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Extra resources for Annual World Bank Conference on Development Economics 2001/2002
Commodity market integration in the late 19th century was both impressive in scale and global in scope. Indeed, developing economies were becoming more rapidly integrated with the rest of the world than were their Atlantic economy counterparts during this period (Williamson 2000). Transport costs continued to fall during the 20th century, but at a slower rate. Isserlis (1938) provides an index of British tramp freight rates from 1869 to 1936. Between 1869 and 1914 real trend freight rates fell by 34 percent.
2000. Voices of the Poor: Can Anyone Hear Us? New York: Oxford University Press. Schumpeter, J. A.  1934. The Theory of Economic Development: An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle. : Harvard University Press. ) Sen, Amartya. 1999. Development as Freedom. Oxford: Oxford University Press. World Bank. 1997. World Development Report 1997: The State in a Changing World. New York: Oxford University Press. ———. 2000a. Anticorruption in Transition: A Contribution to the Policy Debate.
Transport costs continued to fall during the 20th century, but at a slower rate. Isserlis (1938) provides an index of British tramp freight rates from 1869 to 1936. Between 1869 and 1914 real trend freight rates fell by 34 percent. They increased sharply during the war, remaining abnormally high until 1920. While they fell up to 1925, they never attained their prewar levels, and they rose thereafter, with the trend between 1921 and 1936 being broadly flat (at a level roughly equal to the 1869 level; Findlay and O’Rourke 2001).