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Globalization and the Poor Periphery before 1950

Author

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  • Jeffrey G. Williamson

    () (Harvard University)

Abstract

In Globalization and the Poor Periphery before 1950 Jeffrey Williamson examines globalization through the lens of both the economist and the historian, analyzing its economic impact on industrially lagging poor countries in the nineteenth and early twentieth centuries. Williamson argues that industrialization in the core countries of northwest Europe and their overseas settlements, combined with a worldwide revolution in transportation, created an antiglobal backlash in the periphery, the poorer countries of eastern and southern Europe, the Middle East, Africa, Asia, and Latin America. During the "first global century," from about 1820 to 1913, and the antiglobal autarkic interwar period from 1914 to 1940, new methods of transportation integrated world commodity markets and caused a boom in trade between the core and the periphery. Rapid productivity growth, which lowered the price of manufactured goods, led to a soaring demand in the core countries for raw materials supplied by the periphery. When the boom turned into bust, after almost a century and a half, the gap in living standards between the core and the periphery was even wider than it had been at the beginning of the cycle. The periphery, argues Williamson, obeyed the laws of motion of the international economy. Synthesizing and summarizing fifteen years of Williamson's pioneering work on globalization, the book documents these laws of motion in the periphery, assesses their distribution and growth consequences, and examines the response of trade policy in these regions.

Suggested Citation

  • Jeffrey G. Williamson, 2006. "Globalization and the Poor Periphery before 1950," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262232502, January.
  • Handle: RePEc:mtp:titles:0262232502
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Haiwen Zhou, 2014. "International Trade with Increasing Returns in the Transportation Sector," Frontiers of Economics in China, Higher Education Press, vol. 9(4), pages 606-633, December.
    2. 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.
    3. Haiwen Zhou, 2013. "Linkage Effects, Oligopolistic Competition, and Core-periphery," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 39(1), pages 93-110.
    4. Jeffrey G. Williamson, 2009. "Five Centuries of Latin American Inequality," NBER Working Papers 15305, National Bureau of Economic Research, Inc.
    5. Breinlich, Holger & Ottaviano, Gianmarco I.P. & Temple, Jonathan R.W., 2014. "Regional Growth and Regional Decline," Handbook of Economic Growth,in: Handbook of Economic Growth, edition 1, volume 2, chapter 4, pages 683-779 Elsevier.
    6. Jerven, Morten & Austin, Gareth & Green, Erik & Uche, Chibuike & Frankema, Ewout & Fourie, Johan & Inikori, Joseph & Moradi, Alexander & Hillbom, Ellen, 2012. "Moving Forward in African Economic History. Bridging the Gap Between Methods and Sources," Lund Papers in Economic History 124, Lund University, Department of Economic History.
    7. Jacks, David S. & Meissner, Christopher M. & Novy, Dennis, 2011. "Trade booms, trade busts, and trade costs," Journal of International Economics, Elsevier, pages 185-201.
    8. Haiwen Zhou, 2010. "Oligopolistic Competition, Firm Heterogeneity, and the Impact of International Trade," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 36(1), pages 107-119.
    9. 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.
    10. Jeffrey G. Williamson, 2010. "Latin American Growth-Inequality Trade-Offs: The Impact of Insurgence and Independence," NBER Working Papers 15680, National Bureau of Economic Research, Inc.
    11. Rui Esteves & João Tovar Jalles, 2016. "Like Father Like Sons? The Cost of Sovereign Defaults in Reduced Credit to the Private Sector," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 48(7), pages 1515-1545, October.
    12. repec:got:cegedp:81 is not listed on IDEAS
    13. Jeffrey G. Williamson, 2009. "History without Evidence: Latin American Inequality since 1491," Courant Research Centre: Poverty, Equity and Growth - Discussion Papers 3, Courant Research Centre PEG.
    14. 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, Asociacion Espa–ola de Historia Economica.
    15. Manuel Llorca-Jaña, 2014. "The impact of early nineteenth-century globalization on foreign trade in the Southern Cone: A study of British trade statistics," Investigaciones de Historia Económica (IHE) Journal of the Spanish Economic History Association, Asociacion Espa–ola de Historia Economica, vol. 10(01), pages 46-56.
    16. Calixto Salomão Filho, 2015. "Monopolies and Underdevelopment," Books, Edward Elgar Publishing, number 16587, April.
    17. repec:esx:essedp:729 is not listed on IDEAS
    18. Álvaro Aguirre, 2013. "Rebellions, Technical Change, and the Early Development of Political Institutions in Latin America," Working Papers Central Bank of Chile 688, Central Bank of Chile.
    19. Williamson, Jeffrey G., 2009. "History without evidence: Latin American inequality since 1491," Center for European, Governance and Economic Development Research Discussion Papers 81, University of Goettingen, Department of Economics.
    20. Huff, Gregg & Angeles, Luis, 2011. "Globalization, industrialization and urbanization in Pre-World War II Southeast Asia," Explorations in Economic History, Elsevier, vol. 48(1), pages 20-36, January.
    21. Clingingsmith, David & Williamson, Jeffrey G., 2008. "Deindustrialization in 18th and 19th century India: Mughal decline, climate shocks and British industrial ascent," Explorations in Economic History, Elsevier, vol. 45(3), pages 209-234, July.
    22. Jeffrey G. Williamson, 2015. "Latin American Inequality: Colonial Origins, Commodity Booms, or a Missed 20th Century Leveling?," NBER Working Papers 20915, National Bureau of Economic Research, Inc.
    23. Michael Kopsidis, 2012. "Missed Opportunity or Inevitable Failure? The Search for Industrialization in Southeast Europe 1870-1940," Working Papers 0019, European Historical Economics Society (EHES).
    24. Rui P. Esteves, 2011. "The Political Economy of Global Financial Liberalisation in Historical Perspective," Oxford University Economic and Social History Series _089, Economics Group, Nuffield College, University of Oxford.

    More about this item

    Keywords

    globalization; poor periphery;

    JEL classification:

    • N0 - Economic History - - General
    • F02 - International Economics - - General - - - International Economic Order and Integration

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