Land, Labor and Globalization in the Pre-Industrial Third World
A Third World data base documenting commodity and factor prices 1870-1940 has been collected, yielding annual time series on wage/rental ratios, land/labor ratios, the terms of trade, and other explanatory variables for: Argentina, Burma, Egypt, Japan, Korea, the Punjab, Taiwan, Thailand and Uruguay. These 9 have been added to a previously-collected data base for 10 in the so-called greater Atlantic economy: Australia, Britain, Canada, Denmark, France, Germany, Ireland, Spain, Sweden and the USA. These 19 countries form the panel data base which is used to explore the determinants of wage/rental ratios the world round between 1870 and 1940. The data offer a useful way to identify the impact of globalization on the pre-industrial Third World. This paper finds commodity price convergence to have been bigger in the Third World than the Atlantic economy. It also identifies the sources of a previously-unnoticed but enormous convergence in wage/rental ratios. Commodity price convergence and factor supply responses appear to be an important source of the relative factor price convergence in the Third World, more clearly exposed by the absence of significant industrialization and capital-deepening forces there prior to 1940.
|Date of creation:||Jul 2000|
|Date of revision:|
|Publication status:||published as Williamson, Jeffrey G. "Land, Labor, And Globalization In The Third World, 1870-1940," Journal of Economic History, 2002, v62(1,Mar), 55-85.|
|Contact details of provider:|| Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.|
Web page: http://www.nber.org
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Williamson, Jeffrey G, 1997.
"Globalization and Inequality, Past and Present,"
World Bank Research Observer,
World Bank Group, vol. 12(2), pages 117-35, August.
- Huber, J Richard, 1971. "Effect on Prices of Japan's Entry into World Commerce after 1858," Journal of Political Economy, University of Chicago Press, vol. 79(3), pages 614-28, May-June.
- Quah, Danny, 1994.
"Exploiting cross-section variation for unit root inference in dynamic data,"
Elsevier, vol. 44(1-2), pages 9-19.
- Quah, D., 1993. "Exploiting Cross Section Variation for Unit Root Inference in Dynamic Data," Papers 549, Stockholm - International Economic Studies.
- Danny Quah, 1993. "Exploiting Cross Section Variation for Unit Root Inference in Dynamic Data," FMG Discussion Papers dp171, Financial Markets Group.
- Angus Deaton, 1999.
"Commodity Prices and Growth in Africa,"
Journal of Economic Perspectives,
American Economic Association, vol. 13(3), pages 23-40, Summer.
- Pasaran, M.H. & Im, K.S. & Shin, Y., 1995.
"Testing for Unit Roots in Heterogeneous Panels,"
Cambridge Working Papers in Economics
9526, Faculty of Economics, University of Cambridge.
- O'Rourke, Kevin & Williamson, Jeffrey G., 1994. "Late Nineteenth-Century Anglo-American Factor-Price Convergence: Were Heckscher and Ohlin Right?," The Journal of Economic History, Cambridge University Press, vol. 54(04), pages 892-916, December.
- Mussa, Michael, 1979. "The two-sector model in terms of its dual : A geometric exposition," Journal of International Economics, Elsevier, vol. 9(4), pages 513-526, November.
- Ardeni, Pier Giorgio & Wright, Brian, 1992. "The Prebisch-Singer Hypothesis: A Reappraisal Independent of Stationarity Hypotheses," Economic Journal, Royal Economic Society, vol. 102(413), pages 803-12, July.
- Douglas A. Irwin, 2000. "Ohlin Versus Stolper-Samuelson?," NBER Working Papers 7641, National Bureau of Economic Research, Inc.
- Howe, Christopher, 1996. "The Origins of Japanese Trade Supremacy," University of Chicago Press Economics Books, University of Chicago Press, edition 0, number 9780226354859, July.
- Kimura, Mitsuhiko, 1993. "Standards of Living in Colonial Korea: Did the Masses Become Worse Off or Better Off Under Japanese Rule?," The Journal of Economic History, Cambridge University Press, vol. 53(03), pages 629-652, September.
- Cuddington, John T., 1992. "Long-run trends in 26 primary commodity prices : A disaggregated look at the Prebisch-Singer hypothesis," Journal of Development Economics, Elsevier, vol. 39(2), pages 207-227, October.
- Kevin H. O'Rourke & Jeffrey G. Williamson, 1999.
"The Heckscher-Ohlin Model Between 1400 and 2000: When It Explained Factor Price Convergence, When It Did Not, and Why,"
NBER Working Papers
7411, National Bureau of Economic Research, Inc.
- O'Rourke, Kevin Hjortshøj & Williamson, Jeffrey G, 2000. "The Heckscher-Ohlin Model Between 1400 and 2000: When It Explained Factor Price Convergence, When It Did Not, and Why," CEPR Discussion Papers 2372, C.E.P.R. Discussion Papers.
- O'Rourke, K.H. & Williamson, J.G., 1999. "The Heckscher-Ohlin Model Between 1400 and 2000: When it Explained Factor Price Convergence, Ehen it Did not, and Why," Papers 99/25, College Dublin, Department of Political Economy-.
- Kao, Chihwa, 1999. "Spurious regression and residual-based tests for cointegration in panel data," Journal of Econometrics, Elsevier, vol. 90(1), pages 1-44, May.
- O'Rourke, Kevin H & Taylor, Alan M & Williamson, Jeffrey G, 1996. "Factor Price Convergence in the Late Nineteenth Century," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 37(3), pages 499-530, August.
- Grilli, Enzo R & Yang, Maw Cheng, 1988. "Primary Commodity Prices, Manufactured Goods Prices, and the Terms of Trade of Developing Countries: What the Long Run Shows," World Bank Economic Review, World Bank Group, vol. 2(1), pages 1-47, January.
- Levin, Andrew & Lin, Chien-Fu & James Chu, Chia-Shang, 2002.
"Unit root tests in panel data: asymptotic and finite-sample properties,"
Journal of Econometrics,
Elsevier, vol. 108(1), pages 1-24, May.
- Tom Doan, . "LEVINLIN: RATS procedure to perform Levin-Lin-Chu test for unit roots in panel data," Statistical Software Components RTS00242, Boston College Department of Economics.
- Richard E. Baldwin & Philippe Martin, 1999. "Two Waves of Globalisation: Superficial Similarities, Fundamental Differences," NBER Working Papers 6904, National Bureau of Economic Research, Inc.
- Feige, Edgar L & Pearce, Douglas K, 1979. "The Casual Causal Relationship between Money and Income: Some Caveats for Time Series Analysis," The Review of Economics and Statistics, MIT Press, vol. 61(4), pages 521-33, November.
When requesting a correction, please mention this item's handle: RePEc:nbr:nberwo:7784. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If references are entirely missing, you can add them using this form.