Market Power and Commodity Prices: Brazil, Chile and the United States, 1820s-1930
The paper focuses on market power by certain countries in specific commodity markets as a crucial factor in explaining the level of protection. It is argued that a country which is a price maker in the world market of a specific commodity might affect its world price through export taxes, import taxes and commodity stockpiling. Standard reduced form equations were estimated to test if significant market shares in international markets of Brazilian coffee, Chilean saltpetre and US cotton implied domestic variables were relevant for the determination of the corresponding world commodity prices. Results suggest the producers succeeded in passing through increases in internal costs to the relevant world commodity price.
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- Juan Braun-Llona & Matías Braun-Llona & Ignacio Briones & José Díaz & Rolf Lüders & Gert Wagner, . "Economía Chilena 1810-1995. Estadísticas Históricas," Documentos de Trabajo 187, Instituto de Economia. Pontificia Universidad Católica de Chile..
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"The optimal tax on antebellum US cotton exports,"
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- José Díaz & Gert Wagner, 2004. "Política Comercial: Instrumentos y Antecedentes. Chile en los Siglos XIX y XX," Documentos de Trabajo 223, Instituto de Economia. Pontificia Universidad Católica de Chile..
- Harley, C. Knick, 1992.
"The antebellum American tariff: Food exports and manufacturing,"
Explorations in Economic History,
Elsevier, vol. 29(4), pages 375-400, October.
- Harley, C.K., 1991. "The Antebellum American Tariff : Food Exports and Manufacturing," UWO Department of Economics Working Papers 9105, University of Western Ontario, Department of Economics.
- Marcelo de Paiva Abreu, 2004. "The Political Economy of High Protection in Brazil before 1987," IDB Publications (Working Papers) 9375, Inter-American Development Bank.
- Rolf Lüders & Gert Wagner, 2003. "Export Tariff, Welfare and Public Finance: Nitrates from 1880 to 1930," Documentos de Trabajo 241, Instituto de Economia. Pontificia Universidad Católica de Chile..
- James, John A, 1981. "The Optimal Tariff in the Antebellum United States," American Economic Review, American Economic Association, vol. 71(4), pages 726-34, September.
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