Uruguay and the First Globalization. On the accuracy of export performance, 1870-1913

Nicolás Bonino Gayoso and Henry Willebald
Authors registered in the RePEc Author Service: Antonio Tena Junguito and Nicolás Bonino-Gayoso

IFCS - Working Papers in Economic History.WH from Universidad Carlos III de Madrid. Instituto Figuerola

Abstract: In order to understand Uruguayan long-run economic evolution it becomes crucial to interpret its export performance during the First Globalization. The lack of accuracy of official figures, especially official prices used, calls for an adjustment of Uruguayan exports series. We have used empirical evidence to test the accuracy of quantities and values of exports' records, first, according to import partners' records and, second, according to international market prices. Results show a general undervaluation of official export values during the period along with severe distortions in the registers caused by transit trade. We reconstructed new Uruguayan export f.o.b values and export price index, which present an export evolution more unstable and less dynamic than the one showed by its neighbor Argentina.

Keywords: Bilateral; trade; Accuracy; indices; Exports; Uruguay; First; Globalization (search for similar items in EconPapers)
JEL-codes: F14 N76 (search for similar items in EconPapers)
Date: 2015-01-01
New Economics Papers: this item is included in nep-his
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Citations: View citations in EconPapers (5)

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Journal Article: URUGUAY AND THE FIRST GLOBALIZATION: ON THE ACCURACY OF EXPORT PERFORMANCE, 1870-1913* (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:cte:whrepe:wp15-01

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