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The French (Trade) Revolution of 1860: Intra-Industry Trade and Smooth Adjustment / Stéphane Becuwe, Bertrand Blancheton, Christopher M. Meissner.
- Format:
- Book
- Author/Creator:
- Becuwe, Stéphane.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w25173.
- NBER working paper series no. w25173
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- French
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2018.
- Summary:
- The Cobden-Chevalier treaty of 1860 eliminated many French import prohibitions and lowered tariffs between France and Britain. Policy change was largely unexpected and unusually free from direct lobbying. A series of commercial treaties with other nations followed because of the use of the unconditional-MFN clause. Post-1860 in France, we find a significant rise in intra-industry trade. On average, rising imports did not prejudice exports. Liberalization allowed for an expansion of two-way trade in differentiated products. The findings are consistent with the "smooth adjustment" hypothesis. Anti-competitive, protectionist lobbying apparent from 1878 was not necessarily a backlash to enhanced international competition.
- Notes:
- Print version record
- October 2018.
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