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Journal of Economic Literature - Book Review

JEL Volume. 50, Issue 1 | leftPrevious Review Next Review right

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Book(s) Reviewed

Trade and Poverty: When the Third World Fell Behind by Jeffrey G. Williamson

Published By: Cambridge, Mass. and London: MIT Press
ISBN: 978-0-262-01515-8
Date of Publication: 2011


Book Review Detail

Reviewed by: Kris James Mitchener of Santa Clara University and NBER
Review DOI: 10.1257/jel.50.1.179.r16
Review Pages: 210-13

Book Review Abstract

Kris James Mitchener of Santa Clara University and NBER reviews "Trade and Poverty: When the Third World Fell Behind" by Jeffrey G. Williamson. The EconLit Abstract of the reviewed work begins: Explores the great divergence between the third world and the postindustrial West in terms of long-standing differences in trade, commodity specialization, and poverty. Discusses when the third world fell behind; the first global century up to 1913; the biggest third world terms of trade boom ever; the economics of third world growth engines and Dutch diseases; measuring third world deindustrialization and Dutch disease; an Asian deindustrialization illustration—an Indian paradox; a Middle East deindustrialization illustration—Ottoman problems; a Latin American deindustrialization illustration—Mexican exceptionalism; whether rising third world inequality during the trade boom mattered; export price volatility—another drag on third world growth; the globalization and great divergence connection; better late than never—the spread of industrialization to the poor periphery; policy response—what they did and what they should have done; and morals of the story. Williamson is Laird Bell Professor of Economics Emeritus at Harvard University and Honorary Fellow in the Department of Economics at the University of Wisconsin, Madison. Index.


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Book Review Authors

Kris James Mitchener of Santa Clara University and NBER


JEL Classifications

N10: Economic History: Macroeconomics and Monetary Economics; Growth and Fluctuations: General, International, or Comparative
N30: Economic History: Labor and Consumers, Demography, Education, Health, Welfare, Income, Religion, and Wealth: General, International, or Comparative
O10: Economic Development: General


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