Göteborg Papers in Economic History
Protectionism, agricultural prices and relative factor incomes: Sweden’s wage-rental ratio, 1877-1926
() and Svante Larsson
Abstract: Trends in wage-rental ratios have figured prominently in
the recent literature on factor price convergence and globalisation in the
late nineteenth century. In that literature Sweden has been described as a
free trade country whose wage-rental ratio exhibited a distinguished upward
trend before World War I. This article presents a new series of land prices
which indicates an increase in land rentals and an evolution of the
wage-rental ratio more in line with other European protectionist countries.
We explore the determinants of the Swedish wage-rental ratio and assess the
relative importance of protectionism and the change in the product mix from
arable to animal products in Swedish agriculture.
Keywords: Economic History; Land prices; wages; wage-rental ratio; protectionism; Sweden; (follow links to similar papers)
JEL-Codes: F20; N13; N53; O47; (follow links to similar papers)
36 pages, December 1, 2006
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