000			02514cam a22003017 4500
001			w5259
003			NBER
005			20211020114228.0
006			m o d
007			cr cnu||||||||
008			210910s1995 mau fo 000 0 eng d
100	1		_aWilliamson, Jeffrey G.
245	1	0	_aGlobalization, Convergence and History / _cJeffrey G. Williamson.
260			_aCambridge, Mass. _bNational Bureau of Economic Research _c1995.
300			_a1 online resource: _billustrations (black and white);
490	1		_aNBER working paper series _vno. w5259
500			_aSeptember 1995.
520	3		_aThere were three epochs of growth experience after the mid 19th century for what is now called the OECD 'club'; the late 19th century, the middle years between 1914 and 1950, and the late 20th century. The late 19th and the late 20th century epochs were ones of overall fast growth and convergence: poor countries tended to grow even faster than rich and the economic gap between rich and poor countries diminished. The middle years were ones of overall slow growth and divergence: poor countries tended to grow even slower than rich and the economic gap between rich and poor countries widened. Since the middle years were also ones of economic autarky and 'de-globalization', while the rest were ones of increasing globalization in world commodity and factor markets, history offers an unambiguous positive correlation between globalization and convergence. But is the correlation spurious? When the pre-World War I years are examined in detail, the correlation turns out to be causal: the globalization of commodity and factor markets served to play a critical, perhaps the critical, role in contributing to convergence. A century and a half of OECD club history also suggests that economists should pay more attention to who gains and who loses from convergence since the answers may help determine whether pro-globalization or anti- globalization policies will persist.
530			_aHardcopy version available to institutional subscribers
538			_aSystem requirements: Adobe [Acrobat] Reader required for PDF files.
538			_aMode of access: World Wide Web.
588	0		_aPrint version record
710	2		_aNational Bureau of Economic Research.
830		0	_aWorking Paper Series (National Bureau of Economic Research) _vno. w5259.
856	4	0	_uhttps://www.nber.org/papers/w5259
856			_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w5259
942			_2ddc _cW-PAPER
999			_c343093 _d301655