Curs 2010-2011
Llicenciatura en Economia
International Economic History
Lecture Schedule and Readings
You are urged to do the readings on schedule, as the lectures will presume familiarity with the material. All readings on the syllabus marked with (m) are mandatory. The other readings are highly recommended.
I. PRE-MODERN INTERNATIONAL ECONOMIC HISTORY (1000-1750)
This part of the course covers topics in International Economic History from the Middle Ages to the eighteenth century. It does not give a detailed economic history of particular national economies. Nevertheless, you will be required to be familiar with the following historical background readings:
* CAMERON, R. and NEAL, L. (2003), A Concise History of the World: From Paleolithic Times to the Present. Oxford: Oxford University Press (4th ed). Chapters 3-6, pp. 44-159.
* CIPOLLA, C. M. (1980). Before the Industrial Revolution: European Society and Economy, 1000-1700. New York: WW Norton & Company. Chapters 9-10, pp. 209-275.
Tema 1. Neoclassical Predictions and Economic History
1.1. General Introduction to Course.
1.2. The Heckscher-Ohlin Model.
1.3. New Institutional Economics.
(m) 1.3. COASE, R. H. (1937), "The Nature of the Firm". Economica, 4(16): 386-405.
(m) 1.3. NORTH, Douglass C. (1991). Institutions.
(m) 1.2. O'ROURKE, Kevin and Jeffrey WILLIAMSON. (2002). "The Heckscher-Ohlin model between 1400 and 2000: when it explained factor price convergence, when it did not, and why," in FINDLAY, R.; JONUNG, L. and LUNDAHL, M. (eds.), Bertil Ohlin: A Centennial Celebration 1899-1999 (MIT Press, 2002), 431-461. (Accessible online through UPF library)
Tema 2. Barriers to Globalization
2.1. Transportation Costs.
2.2. Institutions and Property Rights.
2.3. Agency and Enforcement.
2.2. ACEMOGLU, D.; JOHNSON, S. and ROBINSON, J. (2005). "The Rise of Europe: Atlantic Trade, Institutional Change, and Economic Growth." American Economic Review 95(3): 546-579.
(m) 2.3. GREIF, A. (1992), "Institutions and International Trade: Lessons from the Commercial Revolution." American Economic Review, 82 (2), pp.
*2.1. MASSCHAELE, J. (1993). "Transport Costs in Medieval England", The Economic History Review, New Series, 46(2): 266-279.
2.2. NORTH, D. C., (1989), "Institutions and Economic Growth: An Historical Introduction," World Development, 17 (9):1319-1332.
(m) 2.2. NORTH, D. C., and WEINGAST, B. R. (1989). "Constitutions and Commitment: The Evolution of Institutions Governing Public Choice in Seventeenth-Century England". The Journal of Economic History, Vol. 49(4), pp. 803-832.
Tema 3. Commodity Markets
3.1. English Overseas Trade and Trade Policy.
3.2. Political Barriers to Growth and Trade.
3.3. Commodity Market Integration.
(m)*3.1. ATACK, J. and PASSELL, P. (1994), A New Economic View of American History: from Colonial Times to 1940, New York: W. W. Norton & Company (2nd ed.). pp. 54-65.
*3.1. CAMERON, R. and NEAL, L. (2003), A Concise History of the World: From Paleolithic Times to the Present. Oxford: Oxford University Press (4th ed). Ch. 4, pp. 154-159. ("Parliamentary Colbertism" in Britain).
(m) 3.2. DE LONG, B., and, SHLEIFER, A. (1993). "Princes and Merchants: European City Growth before the Industrial Revolution". Journal of Law and Economics 36:671-702.
3.2. EPSTEIN, L. (2000). Freedom and growth: The rise of states and markets in Europe, 1300-1750, London: Routledge. (pages TBA)
(m) 3.3. O'ROURKE, K. and WILLIAMSON, J. (2002). "After Columbus: explaining the global trade boom 1500-1800," Journal of Economic History 62(2): 417-456.
3.3. FINDLAY, R. and O'ROURKE, K. (2003), "Commodity market integration, 1500-2000," in M.D. Bordo, A.M. Taylor and J.G. Williamson (eds.), Globalization in Historical Perspective (University of Chicago Press/NBER 2003), 13-62.
*3.1. WALTON, G. M. (1971), "The New Economic History and the Burden of the Navigation Acts," Economic History Review, 24, 2nd series (4): 533-542.
Tema 4. Money and Capital Markets
4.1. Famous first bubbles: The South Sea Bubble.
4.2. Money and Banking.
4.3. Financial Markets.
*4.1. GARBER, P. M. (1990), "Famous first bubbles," Journal of Economic Perspectives, 4 (2):35-54.
(m) 4.3. HOFFMAN, P.; POSTEL-VINAY, G. and ROSENTHAL, Jean-Laurent (1992). "Private Credit Markets in Paris, 1690-1840," The Journal of Economic History 52(2):293-306.
*4.1. NEAL, L. D. (1990). "How the South Sea Bubble was blown up and burst: A new look at old data," in E.N. White (ed.) Crashes and Panics. Business One Irwin.
(m) 4.3. NEAL, L. D. (2000). "How it all began: the monetary and financial architecture of Europe during the first global capital markets, 1648-1815". Financial History Review, 7(2):117-140.
(m)* 4.1. TEMIN, P. and VOTH, Hans-Joachim (2004). "Riding the South Sea Bubble," The American Economic Review, 94(5): 1654-1668.
4.3. WOLF, N. and VOLCKART, O. (2006). "Estimating Financial Integration in the Middle Ages: What can we learn from a TAR-model?" Journal of Economic History, 66(1):122-139.
II. MODERN INTERNATIONAL ECONOMIC HISTORY
This second part of the course covers the economic history of the globalization process during 19th and 20th centuries. The manual (m=mandatory reading) for this part II of the course is:
(m) BORDO, M.; TAYLOR, A.; WILLIAMSON J. G. (eds.) (2003): Globalization in Historical Perspective, University of Chicago Press/NBER. pp. 1-416.
Pages/chapters of books from the readings recommended for the students' presentations (*) shall be agreeded in the Ofice Hours.
Tema 5. Globalization and the Industrial Revolution
5.1. From mercantilism to the first global era.
5.2. Industrialization in the Core: Trade Policies.
5.3. Africa, Slavery and the 18th Century Atlantic System.
*(m)O'ROURKE, K.; WILLIAMSON, J. G. (2000): "The Politics of Free Trade: Repeal of the Corn Laws", in O'Rourke, Williamson, Globalization and History, pp.77-92.
*(m) FLANDREAU, M. (2006): "Does bilateralism promote trade? Nineteenth century liberalization revisited" in http://www.econ.upf.edu/docs/seminars/flandreau.pdf
*PERSSON (1999): Grain Markets in Europe, 1500-1900: integration and deregulation, Cambriddge, CUP.
(m) FOGEL, R.; ENGERMAN, S. (1974): Time on the Cross: The Economics of American Negro Slavery. Boston: Little Brown.pp.
MORGAN, K. (2000): Slavery, Atlantic Trade and the British Economy, 1600-1800. Cambridge, CUP.
SOLOW, B. (ed.) (1991): Slavery and the Rise of the Atlantic System, Cambridge, CUP.
Tema 6. Globalization in the Periphery: De-Industrialization and Protection
6.1. The De-industrialization of India.
6.2. Tariff Barriers in Latin America.
6.3. The role of the comodity lottery and implications for development and inequality.
(m)*CLINGINGSMITH, D.; WILLIAMSON, J. G. (2005): Mugal Decline, Climate Change, and Britain's Industrial Ascent. An Integrated Perspective on India's 18th and 19th Century Deindustrialization. Mimeo. http://www.economics.harvard.edu/faculty/jwilliam/papers/w11730.pdf
*WILLIAMSON, J. G. (2004): De-Industrialization and Underdevelopment: A comparative Assesment Around the Periphery 1750-1939. Mimeo. http://www.economics.harvard.edu/faculty/jwilliam/papers/DeIndEHW1204.pdf
(m) ACEMOGLU, D. et. Alt. (2002): "Reversal of Fortune. Geography and Development in the Making of the Modern World Income Distribution" Quaterly Journal of Economics (4: 2002), 1231-94.
(m) BLATTMAN, C.; CLEMENS, M. A., WILLIAMSON (2005): Who Protected and Why? Tariffs the World Around, 1870-1938, Mimeo. http://www.economics.harvard.edu/faculty/jwilliam/papers/Tariffs_Dublin.pdf
Tema 7. Emergence of Global Factor Markets: Labor and Capital
7.1. The age of mass migration.
7.2. Convergence and prices.
7.3. Money and capital markets.
*HATTON, T.; WILLIAMSON, J. G. (1998): The Age of Mass Migration: Causes and Economic Impact, Oxford University Press.
(m) O'ROURKE, K.; WILLIAMSON, J. G. (2002): "The Heckscher-Ohlin model between 1400 and 2000: when it expanded factor price convergence, when it did not, anhd why", in Findlay, R., Jonung, L.; Lundahl, M. (ed.): Bertil Ohlin: A Centennial Celebration 1899-1999. MIT Press. (library electronic ressource).
(m) OBSFELD, M.; TAYLOR, A. (2003): "Globalization and Capital Markets" in Bordo, M.D.; Taylor, A.M.; Williamson, J.G. (ed.) Globalization in Historical Perspective. University of Chicago Press/NBER. Pp. 121-190.
(m) O'ROURKE, WILLIAMSON (2000): "Globalization, Relative Factor Price Convergence and Inequality", in Globalization and History, MIT Press.
Tema 8. Globalization Backlash in the 20th Century
8.1. The Great Depression.
8.2. Regionalization and the postwar order.
8.3. De globalization from the periphery.
*(m) TEMIN, P. (1989): Lessons from the Great Depression, MIT Press.
MARGLIN, S.; SCHOR, J. (1991): The Golden Age of Capitalism, Oxford Clarendon.
*(m) FRIEDMAN, M.; SCHWARTZ, A. (1971): A Monetary History of the United States: 1867-1960, Princeton, Princeton University Press.
*(m) KINDLEBERGER, C. P. (1957): The world in depression, 1929-1939, Berkeley, Univerity of California Press.
*(m) KEYNES, J. M.; (Activities 1929-1931): Rethinking employment and unemployment policies, Macmillan, Cambridge, University Press of the Royal Economic Society (selected pages).
*(m) KEYNES, J. M., (Activities 1931-1939): World Crisis and Policies in Britain and America, Macmillan, Cambridge, Univeristy press of the Royal Economic Society (selected pages).
Tema 9. The Second Global Era
9.1. The emergence of China and India.
9.2. The new impact of migration movements.
9.3. Globalization and inequality as if all citizens mattered: the gender approach.
*DEVLIN, R.; ESTEVADEORDAL, A.; RODRÍGUEZ-CLARE, A. (2006): The Emergence of China. Opportunities and Challenges for Latin America and the Caribbean, DRCLAS, Harvard University. Pp. 3-191.
(m) HATTON, T.; WILLIAMSON, J. G. (2005): Global Migration and the World Economy: Two Centuries of Policy and Pêrformance, MIT Press.
*(m) SALA-I-MARTIN, X. (2006): "The World Distribution of Income: Falling Poverty and... Convergence period", Quaterly Journal of Economics, 121:2, may. WP version at http://www.econ.upf.edu/docs/papers/downloads/616.pdf
(m) CAMPS, E.; CAMOU, M.; MAUBRIGADES, S.; MORA-SITJA, N. (2006): "Globalization and wage inequality in South and East Asia and Latin America: a gender approach", mimeo. http://www.econ.upf.edu/docs/papers/downloads/970.pdf
Tema 10. Globalization and Inequality in the Long Run
10.1. When and why do countires diverge?
10.2. When and why do countires converge?
10.3. Does globalization make the world more unequal?
10.4. Summary of the programme: Does Globalization cause depressions?
*ALLEN, R. (2001): "The Great Divergence in European Wages and Prices from Middle Ages to the First World War", Explorations of Economic History, october, pp. 411- 447.
(m) BOURGUIGNON, F.; MORRISON (2002) "Inequality among World Citizens, 1820-1992", American Economic Review, september, pp. 7272-7344.
POMERANZ, K. (2000): The Great Divergence: China, Europe and the making of the Modern World Economy, Princeton.
*(m) LINDERT, P. H.; WILLIAMSON, J. G. (2003): "Does Globalization Make the World More Unequal" in Bordo, M.; Taylor, A.M.; Williamson, J.G., Globalization in Historical Perspective, Cambridge Ma: NBER.pp.227-278.
*VAN ZANDEN, J. L. "Global Income Distribution and Convergence, 1800-2000" in http://www.iisg.nl/research/income-distribution.pdf
*(m) ALLEN, R.; BASSINO, J. P.; MA, D.; MOLL-MURATA, C.; VAN ZANDEN "Wages, Prices, and Living Standards in China, Japan and Europe, 1738-1925" in http://www.iisg.nl/research/jvz-wages_prices.pdf
*EASTERLY, W. (2007): "Was Development Assistance a mistake?" http://www.nyu.edu/fas/institute/dri/Easterly/File/Was_Development_Assistance_a_Mistake.pdf
*VILA-ARTADI, E.; SALA-I-MARTIN, X. "The Economic Tragedy of the XXth Century: Growth in Africa" http://www.econ.upf.edu/docs/papers/dowloads/684.pdf
Criteris d'avaluació
- Class participation (10%)
Class discussion is an essential component of this tutorial. Be prepared to discuss the assigned readings in class.
- Group assignment (20%)
You will be required to prepare a 1 hour presentation in groups of 3-4 students about one of the topics listed below. For further details and instructions see the following section.
- Final Exam (70%)