| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13818 |
| DP13818 The effects of market integration during the first globalization: a multi-market approach | |
| Giovanni Federico; David Chilosi | |
| 发表日期 | 2019-06-21 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | This paper measures the effects of international market integration on world trade and welfare during the first globalization (1815-1913). The analysis is carried out with a multi-market partial equilibrium model, which takes into account the interactions between route-specific changes in trade costs. We consider world trade in the two principal traded commodities, cotton and wheat. The collapse in trade costs accounted for 60% of the increase in trade in cotton and 40% of the increase in trade of wheat. Both producers and consumers gained, but welfare gains were inversely related to the size of the country and positively to the level of openness to trade. We infer that welfare gains from international market integration were equivalent to substantial shares of economic growth in the ‘long 19th century’. |
| 主题 | Economic History |
| 关键词 | market integration Globalization Trade Welfare gains |
| URL | https://cepr.org/publications/dp13818 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/542692 |
| 推荐引用方式 GB/T 7714 | Giovanni Federico,David Chilosi. DP13818 The effects of market integration during the first globalization: a multi-market approach. 2019. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
