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Lewis revisited: tropical polities competing on the world market, 1830-1938.
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- Author(s): Federico, Giovanni; Tena‐Junguito, Antonio
- Source:
Economic History Review. Nov2017, Vol. 70 Issue 4, p1244-1267. 24p. 2 Charts, 9 Graphs, 1 Map.- Subject Terms:
- Source:
- Additional Information
- Subject Terms:
- Subject Terms:
- Abstract: Since the seminal work by W. A. Lewis, exports of primary products have been deemed the main or sole source of growth in tropical countries before the Great Depression. However, this conventional wisdom relies on very limited evidence. This article analyses the growth of exports with a constant market share analysis for 84 tropical polities. Exports grew a lot, but less than total trade, while relative prices of tropical products remained roughly constant. We thus tentatively infer that the decline in the tropical shares of world trade reflects an insufficient demand for tropical products. Asia dealt well with these headwinds throughout the whole period, while African polities blossomed after the First World War. The loser was (South) America, and most notably the Caribbean former slave colonies, especially before 1870. [ABSTRACT FROM AUTHOR]
- Abstract: Copyright of Economic History Review is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
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