The Rise and Fall of World Trade, 1870-1939 / Antoni Estevadeordal, Brian Frantz, Alan M. Taylor.

Format:

Book

Author/Creator:

Estevadeordal, Antoni.

Contributor:

National Bureau of Economic Research.

Frantz, Brian.

Taylor, Alan M.

Series:

Working Paper Series (National Bureau of Economic Research) no. w9318.

NBER working paper series no. w9318

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2002.

Summary:

Measured by the ratio of trade to output, the period 1870 1913 marked the birth of the first era of trade globalization and the period 1914 39 its death. What caused the boom and bust? We use an augmented gravity model to examine the gold standard, tariffs, and transport costs as determinants of trade. Until 1913 the rise of the gold standard and the fall in transport costs were the main trade-creating forces. As of 1929 the reversal was driven by higher transport costs. In the 1930s, the final collapse of the gold standard drove trade volumes even lower.

Notes:

Print version record

November 2002.