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Uruguay And The First Globalization: On The Accuracy Of Export Performance, 1870-1913

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  • Bonino-Gayoso, Nicolás
  • Tena-Junguito, Antonio
  • Willebald, Henry

Abstract

In order to understand Uruguay’s long-run economic evolution it becomes crucial to interpret its export performance during the First Globalization. The lack of accuracy of official figures, especially official prices used, calls for an adjustment of Uruguayan export series. We have used empirical evidence to test the accuracy of quantities and values of export records, first, according to import partners’ records and, second, according to international market prices. Results show a general undervaluation of official export values during the period along with severe distortions in the registers caused by transit trade. We reconstructed new Uruguayan export f.o.b values and an export price index which present a more unstable and less dynamic export evolution than that of neighbouring Argentina.

Suggested Citation

  • Bonino-Gayoso, Nicolás & Tena-Junguito, Antonio & Willebald, Henry, 2015. "Uruguay And The First Globalization: On The Accuracy Of Export Performance, 1870-1913," Revista de Historia Económica, Cambridge University Press, vol. 33(02), pages 287-320, September.
  • Handle: RePEc:cup:reveco:v:33:y:2015:i:02:p:287-320_00
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    References listed on IDEAS

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    1. David Hummels & Alexandre Skiba, 2004. "Shipping the Good Apples Out? An Empirical Confirmation of the Alchian-Allen Conjecture," Journal of Political Economy, University of Chicago Press, vol. 112(6), pages 1384-1402, December.
    2. Borcherding, Thomas E & Silberberg, Eugene, 1978. "Shipping the Good Apples Out: The Alchian and Allen Theorem Reconsidered," Journal of Political Economy, University of Chicago Press, vol. 86(1), pages 131-138, February.
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    Cited by:

    1. Matias Piaggio & Emilio Padilla & Carolina Roman, 2015. "The long-run relationshiop between C02 emissions and economic activity in a small open economy: Uruguay 1882-2010," Working Papers wpdea1506, Department of Applied Economics at Universitat Autonoma of Barcelona.
    2. Vicente Pinilla & Agustina Rayes, 2017. "Why did Argentina become a super-exporter of agricultural and food products during the Belle Époque (1880-1929)?," Working Papers 0107, European Historical Economics Society (EHES).
    3. repec:gam:jsusta:v:10:y:2018:i:3:p:715-:d:134945 is not listed on IDEAS
    4. Michel Fouquin & Jules Hugot, 2016. "Two Centuries of Bilateral Trade and Gravity data: 1827-2014," VNIVERSITAS ECONÓMICA 015129, UNIVERSIDAD JAVERIANA - BOGOTÁ.
    5. repec:eee:eneeco:v:65:y:2017:i:c:p:271-282 is not listed on IDEAS

    More about this item

    JEL classification:

    • N76 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - Latin America; Caribbean
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade

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