IDEAS home Printed from https://ideas.repec.org/p/ucm/doicae/0402.html
   My bibliography  Save this paper

Corn Market Integration in Porfirian Mexico

Author

Abstract

This paper deals with a polemic and relevant aspect of the economic history of Porfirian Mexico: the integration of agricultural domestic markets. Since corn was the staple product of the commercial agricultural sector and also the main subsistence crop, it is the protagonist of this story. Panel techniques, similar to those used by Barro and Sala-i-Martín (1992), are applied to a price convergence model. Our analysis reveals that Mexico was not an exception in the international panorama of market integration in late 19th and early 20th centuries [O’Rourke and Williamson (1999)]. Although still incomplete on the eve of the Mexican Revolution, corn market integration substantially increased during the Porfiriato and ended up further than estimated by Kuntz (1995a, 1995b, 1996, 1999a and 1999b). Railroads were not only indispensable to the economic growth of Mexico, as Coatsworth (1984) showed, in particular to the export sector, but they also played a positive and significant role in the process of corn market integration.

Suggested Citation

  • Rafael Dobado González & Gustavo A. Marrero, 2004. "Corn Market Integration in Porfirian Mexico," Documentos de Trabajo del ICAE 0402, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales, Instituto Complutense de Análisis Económico.
    • Handle: RePEc:ucm:doicae:0402
    as

    Download full text from publisher

    File URL: http://eprints.ucm.es/7716/1/0402.pdf
    Download Restriction: no

    Other versions of this item:

    References listed on IDEAS

    as
    1. Esquivel, Gerardo, 1999. "Convergencia regional en México, 1940-1995," El Trimestre Económico, Fondo de Cultura Económica, vol. 0(264), pages 725-761, : octubre.
    2. Ejrnaes, Mette & Persson, Karl Gunnar, 2000. "Market Integration and Transport Costs in France 1825-1903: A Threshold Error Correction Approach to the Law of One Price," Explorations in Economic History, Elsevier, vol. 37(2), pages 149-173, April.
    3. Robert J. Barro, 2013. "Inflation and Economic Growth," Annals of Economics and Finance, Society for AEF, vol. 14(1), pages 121-144, May.
    4. Ronald Findlay & Kevin H. O'Rourke, 2003. "Commodity Market Integration, 1500-2000," NBER Chapters,in: Globalization in Historical Perspective, pages 13-64 National Bureau of Economic Research, Inc.
    5. Coatsworth, John H., 1979. "Indispensable Railroads in a Backward Economy: The Case of Mexico," The Journal of Economic History, Cambridge University Press, vol. 39(04), pages 939-960, December.
    6. Hausman, Jerry, 2015. "Specification tests in econometrics," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 38(2), pages 112-134.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Dan Bogart & Latika Chaudhary & Alfonso Herranz-Loncan, 2015. "The Growth Contribution of Colonial Indian Railways in Comparative Perspective," CEH Discussion Papers 033, Centre for Economic History, Research School of Economics, Australian National University.
    2. Christian Dreger & Konstantin Kholodilin & Kirsten Lommatzsch & Jirka Slacalek & Przemyslaw Wozniak, 2007. "Price convergence in the enlarged internal market," European Economy - Economic Papers 2008 - 2015 292, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    3. Mario J. Crucini & Gregor W. Smith, 2016. "Distance and Time Effects in Swedish Commodity Prices, 1732-1914," Working Papers 1357, Queen's University, Department of Economics.
    4. Studer, Roman, 2008. "India and the Great Divergence: Assessing the Efficiency of Grain Markets in Eighteenth- and Nineteenth-Century India," The Journal of Economic History, Cambridge University Press, vol. 68(02), pages 393-437, June.
    5. Mario J. Crucini & Gregor W. Smith, 2014. "Geographic Barriers to Commodity Price Integration: Evidence from US Cities and Swedish Towns, 1732 - 1860," CAMA Working Papers 2014-75, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    6. José Aguilar-Retureta, 2015. "Regional income distribution in Mexico: new long-term evidence, 1895-2010," UB Economics Working Papers 2015/323, Universitat de Barcelona, Facultat d'Economia i Empresa, UB Economics.
    7. Bhar, Ramaprasad & Nikolova, Biljana, 2013. "Measuring the interconnectedness of financial institutions," Economic Systems, Elsevier, vol. 37(1), pages 17-29.
    8. Aurora Gómez Galvarriato & Jeffrey G. Williamson, 2008. "Was It Prices, Productivity or Policy? The Timing and Pace of Latin American Industrialization after 1870," NBER Working Papers 13990, National Bureau of Economic Research, Inc.
    9. Andrabi, Tahir & Kuehlwein, Michael, 2010. "Railways and Price Convergence in British India," The Journal of Economic History, Cambridge University Press, vol. 70(02), pages 351-377, June.
    10. Chilosi, David & Volckart, Oliver, 2009. "Money, states and empire: financial integration cycles and institutional change in Central Europe, 1400-1520," Economic History Working Papers 27884, London School of Economics and Political Science, Department of Economic History.
    11. Federico, Giovanni, 2007. "Market integration and market efficiency: The case of 19th century Italy," Explorations in Economic History, Elsevier, vol. 44(2), pages 293-316, April.
    12. Herranz-Loncan, Alfonso, 2011. "The contribution of railways to economic growth in Latin America before 1914: a growth accounting approach," MPRA Paper 33578, University Library of Munich, Germany.
    13. Carson, Scott Alan, 2007. "Mexican body mass index values in the late-19th-century American West," Economics & Human Biology, Elsevier, vol. 5(1), pages 37-47, March.

    More about this item

    Keywords

    Porfirian Mexico; Market integration; Railroads; Price convergence and panel data.;

    JEL classification:

    • N16 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Latin America; Caribbean
    • N56 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - Latin America; Caribbean
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ucm:doicae:0402. 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: (Águeda González Abad) or () or (). General contact details of provider: http://edirc.repec.org/data/feucmes.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.