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After Columbus: Explaining Europe'S Overseas Trade Boom, 1500 1800

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  • O'Rourke, Kevin H.
  • Williamson, Jeffrey G.

Abstract

This study documents the boom in Europe s imports from Asia and the Americas between 1500 and 1800 and explores its causes. There was no commodity-price convergence between continents, suggesting that declining trade barriers were not the cause of the boom. Thus, it must have been caused by some combination of European import demand and foreign export supply. The behavior of the relative price of foreign importables in European cities should tell us which mattered most and when: we provide the evidence and offer a model which is used to decompose the sources of Europe s overseas trade boom.

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Bibliographic Info

Article provided by Cambridge University Press in its journal The Journal of Economic History.

Volume (Year): 62 (2002)
Issue (Month): 02 (June)
Pages: 417-456

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Handle: RePEc:cup:jechis:v:62:y:2002:i:02:p:417-456_00

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Cited by:
  1. Joan R. Roses & Kevin H. O'Rourke & Jeffrey G. Williamson, 2007. "Globalization, Growth and Distribution in Spain 1500-1913," The Institute for International Integration Studies Discussion Paper Series iiisdp212, IIIS.
  2. Kevin H. O'Rourke & Jeffrey G. Williamson, 2006. "Did Vasco da Gama Matter for European Markets? Testing Frederick Lane's Hypotheses Fifty Years Later," Trinity Economics Papers tep2007, Trinity College Dublin, Department of Economics.
  3. Antoni Estevadeordal & Brian Frantz & Alan M. Taylor, 2003. "The Rise And Fall Of World Trade, 1870-1939," The Quarterly Journal of Economics, MIT Press, vol. 118(2), pages 359-407, May.
  4. Nico Voigtl?nder & Hans-Joachim Voth, 2013. "Gifts of Mars: Warfare and Europe's Early Rise to Riches," Journal of Economic Perspectives, American Economic Association, vol. 27(4), pages 165-86, Fall.
  5. Art Carden, 2010. "The economics of “Certaine Lewd and Ill-Disposed Persons”: Comment on Leeson," The Review of Austrian Economics, Springer, vol. 23(3), pages 287-292, September.
  6. David S. Jacks, 2010. "Foreign Wars, Domestic Markets: England, 1793-1815," NBER Working Papers 16236, National Bureau of Economic Research, Inc.
  7. Angus Maddison, 2005. "La Economia de Occidente y la del Resto del Mundo: una Perspectiva Milenaria," Working Papers in Economic History dilf0501, Universidad Carlos III, Departamento de Historia Económica e Instituciones.
  8. Alan M. Taylor, 2002. "Globalization, Trade, and Development: Some Lessons From History," NBER Working Papers 9326, National Bureau of Economic Research, Inc.
  9. Michael A. Clemens & Jeffrey G. Williamson, 2002. "Closed Jaguar, Open Dragon: Comparing Tariffs in Latin America and Asia before World War II," NBER Working Papers 9401, National Bureau of Economic Research, Inc.
  10. Dobado-González, Rafael, 2013. "La globalización hispana del comercio y el arte en la Edad Moderna
    [The hispanic globalization of commerce and art in the early modern era]
    ," MPRA Paper 51112, University Library of Munich, Germany.

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