The Economic History of the Caribbean Since the Napoleonic Wars

Description

This book examines the economic history of the Caribbean in the two hundred years since the Napoleonic Wars and is the first 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 Globalization"). 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. Cover The Economic History of the Caribbean since the Napoleonic Wars Title Copyright Dedication Contents List of Figures List of Tables Preface List of Abbreviations 1 Introduction PART I: THE CARIBBEAN IN THE AGE OF FREE TRADE: From the Napoleonic Wars to 1900 2 The Core and the Caribbean 2.1. GEOPOLITICS IN THE CORE 2.2. GROWTH AND DEVELOPMENT IN THE CORE 2.3. TRADE AND TARIFF POLICY IN THE CORE 2.4. THE ABOLITION OF THE SLAVE TRADE AND SLAVE EMANCIPATION 3 From Scarce to Surplus Labour in the Caribbean 3.1. POPULATION CHANGE 3.2. SLAVERY AND THE ILLEGAL TRAFFIC IN SLAVES 3.3. COERCION WITHOUT SLAVERY 3.4. INWARD MIGRATION 3.5. SURPLUS LABOUR, FREE LABOUR AND WAGE RATES 4 Global Commodity Trade and Its Implications for the Caribbean 4.1. CARIBBEAN EXPORTS IN 1820 4.2. DEMAND FOR AND SUPPLY OF LEADING COMMODITIES 4.3. MARKET ACCESS IN THE CORE 4.4. COMMODITY PRICES AND TECHNOLOGICAL CHANGE 5 Caribbean Foreign Trade 5.1. TRADE STRUCTURE 5.2. TRADE PATTERNS 5.3. THE TERMS OF TRADE 5.4. DOMESTIC EXPORTS PER HEAD 6 The Domestic Economy in the Caribbean 6.1. GOODS AND SERVICES FOR THE HOME MARKET 6.2. INFRASTRUCTURE 6.3. PUBLIC FINANCE 6.4. MACROECONOMIC PERFORMANCE 7 Haiti: From Independence to US Occupation 7.1. HAITI AND THE CORE 7.2. THE EXPORT SECTOR 7.3. PUBLIC FINANCE 7.4. WHEN AND WHY DID HAITI FALL BEHIND? PART II: THE CARIBBEAN IN THE AGE OF PREFERENCES: From 1900 to 1960 8 The Core and the Caribbean 8.1. THE WORLD ECONOMY 8.2. THE UNITED STATES AND THE CARIBBEAN 8.3. THE UK AND THE CARIBBEAN 8.4. THE REST OF THE CORE AND THE CARIBBEAN 9 Caribbean Foreign Trade 9.1. THE COMMODITY STRUCTURE OF EXPORTS 9.2. COUNTRY SHARES IN DOMESTIC EXPORTS 9.3. THE TERMS OF TRADE 9.4. EXPORTS AND IMPORTS PER HEAD APPENDIX TO CHAPTER 9. A SELECTION OF NATURAL DISASTERS, 1900-1960 10 The Caribbean Domestic Economy 10.1. NATIONAL INCOME 10.2. THE STRUCTURE OF OUTPUT AND EMPLOYMENT 10.3. PUBLIC FINANCE 10.4. MIGRATION 11 The Rise, Decline and Fall of the Belizean Economy before Independence 11.1. PROSPERITY WITHOUT SUSTAINABILITY: FROM SETTLEMENT TO COLONY 11.2. COLONIALISM AND ECONOMIC DECLINE 11.3. THE FALL OF THE BELIZE ECONOMY: 1900-1950 11.4. DEVALUATION, DIVERSIFICATION AND DEVELOPMENT APPENDIX TO CHAPTER 11. BELIZE'S NINETEENTH-CENTURY EXPORTS LOGWOOD AND MAHOGANY VOLUMES LOGWOOD AND MAHOGANY PRICES DOMESTIC EXPORTS, RE-EXPORTS AND MERCHANDISE EXPORTS THE CURRENCY QUESTION PART III: THE CARIBBEAN IN THE AGE OF GLOBALISATION: From 1960 to the Present 12 The Core and the Caribbean 12.1. THE WORLD ECONOMY 12.2. THE UNITED STATES AND THE CARIBBEAN 12.3. EUROPE AND THE CARIBBEAN 12.4. THE REST OF THE CORE AND THE CARIBBEAN APPENDIX TO CHAPTER 12. CARIBBEAN MERCHANDISE TRADE WITH THE UNITED STATES, THE EUROPEAN UNION, CANADA AND CHINA I. United States A. Caribbean Exports to the United States, 1960–1980 (%) B. Caribbean Exports to the United States, 1980–2008 (%) C. Caribbean Imports from the United States, 1980–2008 (%) II. European Union A. Caribbean Imports from the EU, 1980–2008 (%) B. Caribbean Exports to the EU, 1980–2008 (%) III. Canada A. Caribbean Exports to Canada, 1980–2008 (%) B. Caribbean Imports from Canada, 1980–2008 (%) IV. China A. Caribbean Imports from China, 1980–2008 (%) B. Caribbean Exports to China, 1980–2008 (%) 13 Structural Change in the Caribbean 13.1. MERCHANDISE EXPORTS 13.2. SERVICE EXPORTS 13.3. THE PUBLIC SECTOR 13.4. URBANISATION 14 Import Substitution, Manufacturing Export Promotion and Regional Integration in the Caribbean 14.1. IMPORT SUBSTITUTION 14.2. MANUFACTURING EXPORT PROMOTION 14.3. REGIONAL INTEGRATION 15 Caribbean Economic Performance 15.1. PRODUCTION 15.2. DISTRIBUTION BETWEEN AND WITHIN COUNTRIES 15.3. THE LABOUR MARKET, MIGRATION AND REMITTANCES 15.4. THE ENVIRONMENT AND SUSTAINABLE DEVELOPMENT 16 The Cuban Economy since the Revolution 16.1. FROM CAPITALISM TO SOCIALISM: 1959–1963 16.2. GROWTH WITH EQUITY: 1964–1989 16.3. THE SPECIAL PERIOD AND ITS AFTERMATH 16.4. THE CUBAN ECONOMY SINCE THE NAPOLEONIC WARS Statistical Appendix A. NINETEENTH CENTURY B. HAITI: C.1820–1915 C. 1900–1960 D. 1960–2008 Notes on A Tables TABLES A.1–A.9 SOURCES FOR TABLES A.1–A.9 TABLE A.I. POPULATION Hispaniola Haiti Dominican Republic Spanish Colonies Cuba Puerto Rico British Colonies French Colonies Dutch Colonies Dutch Antilles Suriname Scandinavian Colonies Danish Virgin Islands St Barthélemy TABLE A.2. SALVE POPULATION Hispaniola Spanish Colonies Cuba Puerto Rico British Colonies French Colonies Dutch Colonies Dutch Antilles Suriname Scandinavian Colonies TABLES A.3. AND A.4. CRUDE BIRTH RATES AND CRUDE DEATH RATES Hispaniola Haiti Dominican Republic Spanish Colonies Cuba Puerto Rico British Colonies Anguilla Antigua The Bahamas Barbados Belize British Virgin Islands Cayman Islands Dominica Grenada Guyana Jamaica Montserrat Nevis St Kitts St Lucia St Vincent Tobago Trinidad Turks & Caicos Islands French Colonies French Guiana Guadeloupe Martinique Dutch Colonies Dutch Antilles Suriname Scandinavian Colonies Danish Virgin Islands St Barthélemy TABLE A.5. SLAVE IMPORTS Spanish Colonies Puerto Rico British Colonies French Colonies Dutch Colonies Scandinavian Colonies TABLE A.6. NET INWARD MIGRATION (EXCLUDING SLAVE IMPORTS) AS PERCENTAGE OF POPULATION Hispaniola Haiti Dominican Republic Spanish Colonies Cuba Puerto Rico British Colonies French Colonies French Guiana Guadeloupe Martinique Dutch Colonies Dutch Antilles Suriname Scandinavian Colonies TABLE A.7. SCHOOL ENROLMENT TABLES A.8 AND A.9. PREDIAL AND SKILLED WAGE RATES (1870=100) TABLES A.10–A.22 DESCRIPTION OF TABLES TABLE A.10. EXPORT DATA BY COUNTRY TABLE A.11. DOMESTIC EXPORTS TABLE A.12. RE-EXPORTS TABLE A.13. MERCHANDISE EXPORTS TABLE A.14. DOMESTIC EXPORTS (1860 PRICES) TABLE A.15. UNIT VALUE OF EXPORTS (1860=100) TABLE A.16. EXPORT VOLUME INDEX (1860=100) TABLE A.17. VALUE OF COMMODITY EXPORTS (CURRENT AND 1860 PRICES) TABLE A.18. STRUCTURE OF EXPORTS (CURRENT AND 1860 PRICES) TABLE A.19. PRICES OF PRINCIPAL EXPORT PRODUCTS TABLE A.20. EXPORTS TO THE UNITED STATES (%) TABLE A.21. EXPORTS TO THE UK (%) TABLE A.22. EXPORTS TO THE ‘MOTHER’ COUNTRY (%) SOURCES FOR TABLES A.10–A.22 Hispaniola Haiti Dominican Republic Spanish Colonies Cuba Puerto Rico British Colonies French Colonies French Guiana Guadeloupe Martinique Dutch Colonies Dutch Antilles Suriname Scandinavian Colonies Danish Virgin Islands St Barthélemy TABLES A.23–A.32 SOURCES FOR TABLES A.23–A.32 Hispaniola Haiti Dominican Republic Spanish Colonies Cuba Puerto Rico British Colonies French Colonies French Guiana Guadeloupe Martinique Dutch Colonies Dutch Antilles Suriname Scandinavian Colonies Danish Virgin Islands St Barthélemy TABLES A.33–A.38 SOURCES FOR TABLES A.33–A.38 Hispaniola Haiti Dominican Republic Spanish Colonies Cuba Puerto Rico British Colonies French Colonies French Guiana Guadeloupe Martinique Dutch Colonies Dutch Antilles Suriname Scandinavian Colonies Danish Virgin Islands St Barthélemy Notes on B Tables TABLES B.1-B.10 SOURCES FOR TABLES B.1-B.10 TABLE B.1. POPULATION AND THE EXCHANGE RATE Population The Exchange Rate TABLE B.2. EXPORTS OF FOUR MAIN PRODUCTS BY VOLUME AND VALUE Coffee Exports Logwood Exports Cacao Exports Cotton Exports TABLES B.3-B.5 TABLES B.6-B.7 TABLE B.8. NET BARTER AND INCOME TERMS OF TRADE (1860100) TABLE B.9. PUBLIC REVENUE AND IMPORT DUTIES TABLE B.10. PUBLIC EXPENDITURE BY CATEGORY (%) External Debt Service Internal Debt Service External Claims Armed Forces Public Education Agriculture APPENDIX TO NOTES ON B TABLES Notes on C Tables TABLES C.1-C.3 SOURCES FOR TABLES C.1-C.3 TABLES C.1 AND C.1A. POPULATION Hispaniola Haiti Dominican Republic Cuba British Dependencies French Dependencies French Guiana Guadeloupe Martinique Dutch Dependencies Dutch Antilles Suriname US Dependencies Puerto Rico US Virgin Islands TABLES C.2 AND C.3 Hispaniola Haiti Dominican Republic Cuba British Dependencies French Dependencies French Guiana Guadeloupe and Martinique Dutch Dependencies Dutch Antilles Suriname US Dependencies Puerto Rico US Virgin Islands TABLES C.4-C.32 TABLE C.4. EXCHANGE RATES TABLE C.5. COUNTRY EXPORT DATA TABLES C.6-C.8. DOMESTIC EXPORTS, RE-EXPORTS AND MERCHANDISE EXPORTS TABLE C.9. DOMESTIC EXPORTS (1930 US DOLLARS) TABLE C.10. UNIT VALUE OF EXPORTS (1930100) TABLE C.11. EXPORT VOLUME INDEX (1930100) TABLE C.12. VALUE OF COMMODITY EXPORTS TABLE C.13. STRUCTURE OF DOMESTIC EXPORTS (%) TABLE C.14. COMMODITY PRICES TABLES C.15-C.17. EXPORTS BY DESTINATION (%) TABLES C.18-C.21. MERCHANDISE AND RETAINED IMPORTS AT CURRENT AND CONSTANT (1930) PRICES TABLES C.22-C.24. IMPORTS BY SOURCE (%) TABLE C.25. IMPORT PRICE INDEX (1930100) TABLES C.26-C.27. NET BARTER TERMS OF TRADE AND INCOME TERMS OF TRADE (1930100) TABLES C.28-C.31. PUBLIC REVENUE AND EXPENDITURE AT CURRENT AND CONSTANT (1930) PRICES TABLE C.32. PRICE INDEX FOR PUBLIC REVENUE AND EXPENDITURE (1930100) Hispaniola Haiti EXPORTS AND IMPORTS PRINCIPAL EXPORT PRODUCTS TRADE BY MAIN MARKET (%) PUBLIC REVENUE AND EXPENDITURE Dominican Republic EXPORTS AND IMPORTS PRINCIPAL EXPORT PRODUCTS TRADE BY MAIN MARKET (%) PUBLIC REVENUE AND EXPENDITURE Cuba EXPORTS AND IMPORTS PRINCIPAL EXPORT PRODUCTS TRADE BY MAIN MARKET (%) PUBLIC REVENUE AND EXPENDITURE British Dependencies Antigua EXPORTS AND IMPORTS PRINCIPAL EXPORT PRODUCTS TRADE BY MAIN MARKET (%) PUBLIC REVENUE AND EXPENDITURE Bahamas Barbados Belize British Virgin Islands Cayman Islands Dominica Grenada Guyana Jamaica Montserrat St Kitts, Nevis & Anguilla St Lucia St Vincent Trinidad & Tobago Turks & Caicos Islands French Dependencies French Guiana EXPORTS AND IMPORTS PRINCIPAL EXPORT PRODUCTS TRADE BY MAIN MARKET (%) PUBLIC REVENUE AND EXPENDITURE Guadeloupe EXPORTS AND IMPORTS PRINCIPAL EXPORT PRODUCTS TRADE BY MAIN MARKET (%) PUBLIC REVENUE AND EXPENDITURE Martinique EXPORTS AND IMPORTS PRINCIPAL EXPORT PRODUCTS TRADE BY MAIN MARKET (%) PUBLIC REVENUE AND EXPENDITURE Dutch Dependencies Dutch Antilles EXPORTS AND IMPORTS PRINCIPAL EXPORT PRODUCTS TRADE BY MAIN MARKET (%) PUBLIC REVENUE AND EXPENDITURE Suriname EXPORTS AND IMPORTS PRINCIPAL EXPORT PRODUCTS TRADE BY MAIN MARKET (%) PUBLIC REVENUE AND EXPENDITURE United States Dependencies Puerto Rico EXPORTS AND IMPORTS PRINCIPAL EXPORT PRODUCTS TRADE BY MAIN MARKET (%) PUBLIC REVENUE AND EXPENDITURE US Virgin Islands EXPORTS AND IMPORTS PRINCIPAL EXPORT PRODUCTS TRADE BY MAIN MARKET (%) PUBLIC REVENUE AND EXPENDITURE Notes on D Tables TABLES D.1 AND D.1a. POPULATION TABLES D.2 AND D.3. CRUDE BIRTH AND DEATH RATES TABLE D.4. EXCHANGE RATES Cuba Anguilla and Montserrat British Virgin Islands and Turks & Caicos Islands French Guiana, Guadeloupe and Martinique Suriname Puerto Rico TABLE D.5. PRINCIPAL COMMODITY EXPORT VALUES Sugar Guadeloupe and Martinique Puerto Rico and US Virgin Islands Molasses Bananas Tobacco Leaf Coffee Cacao Citrus Rice Petroleum Nonfuel Minerals Hispaniola HAITI DOMINICAN REPUBLIC Cuba CARICOM GUYANA JAMAICA SURINAME French Territories FRENCH GUIANA TABLE D.6. MERCHANDISE EXPORTS Cuba CARICOM Antigua The Bahamas Barbados Belize Jamaica St Lucia St Kitts & Nevis Trinidad & Tobago Suriname British Territories Anguilla British Virgin Islands Cayman Islands Montserrat Turks & Caicos Islands French Territories French Guiana Guadeloupe Martinique Dutch Territories Dutch Antilles Aruba US Territories Puerto Rico US Virgin Islands TABLE D.7. SERVICE EXPORTS Hispaniola Haiti Dominican Republic Cuba CARICOM Antigua The Bahamas Barbados Belize Dominica Grenada Guyana Jamaica St Kitts & Nevis St Lucia St Vincent Suriname Trinidad & Tobago BRITISH TERRITORIES Anguilla British Virgin Islands Cayman Islands Montserrat Turks & Caicos Islands French Territories French Guiana Guadeloupe Martinique Dutch Territories Dutch Antilles Aruba US Territories Puerto Rico US Virgin Islands TABLE D.8. TOTAL EXPORTS Anguilla British Virgin Islands Cayman Islands Montserrat Turks & Caicos TABLE D.9. TOTAL EXPORTS PRICE INDEX (2000100) Hispaniola Haiti Dominican Republic Cuba CARICOM Antigua The Bahamas Barbados Belize Dominica Grenada Guyana Jamaica St Kitts & Nevis St Lucia St Vincent Suriname Trinidad & Tobago British Territories Anguilla British Virgin Islands Cayman Islands Montserrat Turks & Caicos Islands French Territories French Guiana Guadeloupe Martinique Dutch Territories Dutch Antilles Aruba US Territories Puerto Rico US Virgin Islands TABLE D.10. TOTAL EXPORTS AT 2000 PRICES TABLE D.11. MERCHANDISE IMPORTS CARICOM Antigua Bahamas Jamaica St Kitts & Nevis British Territories Anguilla British Virgin Islands Cayman Islands Montserrat Turks & Caicos Islands French Territories French Guiana Guadeloupe Martinique Dutch Territories Dutch Antilles Aruba US Territories Puerto Rico US Virgin Islands TABLE D.12. SERVICE IMPORTS Hispaniola Haiti Dominican Republic Cuba CARICOM Barbados Guyana Jamaica Suriname Trinidad & Tobago British Territories Anguilla British Virgin Islands Cayman Islands Montserrat Turks & Caicos Islands French Territories French Guiana Guadeloupe Martinique Dutch Territories Dutch Antilles Aruba US Territories Puerto Rico US Virgin Islands TABLE D.13. TOTAL IMPORTS TABLE D.14. TOTAL IMPORTS PRICE INDEX (2000100) TABLE D.15. TOTAL IMPORTS AT 2000 PRICES TABLE D.16. NET BARTER TERMS OF TRADE (2000100) TABLE D.17. INCOME TERMS OF TRADE (2000100) TABLE D.18. GROSS DOMESTIC PRODUCT Cuba CARICOM Antigua Bahamas Dominica Grenada St Lucia Suriname British Territories British Virgin Islands Cayman Islands Montserrat Turks & Caicos Islands French Territories French Guiana Guadeloupe Martinique Dutch Territories Dutch Antilles Aruba US Territories Puerto Rico US Virgin Islands TABLE D.19. GROSS DOMESTIC PRODUCT (2000 PRICES) Cuba CARICOM Antigua Bahamas Dominica Grenada Jamaica St Kitts & Nevis St Lucia Suriname British Territories British Virgin Islands Cayman Islands Montserrat Turks & Caicos Islands French Territories French Guiana Guadeloupe Martinique Dutch Territories Dutch Antilles Aruba US Territories Puerto Rico US Virgin Islands TABLE D.20. ANNUAL INFLATION (%) Bibliography Index