The Terms of Trade Between Spain and Britain and the Industrial Revolution

Leandro Prados de la Escosura ()

Chapter Chapter 7 in A Millennial View of Spain’s Development, 2024, pp 277-321 from Springer

Abstract: Abstract In this chapter, the Prebisch thesis of a long-run deterioration of primary producers’ terms of trade vis-a-vis industrial nations and its consequences on the former’s welfare is tested for Spain and Britain in the age of the Industrial Revolution. At odds with the Prebisch doctrine, the evolution of the terms of trade between Spain and Britain had a positive effect on Spain’s welfare, as productive factors embodied in exportables improved in absolute and relative terms, supporting the view that Spain’s relative decline in the nineteenth century cannot be blamed on specialization along lines of comparative advantage.

Date: 2024
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:frochp:978-3-031-60792-9_7

Ordering information: This item can be ordered from
http://www.springer.com/9783031607929

DOI: 10.1007/978-3-031-60792-9_7

Access Statistics for this chapter

More chapters in Frontiers in Economic History from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().