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Political Limits to Globalization

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  • Daron Acemoglu
  • Pierre Yared

Abstract

Despite the major advances in information technology that have shaped the recent wave of globalization, openness to trade is still a political choice, and trade policy can change with shifts in domestic political equilibria. This paper suggests that a particular threat and a limiting factor to globalization and its future developments may be militarist sentiments that appear to be on the rise among many nations around the globe today. We proxy militarism by spending on the military and the size of the military, and document that over the past 20 years, countries experiencing greater increases in militarism according to these measures have had lower growth in trade. Focusing on bilateral trade flows, we also show that controlling flexibly for country trends, a pair of countries jointly experiencing greater increases in militarism has lower growth in bilateral trade.

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Bibliographic Info

Article provided by American Economic Association in its journal American Economic Review.

Volume (Year): 100 (2010)
Issue (Month): 2 (May)
Pages: 83-88

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Handle: RePEc:aea:aecrev:v:100:y:2010:i:2:p:83-88

Note: DOI: 10.1257/aer.100.2.83
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  1. Philippe Martin & Thierry Mayer & Mathias Thoenig, 2008. "Make Trade Not War?," Review of Economic Studies, Oxford University Press, vol. 75(3), pages 865-900.
  2. Anna Maria Mayda (Georgetown University) and Dani Rodrik (Harvard University), 2005. "Why are some people (and countries) more protectionist than others?," Working Papers gueconwpa~05-05-11, Georgetown University, Department of Economics.
  3. K. H. O'Rourke & R. Sinnott, 2001. "The Determinants of Individual Trade Policy Preferences: International Survey Evidence," CEG Working Papers 20016, Trinity College Dublin, Department of Economics.
  4. Ronald Findlay & Kevin H. O'Rourke, 2007. "Power and Plenty: Trade, War and the World Economy in the Second Millennium (Preface)," The Institute for International Integration Studies Discussion Paper Series iiisdp205, IIIS.
  5. Eichengreen, Barry & Irwin, Douglas A., 2010. "The Slide to Protectionism in the Great Depression: Who Succumbed and Why?," The Journal of Economic History, Cambridge University Press, vol. 70(04), pages 871-897, December.
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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Les limites politiques de la mondialisation
    by Yannick Bourquin in Que disent les économistes? on 2010-06-23 04:00:00
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Cited by:
  1. Sergey Mityakov & Heiwai Tang & Kevin K. Tsui, 2012. "InternationalPolitics and Import Diversification in the Second Wave of Globalization," Discussion Papers Series, Department of Economics, Tufts University 0770, Department of Economics, Tufts University.
  2. Lan, Xiaohuan & Li, Ben, 2011. "Nationalism and international trade: theory and evidence," MPRA Paper 36412, University Library of Munich, Germany, revised 03 Feb 2012.
  3. Yazdani, Naveed & Mamoon, Dawood, 2012. "The economics and philosophy of globalization," MPRA Paper 36091, University Library of Munich, Germany.
  4. Sebastian Galiani & Gustavo Torrens, 2013. "Autocracy, Democracy and Trade Policy," NBER Working Papers 19321, National Bureau of Economic Research, Inc.
  5. Imai, Masami & Shelton, Cameron A., 2011. "Elections and political risk: New evidence from the 2008 Taiwanese Presidential Election," Journal of Public Economics, Elsevier, vol. 95(7), pages 837-849.
  6. Seitz, Michael & Tarasov, Alexander & Zakharenko, Roman, 2013. "Trade Costs, Conflicts, and Defense Spending," Discussion Papers in Economics 15733, University of Munich, Department of Economics.
  7. Sergey Mityakov & Heiwai Tang & Kevin K. Tsui, 2011. "Geopolitics, Global Patterns of Oil Trade, and China¡¦s Oil Security Quest," Working Papers 322011, Hong Kong Institute for Monetary Research.

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