Trade and poverty
Subtitle: when the third world fell behind
By: Jeffrey G. Williamson
Edition: 1st MIT Press pbk. ed.
Publisher: MIT Press
Published: 2013
Place of publication: Cambridge, Mass
Language: eng
Number of pages: 301
ISBN-13: 9780262518598
Subjects: Industries; Commerce; Poverty; Economic conditions; Deindustrialization; Regional disparities; History
Description: Today's wide economic gap between the postindustrial countries of the West and the poorer countries of the third world is not new. Fifty years ago, the world economic order -- two hundred years in the making -- was already characterized by a vast difference in per capita income between rich and poor countries and by the fact that poor countries exported commodities (agricultural or mineral products) while rich countries exported manufactured products. In Trade and Poverty, leading economic historian Jeffrey G. Williamson traces the great divergence between the third world and the West to this nexus of trade, commodity specialization, and poverty. Analyzing the role of specialization, de-industrialization, and commodity price volatility with econometrics and case studies of India, Ottoman Turkey, and Mexico, Williamson demonstrates why the close correlation between trade and poverty emerged.
Notes: Includes bibliographical references (pages 251-280) and index.
Table of contents: title: When the Third World fell behind; title: The first global century up to 1913; title: Biggest Third World terms of trade boom ever?; title: The economics of Third World growth engines and Dutch diseases; title: Measuring Third World de-industrialization and Dutch disease; title: An Asian de-industrialization illustration : an Indian paradox?; title: A Middle East de-industrialization illustration : Ottoman problems; title: A Latin American de-industrialization illustration : Mexican exceptionalism; title: Rising Third World inequality during the trade boom : did it matter?; title: Export price volatility : another drag on Third World growth?; title: Tying the knot : the globalization and great divergence connection; title: Better late than never : industrialization spreads to the poor periphery; title: Policy response : what did they do? What should they have done?; title: Morals of the story.