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The Economic History of the Caribbean since the Napoleonic Wars

Details

  • 117 colour illus.
  • Page extent: 730 pages
  • Size: 228 x 152 mm
  • Weight: 1.11 kg

Library of Congress

  • Dewey number: 330.9729
  • Dewey version: 23
  • LC Classification: HF3312 .B85 2012
  • LC Subject headings:
    • Caribbean Area--Commerce--History
    • Caribbean Area--Economic conditions
    • BUSINESS & ECONOMICS / Economic History.--bisacsh

Library of Congress Record

Hardback

 (ISBN-13: 9780521198899)

The Economic History of the Caribbean since the Napoleonic Wars
Cambridge University Press
9780521198899 - The Economic History of the Caribbean since the Napoleonic Wars - By Victor Bulmer-Thomas
Frontmatter/Prelims

The Economic History of the Caribbean since the Napoleonic Wars

This book examines the economic history of the Caribbean in the 200 years since the Napoleonic Wars and is the first such analysis to span the whole region. It is divided into three parts, each centered around a particular case study: the first focuses on the nineteenth century (‘The Age of Free Trade’); the second considers the period up to 1960 (‘The Age of Preferences’); and the final section concerns the half century from the Cuban Revolution to the present (‘The Age of Globalisation’). The study makes use of a specially constructed database to observe trends across the whole region and chart the progress of nearly thirty individual countries. Its findings challenge many long-standing assumptions about the region, and its in-depth case studies shed new light on the history of three countries in particular, namely, Belize, Cuba and Haiti.

Victor Bulmer-Thomas is Emeritus Professor of Economics at the University of London and Honorary Research Fellow with the University's Institute for the Study of the Americas. He is also a Senior Distinguished Fellow of the School of Advanced Study at London University and an Associate Fellow in the Americas Programme at Chatham House, where he was Director from 2001 to 2006; he was Director of the Institute of Latin American Studies, London University, from 1992 to 1998. His publications include The Economic History of Latin America since Independence (2nd ed., 2003), The Political Economy of Central America since 1920 (1987) and Input-Output Analysis for Developing Countries (1982). He is also coeditor of The Cambridge Economic History of Latin America (2006).


The Economic History of the Caribbean since the Napoleonic Wars

Victor Bulmer-Thomas

University of London


Cambridge University Press
Cambridge, New York, Melbourne, Madrid, Cape Town, Singapore, São Paulo, Delhi, Mexico City

Cambridge University Press
32 Avenue of the Americas, New York, NY 10013-2473, USA

www.cambridge.org
Information on this title: www.cambridge.org/9780521145602

© Victor Bulmer-Thomas 2012

This publication is in copyright. Subject to statutory exception and to the provisions of relevant collective licensing agreements, no reproduction of any part may take place without the written permission of Cambridge University Press.

First published 2012

Printed in the United States of America

A catalog record for this publication is available from the British Library.

Library of Congress Cataloging in Publication data

Bulmer-Thomas, V.
The economic history of the Caribbean since the Napoleonic wars / Victor Bulmer-Thomas.
p.cm.
Includes bibliographical references and index.
ISBN 978-0-521-19889-9 – ISBN 978-0-521-14560-2 (pbk.)
1. Caribbean Area – Commerce – History. 2. Caribbean Area – Economic conditions. I. Title.
HF3312.B852012
330.9729–dc232011023537

ISBN 978-0-521-19889-9 Hardback
ISBN 978-0-521-14560-2 Paperback

Additional resources for this publication at http://www.cambridge.org/9780521145602Cambridge University Press has no responsibility for the persistence or accuracy of URLs for external or third-party Internet Web sites referred to in this publication and does not guarantee that any content on such Web sites is, or will remain, accurate or appropriate.


For Barbara


Contents

List of Figures
x
List of Tables
xv
Preface
xvii
List of Abbreviations
xix
1             Introduction
1
Part I.       The Caribbean in the age of free trade: from the napoleonic wars to 1900
2             The Core and the Caribbean
21
2.1.          Geopolitics in the Core
23
2.2.          Growth and Development in the Core
29
2.3.          Trade and Tariff Policy in the Core
36
2.4.          The Abolition of the Slave Trade and Slave Emancipation
41
3             From Scarce to Surplus Labour in the Caribbean
46
3.1.          Population Change
47
3.2.          Slavery and the Illegal Traffic in Slaves
50
3.3.          Coercion without Slavery
57
3.4.          Inward Migration
62
3.5.          Surplus Labour, Free Labour and Wage Rates
69
4             Global Commodity Trade and Its Implications for the Caribbean
77
4.1.          Caribbean Exports in 1820
78
4.2.          Demand for and Supply of Leading Commodities
83
4.3.          Market Access in the Core
90
4.4.          Commodity Prices and Technological Change
96
5             Caribbean Foreign Trade
104
5.1.          Trade Structure
105
5.2.          Trade Patterns
113
5.3.          The Terms of Trade
119
5.4.          Domestic Exports per Head
125
6             The Domestic Economy in the Caribbean
133
6.1.          Goods and Services for the Home Market
134
6.2.          Infrastructure
141
6.3.          Public Finance
146
6.4.          Macroeconomic Performance
153
7             Haiti: From Independence to US Occupation
160
7.1.          Haiti and the Core
163
7.2.          The Export Sector
169
7.3.          Public Finance
178
7.4.          When and Why Did Haiti Fall Behind?
186
Part II.      The caribbean in the age of preferences: from 1900 to 1960
8             The Core and the Caribbean
197
8.1.          The World Economy
198
8.2.          The United States and the Caribbean
205
8.3.          The UK and the Caribbean
214
8.4.          The Rest of the Core and the Caribbean
221
9             Caribbean Foreign Trade
228
9.1.          The Commodity Structure of Exports
229
9.2.          Country Shares in Domestic Exports
236
9.3.          The Terms of Trade
242
9.4.          Exports and Imports per Head
249
Appendix to Chapter 9. A Selection of Natural Disasters, 1900–1960
255
10            The Caribbean Domestic Economy
257
10.1.         National Income
258
10.2.         The Structure of Output and Employment
265
10.3.         Public Finance
272
10.4.         Migration
279
11            The Rise, Decline and Fall of the Belizean Economy before Independence
285
11.1.         Prosperity without Sustainability: From Settlement to Colony
287
11.2.         Colonialism and Economic Decline
295
11.3.         The Fall of the Belize Economy: 1900–1950
302
11.4.         Devaluation, Diversification and Development
310
Appendix to Chapter 11. Belize's Nineteenth-Century Exports
315
Part III.     The caribbean in the age of globalisation: from 1960 to the present
12            The Core and the Caribbean
321
12.1.         The World Economy
322
12.2.         The United States and the Caribbean
328
12.3.         Europe and the Caribbean
337
12.4.         The Rest of the Core and the Caribbean
342
Appendix to Chapter 12. Caribbean Merchandise Trade with the United States, the European Union, Canada and China
348
13            Structural Change in the Caribbean
353
13.1.         Merchandise Exports
354
13.2.         Service Exports
360
13.3.         The Public Sector
368
13.4.         Urbanisation
375
14            Import Substitution, Manufacturing Export Promotion and Regional Integration in the Caribbean
378
14.1.         Import Substitution
379
14.2.         Manufacturing Export Promotion
387
14.3.         Regional Integration
395
15            Caribbean Economic Performance
402
15.1.         Production
403
15.2.         Distribution between and within Countries
411
15.3.         The Labour Market, Migration and Remittances
418
15.4.         The Environment and Sustainable Development
424
16            The Cuban Economy since the Revolution
430
16.1.         From Capitalism to Socialism: 1959–1963
431
16.2.         Growth with Equity: 1964–1989
438
16.3.         The Special Period and Its Aftermath
445
16.4.         The Cuban Economy since the Napoleonic Wars
452
Statistical Appendix
463
Notes on A Tables
467
Notes on B Tables
537
Notes on C Tables
556
Notes on D Tables
602
Bibliography
649
Index
683

List of Figures

1.1         Production per Head (1900=100), semi-log scale, 1820–2008
10
1.2         Net Barter Terms of Trade (1900=100), 1820–2008
11
1.3         Sugar Share of Merchandise Exports (%), 1820–2008
13
1.4         Net Outward Migration as Percentage of Population, 1901–2008
14
2.1         Core GDP ($bn at 1990 prices), 1820–1900
32
3.1         Caribbean Population (millions), 1810–1900
48
3.2         School Enrolment as Percentage of Population, c.1900
49
3.3         Slaves as Percentage of Population, 1810–1880
55
3.4         Net Inward Migration as Percentage of Population, 1850–1900
69
3.5         Predial Wage Rates (1870=100) in Selected British Colonies, 1838–1900
74
4.1         Exports per Head ($), 1820
79
4.2         Top Ten Commodity Exports (%), 1820
80
4.3         World Commodity Demand (% change per year), 1820–1900
85
4.4         Caribbean World Market Shares (%), 1820–1900
90
4.5         Coefficients of Variation for Commodity Prices, 1820–1900
98
4.6         Sugar Price, 1821–1902
102
5.1         Caribbean and Cuban Domestic Exports ($mn), 1820–1900
106
5.2         Sugar Share of Domestic Exports (%), 1820–1900
107
5.3         Nonsugar Commodity Exports (1860 prices), 1820–1900
108
5.4         Domestic Exports by Destination (%), 1820–1900
114
5.5         Imports by Source (%), 1820–1900
118
5.6         Caribbean Terms of Trade and Retained Imports (1860=100), 1820–1900
123
5.7         Domestic Exports per Head, 1820–1900
125
5.8         Domestic Exports per Head in 1900 (1860 prices)
128
6.1         Depositors in British Colonies as Percentage of Population, 1900
141
6.2         Caribbean Railways (km), 1840–1900
142
6.3         Change in Final Expenditure per Head (% per year), 1820–1900
154
7.1         Ratio of Haitian to Caribbean Merchandise Exports per Head (%), 1821–2007
162
7.2         Volume of Haitian Coffee Exports (mn lbs), 1817–1915
175
7.3         Volume of Haitian Logwood Exports (mn lbs) (3-year average), 1818–1914
176
7.4         Volume per Head (lbs) of Haitian Coffee and Logwood Exports (3-year average), 1818–1914
177
7.5         Public Revenue per Head (3-year average), 1820–1914
181
7.6         Haitian Public Expenditure by Type as Percentage of Public Revenue, 1840–1914
185
7.7         Haitian Exports per Head at Current and Constant Prices (1860=100) (3-year average), 1818–1914
189
7.8         Haitian Terms of Trade (1860=100) (3-year average), 1822–1915
190
8.1         World Exports at 1930 Prices ($bn)
199
8.2         Trade of the Caribbean with the United States as Percentage of Total, 1900–1960
211
8.3         Trade of the British Dependencies with the UK as Percentage of Total, 1900–1960
217
8.4         Trade of French Dependencies with France as Percentage of Total, 1900–1960
222
8.5         Trade of Dutch Dependencies with Holland as Percentage of Total, 1900–1960
224
9.1         Sugar Share in Domestic Exports (%), 1900–1960
230
9.2         Commodity Shares in Domestic Exports at 1930 Prices (%), 1900–1960
234
9.3         Country Shares in Domestic Exports at Current Prices (%), 1900–1960
239
9.4         Caribbean Export Unit Value (1930=100), 1900–1960
243
9.5         Caribbean Sugar Price Premium as Percentage of ‘Free Market’ Price, 1900–1960
245
9.6         Cuban Import Structure (%), 1900–1957
246
9.7         Caribbean Net Barter and Income Terms of Trade (1930=100), 1900–1960
247
9.8         Annual Population Growth (%), 1900–1960
250
9.9         Caribbean Domestic Exports and Retained Imports per Head (1930 prices), 1900–1960
251
9.10        Merchandise Exports per Head ($), 1960
254
10.1        Cuban Income and Exports per Head ($), 1903–1958
259
10.2        Share of Agriculture in GDP and PEA (%), c.1950
266
10.3        Share of Manufacturing in GDP and PEA (%), c.1950
269
10.4        Import Duties (%), c.1938
273
10.5        Caribbean Domestic Exports and Public Expenditure per Head (1930 prices), 1900–1960
276
10.6        Caribbean Crude Birth and Death Rates, 1900–1960
280
11.1        Belize: Volume of Logwood and Mahogany Exports, 1820–1850 (3-year average)
289
11.2        Belize: Merchandise Exports per Head ($), 1824–1860
290
11.3        Belize: Public Revenue per Head, 1808–1860 (3-year average)
293
11.4        Belize: Volume of Logwood and Mahogany Exports, 1856–1900
297
11.5        Belize: Nontraditional Exports, 1871–1900
300
11.6        Belize: Volume of Logwood and Mahogany Exports, 1900–1950
305
11.7        Belize: Exports per Head, 1850–1950
307
11.8        Belize: Share of Forest and Nonforest Products in Domestic Exports (%), 1950–1980
311
11.9        Belize: Net Outward Migration as Percentage of Population, 1950–1980
312
11.10       Ratio of Belizean to Caribbean Exports per Head, 1951–1980
314
12.1        World Imports of Services ($bn), 1980–2008
326
12.2        Caribbean Share of US Sugar Imports (%), 1967–2009
330
12.3        Caribbean Merchandise Exports to United States as Percentage of Total, 1960–2008
334
12.4        Merchandise Imports from the United States as Percentage of Total, 1980–2008
337
12.5        Merchandise Trade of Caribbean (excluding US territories) with the European Union as Percentage of Total, 1980–2008
341
12.6        Caribbean Merchandise Exports to Canada as Percentage of Total, 1980–2008
343
12.7        Caribbean Merchandise Imports from China as Percentage of Total, 1980–2008
345
13.1        Merchandise Exports by Subregions as Share of Total (%), 1960–2008
355
13.2        Country Shares of Merchandise Exports (%), 1960–2008
356
13.3        Commodity Shares of Merchandise Exports (%), 1960–2008
357
13.4        Volume of Sugar Exports (000 MT), 1960–2008
359
13.5        Service Exports as Percentage of Total Exports, 1960–2008
361
13.6        Tourist (Stop-Over) Arrivals and Cruise Passenger Visits in 2008 (% of total)
364
13.7        Total Exports as Percentage of GDP, 1960–2008
367
13.8        Public Spending as Share of GDP (%), 1960 and c.2000
369
13.9        Public Debt/GDP (%), c.2000
373
13.10       Share of Agriculture in Total Employment (%), c.2005
376
14.1        Total Imports per Head (2000 prices), 1960–2008
381
14.2        Total Imports per Head in the Caribbean and Other Regions ($), 2000
382
14.3        Share of Imports in Total Food Supply in the Caribbean (%), 2007
386
14.4        Nontraditional Exports as Share of Merchandise Exports (%), 1990–2008
392
14.5        Sample of Manufactured Exports from Trinidad & Tobago ($mn), 1980–2008
394
14.6        Cuban Biotechnology Exports ($mn), 1999–2007
395
14.7        CARICOM Intraregional Exports as Percentage of Merchandise Exports, 1960–2008
397
14.8        CARICOM Intraregional Exports by Country (%), 2005–2008
398
14.9        Shares of CARICOM Intraregional Imports (%), 2005–2008
399
14.10       Intraregional Exports as Percentage of Merchandise Exports, 2005–2008
400
15.1        GDP at Constant (2000) Prices, 1960–2008
404
15.2        GDP per Head (2000 prices), 1960–2008 (% per year)
406
15.3        Caribbean Terms of Trade (2000=100), 1960–2008
409
15.4        Regional Comparisons of GDP per Head (2000 prices), 2008 ($)
410
15.5        GDP per Head ($) at Official and PPP Exchange Rates, 2000
412
15.6        Ratio of GNI to GDP, 1970–2008
414
15.7        Unemployment Rate (%), c.2008
420
15.8        Remittances as Percentage of GDP, c.2008
424
15.9        Biodiversity Potential Index, 2005 and 2008
426
15.10       Proportion of Land Area Covered by Forest (%), 2005
427
15.11       Fertilizer Consumption, 1961–2006
428
15.12       Caribbean CO2 Emissions Intensity, 1990–2006
429
16.1        Cuban Merchandise Trade to GDP Ratio (%), 1950–1963
435
16.2        Cuban GDP per Head (2000 prices), 1950–1963
437
16.3        Cuban GDP per Head (2000 prices), 1964–1989
439
16.4        Cuban Ratio to GDP (%) of Total Exports, Total Imports and Investment, 1963–1989
443
16.5        Cuban GDP and GDP per Head (2000 prices), 1989–2008
445
16.6        Cuban Composition of Total Exports, 1989–2008
449
16.7        Cuban Share of Caribbean Merchandise Exports (%), 1820–2008
453
16.8        Cuban Migration Rate (%), 1850–2008
454
16.9        Ratio of Cuban to Rest of Caribbean Merchandise Exports per Head and Share of Cuban Sugar in Caribbean Sugar Exports (%), 1820–2008
455
16.10       Cuban Exports per Head at Constant Prices (1900=100), 1810–1960
457
16.11       Cuban Net Barter Terms of Trade (1900=100), 1826–2008
459
16.12       Ratio of Cuban to Rest of Caribbean GDP and Merchandise Exports per Head (%), 1960–2008
460



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