms of trade of South American agricultural exports throughout the period is analyzed..

Suggested Citation

  • 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.
    • Handle: RePEc:ahe:dtaehe:1406
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    References listed on IDEAS

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    1. Grilli, Enzo R & Yang, Maw Cheng, 1988. "Primary Commodity Prices, Manufactured Goods Prices, and the Terms of Trade of Developing Countries: What the Long Run Shows," The World Bank Economic Review, World Bank, vol. 2(1), pages 1-47, January.
    2. William Hynes & David S. Jacks & Kevin H. O'rourke, 2012. "Commodity market disintegration in the interwar period," European Review of Economic History, European Historical Economics Society, vol. 16(2), pages 119-143, May.
    3. Pinilla, Vicente & Ayuda, Maria-Isabel, 2002. "The political economy of the wine trade: Spanish exports and the international market, 1890–1935," European Review of Economic History, Cambridge University Press, vol. 6(1), pages 51-85, April.
    4. Pinilla, Vicente & Ayuda, Marã A-Isabel, 2010. "Taking advantage of globalization? Spain and the building of the international market in Mediterranean horticultural products, 1850–1935," European Review of Economic History, Cambridge University Press, vol. 14(2), pages 239-274, August.
    5. Jeffrey G. Williamson, 2008. "Globalization and the Great Divergence: Terms of Trade Booms and Volatility in the Poor Periphery 1782-1913," Working Papers 08-07, Association Française de Cliométrie (AFC).
    6. Kevin H. O'Rourke & Jeffrey G. Williamson, 2001. "Globalization and History: The Evolution of a Nineteenth-Century Atlantic Economy," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262650592, December.
    7. Stephan Pfaffenzeller & Paul Newbold & Anthony Rayner, 2007. "A Short Note on Updating the Grilli and Yang Commodity Price Index," The World Bank Economic Review, World Bank, vol. 21(1), pages 151-163.
    8. Williamson, Jeffrey G., 2011. "Trade and Poverty: When the Third World Fell Behind," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262015158, December.
    9. Jeffrey G. Williamson, 2008. "Globalization and the Great Divergence: Terms of Trade Booms and Volatility in the Poor Periphery 1782-1913," NBER Working Papers 13841, National Bureau of Economic Research, Inc.
    10. Ocampo, José Antonio & Parra-Lancourt, Mariángela, 2010. "The terms of trade for commodities since the mid-19th century," Revista de Historia Económica / Journal of Iberian and Latin American Economic History, Cambridge University Press, vol. 28(1), pages 11-43, March.
    11. César Yáñez & Rodrigo Rivero & Marc Badia-Miró & Anna Carreras-Marín, 2012. "La población de los países latinoamericanos desde el siglo XIX hasta el 2008. Ensayo de historia cuantitativa," Documentos de Trabajo (DT-AEHE) 1202, Asociación Española de Historia Económica.
    12. Jeffrey G. Williamson, 2011. "Trade and Poverty: When the Third World Fell Behind," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262015153, December.
    13. Unknown, 1928. "Rye in Its Relations to Wheat," Wheat Studies, Stanford University, Food Research Institute, vol. 4(05), pages 1-58, March.
    14. Jeffrey G. Williamson, 2006. "Globalization and the Poor Periphery before 1950," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262232502, December.
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    Cited by:

    1. Raúl Serrano & Vicente Pinilla, 2014. "New directions of trade for the agri-food industry: a disaggregated approach for different income countries, 1963–2000," Latin American Economic Review, Springer;Centro de Investigaciòn y Docencia Económica (CIDE), vol. 23(1), pages 1-22, December.
    2. Miguel Tinoco-Zermeño & Francisco Venegas-Martínez & Víctor Torres-Preciado, 2014. "Growth, bank credit, and inflation in Mexico: evidence from an ARDL-bounds testing approach," Latin American Economic Review, Springer;Centro de Investigaciòn y Docencia Económica (CIDE), vol. 23(1), pages 1-22, December.

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    More about this item

    Keywords

    Latin American Economic History; International Agrifood Trade; Great Depression.;
    All these keywords.

    JEL classification:

    • J20 - Labor and Demographic Economics - - Demand and Supply of Labor - - - General
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • N56 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - Latin America; Caribbean
    • N70 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - General, International, or Comparative
    • N76 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - Latin America; Caribbean
    • Q17 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agriculture in International Trade

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