Commodity market disintegration in the interwar period
AbstractIn this paper, we document the disintegration of international commodity markets between 1913 and 1938. There was dramatic disintegration during World War I, gradual reintegration during the 1920s, and then a substantial disintegration after 1929. The period saw the unravelling of many of the integration gains of 1870-1913. While increased transport costs help explain the wartime disintegration, they cannot explain the post-1929 increase in trade costs. The proliferation of tariff and non-tariff barriers to trade, the collapse of the interwar gold standard, and the evaporation of commercial credit loom large as suspects. Copyright , Oxford University Press.
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Bibliographic InfoArticle provided by Oxford University Press in its journal European Review of Economic History.
Volume (Year): 16 (2012)
Issue (Month): 2 (May)
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- William Hynes & David S. Jacks & Kevin H. O'Rourke, 2009. "Commodity Market Disintegration in the Interwar Period," NBER Working Papers 14767, National Bureau of Economic Research, Inc.
- Hynes, William & Jacks, David S. & O Rourke, Kevin H., 2009. "Commodity Market Disintegration in the Interwar Period," CEPR Discussion Papers 7189, C.E.P.R. Discussion Papers.
- William Hynes, David S Jacks and Kevin H. O’Rourke, 2009. "Commodity Market Disintegration in the Interwar Period," The Institute for International Integration Studies Discussion Paper Series iiisdp285, IIIS.
- F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
- F15 - International Economics - - Trade - - - Economic Integration
- F59 - International Economics - - International Relations, National Security, and International Political Economy - - - Other
- N70 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - General, International, or Comparative
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