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

Author

Listed:
  • 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 / Journal of Iberian and Latin American Economic History, Cambridge University Press, vol. 33(2), pages 287-320, September.
    • Handle: RePEc:cup:reveco:v:33:y:2015:i:02:p:287-320_00
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    Cited by:

    1. Matias Piaggio & Emilio Padilla & Carolina Roman, 2015. "The long-run relationship between CO2 emissions and economic activity in a small open economy: Uruguay 1882 - 2010," Documentos de Trabajo (working papers) 15-11, Instituto de Economía - IECON.
    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. Silvana Sandonato & Henry Willebald, 2018. "Natural Capital, Domestic Product and Proximate Causes of Economic Growth: Uruguay in the Long Run, 1870–2014," Sustainability, MDPI, vol. 10(3), pages 1-26, March.
    4. Michel Fouquin & Jules Hugot, 2016. "Two Centuries of Bilateral Trade and Gravity data: 1827-2014," Vniversitas Económica, Universidad Javeriana - Bogotá, vol. 0(0), pages 1-39.
    5. Emiliano Travieso, 2023. "Soils, scale, or elites? Biological innovation in Uruguayan cattle farming, 1880–1913," Economic History Review, Economic History Society, vol. 76(2), pages 498-524, May.
    6. Piaggio, Matías & Padilla, Emilio & Román, Carolina, 2017. "The long-term relationship between CO2 emissions and economic activity in a small open economy: Uruguay 1882–2010," Energy Economics, Elsevier, vol. 65(C), pages 271-282.
    7. Carolina Román & Henry Willebald, 2024. "The structural and historical relevance of services in Uruguay. A long run approach (1870-2020)," Documentos de Trabajo (working papers) 24-09, Instituto de Economía - IECON.

    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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