lec_5_110B - Economics110B WorldEconomic HistoryII...

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    Economics 110B  World Economic  History II Spring 2009  University of California, Davis Lecture 5: Immigration in the First Great  Wave of Globalization
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    Today’s Program Review of globalization and trade in the First  Wave of Globalization  Immigration in the 19 th  century: micro motives for  moving The Data on migration in the nineteenth century Stay Tuned (in): Your first mid-term: What to  Expect
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    Readings Cameron and Neal Ch.12, pp, 301-302
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    How to measure trade “integration” Integration of international  commodity markets Decline in the international  dispersion of commodity  prices –aka commodity price  convergence- S D p,p* trade
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    Conclusions From 1 st  Wave of  Globalization--Trade Trade can improve the well being of consumers in  an economy, in theory. As trade rose in the nineteenth century, due to  decreases in trade costs, most countries . Growth was high, prices of consumer goods fell and  converged, wages rose where they were previously low.  However, some sectors lost in economic terms.  They attempted a come back by using tariff  protection. This reached its zenith in the 1930s.  By the 1950s global cooperation reigned again.
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    Globalization and Migration: Past vs.  Present World migration is constrained in the current period of  globalization due to policy. Prior to 1920s few barriers to movement World migrants represented 2.3% of world population in  1990. Probably much more prior to the 1920s Migrant stocks in the developed world  increased from 3.1 to 4.5 percent between 1965 and 1990.  In North America, western Europe and Australasia combined,  4.9 to 7.6 percent North America, Argentina, Brazil, Australia were main  recipients pre-1920.
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