This paper augments the new historical literature on factor price convergence. The focus is on the late nineteenth century, when economic convergence among the current OECD countries was dramatic; and the focus is on the convergence between Old World and New, by far the biggest participants in...

Standard neoclassical growth models rarely admits international factor mobility: convergence may result from factor accumulation in a closed economy, or from technology transfer. Conventional models are thus poorly equipped to explain the contribution of international factor flows to convergence...

Economic historians have been concerned with the evolution of international capital markets over the long run, but empirical testing of market integration has been limited. This paper augments the literature by investigating long- and short-run criteria for capital mobility using time-series and...