Lewis revisited: Tropical polities competing on the world market, 1830-1938

Giovanni Federico, Antonio Tena-Junguito

Research output: Contribution to journalArticle

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.

Original languageEnglish (US)
JournalEconomic History Review
DOIs
StateAccepted/In press - Jan 1 2017

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Tropical
Polity
World market
Africa
Market share
Great Depression
Asia
Wisdom
World trade
Relative prices
Slaves
Conventional
Colonies

ASJC Scopus subject areas

  • History
  • Economics and Econometrics

Cite this

Lewis revisited : Tropical polities competing on the world market, 1830-1938. / Federico, Giovanni; Tena-Junguito, Antonio.

In: Economic History Review, 01.01.2017.

Research output: Contribution to journalArticle

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