TY  - JOUR
AU  - Galvarriato,Aurora Gómez
AU  - Williamson,Jeffrey G.
TI  - Was It Prices, Productivity or Policy? The Timing and Pace of Latin American Industrialization after 1870
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 13990
PY  - 2008
Y2  - May 2008
UR  - http://www.nber.org/papers/w13990
L1  - http://www.nber.org/papers/w13990.pdf
N1  - Author contact info:
Aurora Gomez
Division of Economics CIDE
Lomas de Sta. Santa Fe 12010
Mexico D.F. Mexico
E-Mail: aurora.gomez@amadeus.cide.edu

Jeffrey G. Williamson
350 South Hamilton Street #1002
Madison, WI 53703
Tel: 608-441-0023
Fax: 608-204-0783
E-Mail: jwilliam@fas.harvard.edu
M2  - featured in NBER digest on 2008-11-01
AB  - Brazil, Mexico and a few other Latin American republics enjoyed faster industrialization after 1870 than did the rest of Latin America and even faster than the rest of the poor periphery (except East Asia). How much of this economic performance was due to more accommodating institutions and greater political stability, changes that would have facilitated greater technology transfer and accumulation? That is, how much to changing fundamentals?  How much instead to a cessation in the secular rise in the net barter terms of trade which reversed de-industrialization forces, thus favoring manufacturing? How much instead to cheaper foodstuffs coming from more open commercial policies ('grain invasions'), and from railroad-induced integration of domestic grain markets, serving to keep urban grain prices and thus nominal wages in industry low, helping to maintain competitiveness? How much instead to more pro-industrial real exchange rate and tariff policy? Which of these forces contributed most to industrialization among the Latin American leaders, long before their mid 20th century adoption of ISI policies? Changing fundamentals, changing market conditions, or changing policies?
ER  -