Global Trade and the Maritime Transport Revolution
AbstractWhat is the role of transport improvements in globalization? We argue that the nineteenth century is the ideal testing ground: maritime freight rates fell on average by 50% while global trade increased 400% from 1870 to 1913. We estimate the first indices of bilateral freight rates and directly incorporate these into a standard gravity model. We also take the endogeneity of bilateral trade and freight rates seriously and propose an instrumental variables approach. The results are striking: we find no evidence that the maritime transport revolution was the primary driver of the late-nineteenth-century global trade boom. (c) 2010 The President and Fellows of Harvard College and the Massachusetts Institute of Technology.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by MIT Press in its journal The Review of Economics and Statistics.
Volume (Year): 92 (2010)
Issue (Month): 4 (November)
Contact details of provider:
Web page: http://mitpress.mit.edu/journals/
Other versions of this item:
- David S. Jacks & Krishna Pendakur, 2008. "Global Trade and the Maritime Transport Revolution," NBER Working Papers 14139, National Bureau of Economic Research, Inc.
- F15 - International Economics - - Trade - - - Economic Integration
- F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General
- N70 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - General, International, or Comparative
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Klasing, Mariko & Milionis, Petros, 2012.
"Reassessing the Evolution of World Trade, 1870-1949,"
39555, University Library of Munich, Germany.
- Milionis, Petros & Klasing, Mariko J., 2012. "Reassessing the Evolution of World Trade, 1870-1949," GGDC Research Memorandum GD-126, Groningen Growth and Development Centre, University of Groningen.
- David S. Jacks & Christopher M. Meissner & Dennis Novy, 2009.
"Trade Booms, Trade Busts, and Trade Costs,"
NBER Working Papers
15267, National Bureau of Economic Research, Inc.
- David S. Jacks & Christopher M. Meissner & Dennis Novy, 2009. "Trade Booms, Trade Busts, and Trade Costs," CESifo Working Paper Series 2767, CESifo Group Munich.
- Jacks, David S; Meissner, Christopher; Novy, Dennis, 2010. "Trade Booms, Trade Busts and Trade Costs," CAGE Online Working Paper Series 33, Competitive Advantage in the Global Economy (CAGE).
- David Harvey & Neil Kellard & Jakob Madsen & Mark Wohar, 2012. "Trends and Cycles in Real Commodity Prices: 1650-2010," CEH Discussion Papers 010, Centre for Economic History, Research School of Economics, Australian National University.
- Kym Anderson, 2012. "Costing Global Trade Barriers, 1900 to 2050," Departmental Working Papers 2012-08, The Australian National University, Arndt-Corden Department of Economics.
- Klovland, Jan Tore, 2009. "New evidence on the fluctuations in ocean freight rates in the 1850s," Explorations in Economic History, Elsevier, vol. 46(2), pages 266-284, April.
- Pinilla, Vicente & Serranoz, Raul, 2008. "The agricultural and food trade in the first globalisation: Spanish table wine exports 1871 to 1935 – a case study," Working Papers 42657, American Association of Wine Economists.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Karie Kirkpatrick).
If references are entirely missing, you can add them using this form.