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Growth from Globalization? A View from the Very Long Run

In: Handbook of Economic Growth

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  • Meissner, Christopher M.

Abstract

What is the connection between different forms of globalization, economic growth, and welfare? International trade, cross-border capital flows, and labor movements are three areas in which economic historians have focused their research. I critically summarize various measures of international integration in each of these spheres. I then move on to discuss and evaluate the ongoing and active debate about whether globalization is significantly associated with growth in the past. I pay particular attention to the role of globalization in the Great Divergence, the tariff-trade-growth debate, and the globalization of capital markets in the 19th century.

Suggested Citation

  • Meissner, Christopher M., 2014. "Growth from Globalization? A View from the Very Long Run," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 2, chapter 8, pages 1033-1069, Elsevier.
    • Handle: RePEc:eee:grochp:2-1033
    DOI: 10.1016/B978-0-444-53540-5.00008-2
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    Keywords

    Great divergence; De-industrialization; Capital flows; First wave of globalization; Integration;
    All these keywords.

    JEL classification:

    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • F15 - International Economics - - Trade - - - Economic Integration
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • N70 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - General, International, or Comparative
    • N20 - Economic History - - Financial Markets and Institutions - - - General, International, or Comparative

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