Revisiting the tariff‐growth correlation: The Australasian colonies, 1866–1900

Varian, Brian D.

doi:10.1111/aehr.12233

Cited by 2 publications

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References 22 publications

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“…8 However, to whatever extent such a sectoral adjustment may have occurred, it was unlikely to have been growth-enhancing for pre-Federation Australia, where agricultural labour productivity exceeded manufacturing labour productivity. 9 Analysing the crosscolonial and intertemporal variation in Australian tariffs for the period 1866-1900, Varian (2022) found no association between tariffs and growth in GDP per capita. 10 It is worth observing that, in 1900, GDP per capita was nearly identical in New South Wales and Victoria, despite their differing policies (Sinclair, 2009).…”

Section: Tariffs Before and After Federationmentioning

confidence: 99%

Economic Aspects of Australian Federation: Trade Restrictiveness and Welfare Effects in the Colonies and the Commonwealth, 1900–3*

Varian,

Grayson

2024

Economic Record

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Australian Federation in 1901 entailed the formation of a customs union among its formerly tariff‐autonomous colonies. Although the elimination of tariff barriers to intercolonial/interstate trade would have been welfare‐enhancing, Australia's common external tariff was set considerably higher than the tariffs on external goods imported by the pre‐Federation colonies, implying a welfare reduction. Using a dataset of 3,584 commodity‐ and colony‐disaggregated imports, this paper estimates trade restrictiveness indices and welfare losses for the Australian colonies and Commonwealth. Despite the high external tariff post Federation, the customs union produced a net static welfare gain conservatively estimated to have been 0.17 per cent of GDP.

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Section: Tariffs Before and After Federationmentioning

confidence: 99%

Economic Aspects of Australian Federation: Trade Restrictiveness and Welfare Effects in the Colonies and the Commonwealth, 1900–3*

Varian,

Grayson

2024

Economic Record

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“…More importantly, heterogeneity in the impact of the railway thus increased economic disparities within Württemberg and contributed to the state's relatively sluggish growth. Varian focuses on the linkage between trade and economic growth by revisiting the tariff‐growth linkage for seven tariff autonomous colonies of late‐nineteenth‐century Australasia. He argues that introducing tariffs to a convergence model yields no evidence between tariffs and growth among the Australasian colonies.…”

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confidence: 99%

Review of periodical literature for 2022: (v) 1850–1945

Husain

2024

The Economic History Review

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In 2022, the theme of income inequality was particularly well researched. The articles can generally be categorized under three broad themes: (1) exploring the contribution of systemic shocks on income inequality, (2) revising previous estimates on income inequality, and (3) investigating the drivers of income inequality. Galletta and Giommoni explore the impact of a systemic shock such as the 1918 influenza pandemic on income inequality in Italian municipalities. The authors derive measures of income inequality from newly digitized historical administrative records on taxpayer incomes. Results indicate that in the short and medium run, income inequality is higher in municipalities more afflicted by the pandemic. The authors argue that the effect is mostly explained by an increase in the share of income held by the rich to the detriment of the other strata of the population. While Galletta and Giommoni study the effect of systemic shocks on income inequality, Voutilainen examines whether economic inequality intensified the adverse effects of harvest, price, and income shocks during a famine. Using a unique parish-level longitudinal and multivariate spatial panel data from the Finnish famine of the 1860s, empirical investigations indicate that while increasing income inequality and decreasing average income exacerbated the adverse effects of food output fluctuations, the same conditions weakened the market-mediated shocks.Research on inequality also converged on creating new estimates to measure inequality. Roikonen contributes to discussions on long-run inequality and presents a new series of income inequality statistics from 1865 to 2019. The author finds that income inequality rose and peaked during the industrialization phase at the turn of the nineteenth and twentieth centuries. The paper gives credence to the fact that income inequality does not follow 'strict' patterns or deterministic rules over the long run, but instead does so by episodic shifts. Geloso et al. also focus on inequality estimates and offer revisions to the inequality series created by Piketty and Saez (2003). The authors argue that Piketty and Saez (2003) overstate inequality levels during this period, and offer a revised income inequality series by addressing discrepancies and correcting for accounting errors in the data construction. The authors quantify the effect of pronounced shocks on inequality levels to argue that the Great Depression, rather than World War II, played a more significant role. Their findings indicate a need to reevaluate commonly held assumptions about the evolution of inequality during the period of the 'great levelling'. Focusing on colonial Africa, de Haas presents five social tables and inequality estimates for Uganda between 1925 and 1965 and finds 364

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Revisiting the tariff‐growth correlation: The Australasian colonies, 1866–1900

Cited by 2 publications

References 22 publications

Economic Aspects of Australian Federation: Trade Restrictiveness and Welfare Effects in the Colonies and the Commonwealth, 1900–3*

Economic Aspects of Australian Federation: Trade Restrictiveness and Welfare Effects in the Colonies and the Commonwealth, 1900–3*

Review of periodical literature for 2022: (v) 1850–1945

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