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World Trade, 1800-1938: A New Synthesis

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  • Federico, Giovanni
  • Tena-Junguito, Antonio

Abstract

This paper outlines the development of world trade from 1800 to 1938. It relies on a newly compiled database, which, unlike previous works (e.g. Lewis 1981), reports series of imports and exports at current and constant prices and at current and constant (1913) borders for almost all existing polities. In the first sections, we outline the estimation methodology and assess the reliability of the series (now available at http://www.uc3m.es/tradehist_db). World trade grew very fast throughout the «long» 19th century, but growth rates were higher before 1870. We measure the effects of war and the Great Depression on total trade and trade by continent and polity. Within this general upward trend, the performance of polities differed by geographical location, level of development, political status and factor endowment. Finally, we estimate trends in the share of primary products, which declined until World War One, with an acceleration in the second half of the 19th century.

Suggested Citation

  • Federico, Giovanni & Tena-Junguito, Antonio, 2019. "World Trade, 1800-1938: A New Synthesis," Revista de Historia Económica / Journal of Iberian and Latin American Economic History, Cambridge University Press, vol. 37(1), pages 9-41, March.
    • Handle: RePEc:cup:reveco:v:37:y:2019:i:01:p:9-41_00
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    Cited by:

    1. Eberhardt, Markus & Presbitero, Andrea F., 2021. "Commodity prices and banking crises," Journal of International Economics, Elsevier, vol. 131(C).
    2. Alejandro Ayuso‐Díaz & Antonio Tena‐Junguito, 2020. "Trade in the shadow of power: Japanese industrial exports in the interwar years," Economic History Review, Economic History Society, vol. 73(3), pages 815-843, August.
    3. Giacomo Domini, 2019. "Patterns of specialisation and economic complexity through the lens of universal exhibitions, 1855-1900," LEM Papers Series 2019/20, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    4. Ayuso-Díaz, Alejandro, 2022. "Natural trading partners versus empires in East and Southeast Asia regional integration (1840-1938)," Journal of the Japanese and International Economies, Elsevier, vol. 63(C).
    5. Vincent Bignon & Cecilia Garcia-Peñalosa, 2018. "The Toll of Tariffs: Protectionism, Education and Fertility in Late 19th Century France," Working papers 690, Banque de France.
    6. Timini, Jacopo, 2023. "Revisiting the ‘Cobden-Chevalier network’ trade and welfare effects," Explorations in Economic History, Elsevier, vol. 89(C).
    7. Domini, Giacomo, 2022. "Patterns of specialization and economic complexity through the lens of universal exhibitions, 1855-1900," Explorations in Economic History, Elsevier, vol. 83(C).
    8. Federico, Giovanni & Bisin, Alberto, 2021. "Merger or acquisition? An introduction to the Handbook of Historical economics," CEPR Discussion Papers 15795, C.E.P.R. Discussion Papers.
    9. María‐Isabel Ayuda & Hugo Ferrer‐Pérez & Vicente Pinilla, 2020. "A leader in an emerging new international market: the determinants of French wine exports, 1848–1938," Economic History Review, Economic History Society, vol. 73(3), pages 703-729, August.
    10. Betrán, Concepción & Huberman, Michael, 2024. "Unintended consequences: International trade shocks and electoral outcomes during the Second Spanish Republic, 1931–1936," Explorations in Economic History, Elsevier, vol. 92(C).
    11. Luke H. Grayson & Brian D. Varian, 2023. "Economic Aspects of Australian Federation: Trade Restrictiveness and Welfare Effects in the Colonies and the Commonwealth, 1901-3," CEH Discussion Papers 01, Centre for Economic History, Research School of Economics, Australian National University.
    12. Tunçer, Ali Coşkun & Weller, Leonardo, 2022. "Democracy, autocracy, and sovereign debt: How polity influenced country risk on the peripheries of the global economy, 1870–1913," Explorations in Economic History, Elsevier, vol. 85(C).

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