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What T. R. Took: The Economic Impact of the Panama Canal, 1903–1937

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  • MAURER, NOEL
  • YU, CARLOS

Abstract

The Panama Canal was one of the largest public investments of its time. In the first decade of its operation, the canal produced significant social returns for the United States. Most of these returns were due to the transportation of petroleum from California to the East Coast. The United States also succeeded in leveraging the threat of military force to obtain a much better deal from the Panamanian government than it could have negotiated otherwise.“I took the Isthmus.†President Theodore Roosevelt, 1904“Why, it's ours, we stole it fair and square.†Senator Samuel Hayakawa, 1977

Suggested Citation

  • Maurer, Noel & Yu, Carlos, 2008. "What T. R. Took: The Economic Impact of the Panama Canal, 1903–1937," The Journal of Economic History, Cambridge University Press, vol. 68(3), pages 686-721, September.
    • Handle: RePEc:cup:jechis:v:68:y:2008:i:03:p:686-721_00
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    Cited by:

    1. Jules Hugot & Camilo Umana Dajud, 2016. "Trade costs and the Suez and Panama Canals," Working Papers 2016-29, CEPII research center.
    2. Stephan Maurer & Ferdinand Rauch, 2023. "Economic geography aspects of the Panama Canal," Oxford Economic Papers, Oxford University Press, vol. 75(1), pages 142-162.
    3. Petko Atanasov & Jean-Guy Degos, 2022. "The Relative Nature of Success and Failure – Function of Time and Context," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 5, pages 46-70.

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