Commodity Prices over Two Centuries:
Resource Curse, De-Industrialization, Volatility and Development
Most countries in the periphery have specialized in the export of just a
handful of primary products for most of their history. Many shed this
specialization in the 20th century and moved in to the export of
manufactures and services. Some, especially in Africa, have not. Given
the recent boom and bust in commodity prices, it might be a good time
for economic historians to reassess commodity price experience and
impact since the early 19th century. What has been the impact of
commodity specialization? Did commodity price booms foster
de-industrialization, and price busts industrialization? Have
commodities always been more price volatile in the short run than
manufactures, and has that fact inhibited growth in the commodity
exporters? Does commodity specialization foster inequality, anti-growth
institutions and thus a resource curse? Were 19th and 20th century trade
debates well informed on these issues and did policy reflect that fact?
Was commodity price history the same in Eastern and Southern Europe,
Latin America, Africa, the Middle East, and Asia?
Paper Deadlines:
To be considered for the session, paper titles and outlines must be
received by the organizers no later than February 1, 2009. Proposals may
be sent either to Federico, Ocampo or Williamson at the email addresses
below.
Organizers:
Luis Bértola (Universidad de la República: Uruguay)
lbertola@fcs.edu.uy
Giovanni Federico (European University Institute: Italy)
Giovanni.Federico@IUE.it
José Antonio Ocampo (Columbia University: Colombia)
ocampo.joseantonio@yahoo.com
Jeffrey G. Williamson (Harvard University and University of Wisconsin: USA)
jwilliam@fas.harvard.edu
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