Corn Market Integration in Porfirian Mexico
AbstractThis paper deals with a polemic and relevant aspect of the economic history of Porfirian Mexico: the integration of agricultural domestic markets. Since corn was the staple product of the commercial agricultural sector and also the main subsistence crop, it is the protagonist of this story. Panel techniques, similar to those used by Barro and Sala-i-Martín (1992), are applied to a price convergence model. Our analysis reveals that Mexico was not an exception in the international panorama of market integration in late 19th and early 20th centuries [O’Rourke and Williamson (1999)]. Although still incomplete on the eve of the Mexican Revolution, corn market integration substantially increased during the Porfiriato and ended up further than estimated by Kuntz (1995a, 1995b, 1996, 1999a and 1999b). Railroads were not only indispensable to the economic growth of Mexico, as Coatsworth (1984) showed, in particular to the export sector, but they also played a positive and significant role in the process of corn market integration.
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Bibliographic InfoPaper provided by Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales in its series Documentos del Instituto Complutense de Análisis Económico with number 0402.
Length: 16 pages
Date of creation: 2004
Date of revision:
Porfirian Mexico; Market integration; Railroads; Price convergence and panel data.;
Other versions of this item:
- N16 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Latin America; Caribbean
- N56 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - Latin America; Caribbean
- O13 - Economic Development, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
- C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
This paper has been announced in the following NEP Reports:
- NEP-ALL-2005-02-13 (All new papers)
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