Article | Journal of Economic History | September 2008

What T. R. Took: The Economic Impact of the Panama Canal, 1903-1937

by Noel Maurer and Carlos Yu

Abstract

The Panama Canal was one of the largest public investments of its time. In the first decade of its operation, the canal produced significant social returns for the United States. Most of these returns were due to the transportation of petroleum from California to the East Coast. The United States also succeeded in leveraging the threat of military force to obtain a much better deal from the Panamanian government than it could have negotiated otherwise.

Keywords: History; Development Economics; International Relations; Investment Return; Negotiation Deal; Panama; United States;

Citation:

Maurer, Noel, and Carlos Yu. "What T. R. Took: The Economic Impact of the Panama Canal, 1903-1937." Journal of Economic History 68, no. 3 (September 2008).