NDLI: Historical trade integration: globalization and the distance puzzle in the long twentieth century

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Historical trade integration: globalization and the distance puzzle in the long twentieth century

Content Provider	Springer Nature Link
Author	Standaert, Samuel Ronsse, Stijn Vandermarliere, Benjamin
Copyright Year	2015
Abstract	In times of ongoing globalization, the notion of geographic neutrality expects the impact of distance on trade to become ever more irrelevant. However, over the last three decades a wide range of studies has found an increase in the importance of distance during the second half of the twentieth century. This paper tries to reframe this discussion by characterizing the effect of distance over a broader historical point of view. To make maximal use of the available data, we use a state-space model to construct a bilateral index of historical trade integration. Our index doubles to quadruples yearly data availability before 1950, allowing us to expand the period of analysis to 1880–2011. This implies that the importance of distance as a determinant of the changing trade pattern can be analyzed for both globalization waves. In line with O’Rourke (Politics and trade: lessons from past globalisations. Technical Report, Bruegel, 2009) and Jacks et al. (J Int Econ 83(2):185–201, 2011), we find that the first wave was marked by a strong, continuing decrease in the effect of distance. Initially, the second globalization wave started out similarly, but from the 1960s onward the importance of distance starts increasing. Nevertheless, this change is dwarfed by the strong decrease preceding it.
Starting Page	225
Ending Page	250
Page Count	26
File Format	PDF
ISSN	18632505
Journal	Cliometrica
Volume Number	10
Issue Number	2
e-ISSN	18632513
Language	English
Publisher	Springer Berlin Heidelberg
Publisher Date	2015-05-28
Publisher Place	Berlin, Heidelberg
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Trade integration Globalization Distance puzzle State-space model Economic Theory/Quantitative Economics/Mathematical Methods History Econometrics Methodology/History of Economic Thought Statistics for Business/Economics/Mathematical Finance/Insurance
Content Type	Text
Resource Type	Article
Subject	History Economics and Econometrics

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