Protectionism, agricultural prices and relative factor incomes: Sweden’s wage-rental ratio, 1877-1926

Jan Bohlin () and Svante Larsson ()
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Jan Bohlin: Department of Economic History, School of Business, Economics and Law, Göteborg University, Postal: Box 720, SE 40530 Göteborg, Sweden
Svante Larsson: Department of Economic History, School of Business, Economics and Law, Göteborg University, Postal: Box 720, SE 40530 Göteborg, Sweden

No 7, Göteborg Papers in Economic History from University of Gothenburg, Unit for Economic History

Abstract: Trends in wage-rental ratios have figured prominently in the recent literature on factor price convergence and globalisation in the late nineteenth century. In that literature Sweden has been described as a free trade country whose wage-rental ratio exhibited a distinguished upward trend before World War I. This article presents a new series of land prices which indicates an increase in land rentals and an evolution of the wage-rental ratio more in line with other European protectionist countries. We explore the determinants of the Swedish wage-rental ratio and assess the relative importance of protectionism and the change in the product mix from arable to animal products in Swedish agriculture.

Keywords: Economic History; Land prices; wages; wage-rental ratio; protectionism; Sweden (search for similar items in EconPapers)
JEL-codes: F20 N13 N53 O47 (search for similar items in EconPapers)
Pages: 36 pages
Date: 2006-12-01
New Economics Papers: this item is included in nep-agr, nep-his and nep-int
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Persistent link: https://EconPapers.repec.org/RePEc:hhs:gunhis:0007

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