Factor Endowments, Trade Direction, and Growth Performances of the Americas and East Asia in the Nineteenth and Twentieth Centuries
Factor-endowment based trade with the leading economy helps to explain the differing development performances of the Americas and East Asia in the past two centuries. Between 1830 and 1945, labor-abundant Britain, the most advanced country, traded heavily with land-abundant countries in the Americas, the U.S. in particular. The latter were able to grow faster than was most of East Asia. After WWII, however, with Britain’s decline and the rise of the land-abundant U.S., labor-abundant East Asia traded more heavily with the U.S. and thus engineered faster growth than did land-abundant Latin America. Factor-endowment based trade and economic ties with the secondary advanced economy (first the U.S. and then Japan) played important roles in the pre-WWII growth of Japan, Southeast Asia's growth in the 1970s and the 1980s, and its economic crisis in the mid-1990s.
|Date of creation:||22 Oct 1997|
|Date of revision:||17 Jun 1998|
|Note:||A revised version; an old and longer version was posted in 10/97. Type of Document - MS Word 6.0 for Win95 or later version; prepared on IBM PC ; to print on HP ; pages: 38 ; figures: 8 tables.|
|Contact details of provider:|| Web page: http://econwpa.repec.org|
References listed on IDEAS
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.:
- Ito, Takatoshi & Krueger, Anne O. (ed.), 1995. "Growth Theories in Light of the East Asian Experience," National Bureau of Economic Research Books, University of Chicago Press, edition 1, number 9780226386706.
- Jeffrey D. Sachs & Andrew M. Warner, 1995.
"Natural Resource Abundance and Economic Growth,"
NBER Working Papers
5398, National Bureau of Economic Research, Inc.
- Dollar, David, 1992. "Outward-Oriented Developing Economies Really Do Grow More Rapidly: Evidence from 95 LDCs, 1976-1985," Economic Development and Cultural Change, University of Chicago Press, vol. 40(3), pages 523-544, April.
- Prebisch, Raúl, 1950. "The economic development of Latin America and its principal problems," Sede de la CEPAL en Santiago (Estudios e Investigaciones) 29973, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
- Lee, Chung H & Naya, Seiji, 1988. "Trade in East Asian Development with Comparative Reference to Southeast Asian Experiences," Economic Development and Cultural Change, University of Chicago Press, vol. 36(3), pages 123-152, Supplemen.
- Oshima, Harry T, 1988. "Human Resources in East Asia's Secular Growth," Economic Development and Cultural Change, University of Chicago Press, vol. 36(3), pages 103-122, Supplemen.
- Leamer, Edward E, 1980. "The Leontief Paradox, Reconsidered," Journal of Political Economy, University of Chicago Press, vol. 88(3), pages 495-503, June.
- Balassa, Bela, 1978. "Exports and economic growth : Further evidence," Journal of Development Economics, Elsevier, vol. 5(2), pages 181-189, June.
- Cuddington, John T & Urzua, Carlos M, 1989. "Trends and Cycles in the Net Barter Terms of Trade: A New Approach," Economic Journal, Royal Economic Society, vol. 99(396), pages 426-442, June.
- Harry P. Bowen & Edward E. Leamer & Leo Sveikauskas, 1986.
"Multicountry, Multifactor Tests of the Factor Abundance Theory,"
NBER Working Papers
1918, National Bureau of Economic Research, Inc.
- Bowen, Harry P & Leamer, Edward E & Sveikauskas, Leo, 1987. "Multicountry, Multifactor Tests of the Factor Abundance Theory," American Economic Review, American Economic Association, vol. 77(5), pages 791-809, December.
- Young, Alwyn, 1994. "Lessons from the East Asian NICS: A contrarian view," European Economic Review, Elsevier, vol. 38(3-4), pages 964-973, April.
When requesting a correction, please mention this item's handle: RePEc:wpa:wuwpdc:9710004. 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: (EconWPA)
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 references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link 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 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.