American Growth and Napoleonic Wars
AbstractFour years after the French Revolution, in 1793 a series of wars among France and other major powers of Europe began and they lasted until 1815. There is disagreement among economic historians about the effects of these wars on the trend of US economic growth. This paper aims to answer the following question. Did America as a neutral nation take advantage of economic possibilities caused by Europe at war through trade? To put it differently, this paper questions whether there was an export-led growth due to the war. To answer this question, we re-examined the export-led growth hypothesis for the period 1790-1860 using the ARDL methodology. Based on this methodology, a cointegrated relationship is found among the variables of real GDP, labor, exports and exchange rates. The results suggest that the economic growth of the US was not export-driven. In addition, parallel to the results of unit root tests with structural breaks, the coefficient of the dummy variable was statistically significant in the long run, implying that the war did have a significant effect on the economic growth trend of the US.
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 Savez ekonomista Vojvodine, Novi Sad, Serbia in its journal Panoeconomicus.
Volume (Year): 60 (2013)
Issue (Month): 5 (September)
Contact details of provider:
Web page: http://www.panoeconomicus.rs/
Napoleonic wars; United States trade growth; ARDL methodology;
Find related papers by JEL classification:
- N11 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - U.S.; Canada: Pre-1913
- N41 - Economic History - - Government, War, Law, International Relations, and Regulation - - - U.S.; Canada: Pre-1913
- N71 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - U.S.; Canada: Pre-1913
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Perron, P, 1988.
"The Great Crash, The Oil Price Shock And The Unit Root Hypothesis,"
338, Princeton, Department of Economics - Econometric Research Program.
- Perron, Pierre, 1989. "The Great Crash, the Oil Price Shock, and the Unit Root Hypothesis," Econometrica, Econometric Society, vol. 57(6), pages 1361-1401, November.
- Kevin O'Rourke, 2005.
"The worldwide economic impact of the Revolutionary and Napoleonic Wars,"
Trinity Economics Papers
200059, Trinity College Dublin, Department of Economics.
- O'Rourke, Kevin H, 2005. "The Worldwide Economic Impact of the Revolutionary and Napoleonic Wars," CEPR Discussion Papers 5079, C.E.P.R. Discussion Papers.
- Kevin H. O'Rourke, 2005. "The Worldwide Economic Impact of the Revolutionary and Napoleonic Wars," NBER Working Papers 11344, National Bureau of Economic Research, Inc.
- Kevin O'Rourke, 2005. "The worldwide economic impact of the Revolutionary and Napoleonic Wars," Trinity Economics Papers tep9, Trinity College Dublin, Department of Economics.
- Marin, Dalia, 1992.
"Is the Export-Led.Growth Hypothesis Valid for Industrialized Countries?,"
The Review of Economics and Statistics,
MIT Press, vol. 74(4), pages 678-88, November.
- Marin, Dalia, 1990. "Is the Export-Led Growth Hypothesis Valid for Industrialized Countries?," CEPR Discussion Papers 362, C.E.P.R. Discussion Papers.
- Marin, Dalia, 1992. "Is the Export-led Growth Hypothesis Valid for Industrialized Countries?," Munich Reprints in Economics 3112, University of Munich, Department of Economics.
- Taylor, George Rogers, 1964. "American Economic Growth Before 1840: An Exploratory Essay," The Journal of Economic History, Cambridge University Press, vol. 24(04), pages 427-444, December.
- Balassa, Bela, 1978. "Exports and economic growth : Further evidence," Journal of Development Economics, Elsevier, vol. 5(2), pages 181-189, June.
- Graham Elliott & Thomas J. Rothenberg & James H. Stock, 1992.
"Efficient Tests for an Autoregressive Unit Root,"
NBER Technical Working Papers
0130, National Bureau of Economic Research, Inc.
- Antoine Brunet, 2009. "A Pertinent Analytic Method to Correctly Measure Contributions to Growth in Gross Domestic Product," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 56(3), pages 397-408, September.
- Dolado, Juan J & Jenkinson, Tim & Sosvilla-Rivero, Simon, 1990. " Cointegration and Unit Roots," Journal of Economic Surveys, Wiley Blackwell, vol. 4(3), pages 249-73.
- Titus Awokuse, 2006.
"Export-led growth and the Japanese economy: evidence from VAR and directed acyclic graphs,"
Taylor & Francis Journals, vol. 38(5), pages 593-602.
- Titus Awokuse, 2005. "Export-led growth and the Japanese economy: evidence from VAR and directed acyclic graphs," Applied Economics Letters, Taylor & Francis Journals, vol. 12(14), pages 849-858.
- Fosu, Augustin Kwasi, 1990. "Exports and economic growth: The African case," World Development, Elsevier, vol. 18(6), pages 831-835, June.
- Goldin, Claudia D. & Lewis, Frank D., 1980. "The role of exports in American economic growth during the napoleonic wars, 1793 to 1807," Explorations in Economic History, Elsevier, vol. 17(1), pages 6-25, January.
- Nowak-Lehmann D., Felicitas & Herzer, Dierk & Siliverstovs, Boriss, 2005.
"Export-Led Growth in Chile: Assessing the Role of Export Composition in Productivity Growth,"
Proceedings of the German Development Economics Conference, Kiel 2005
20, Verein für Socialpolitik, Research Committee Development Economics.
- Dierk HERZER & Felicitas NOWAK-LEHMANN D. & Boriss SILIVERSTOVS, 2006. "Export-Led Growth In Chile: Assessing The Role Of Export Composition In Productivity Growth," The Developing Economies, Institute of Developing Economies, vol. 44(3), pages 306-328.
- Dierk Herzer & Felicitas Nowak-Lehmann D. & Boriss Siliverstovs, 2004. "Export-Led Growth in Chile: Assessing the Role of Export Composition in Productivity Growth," Ibero America Institute for Econ. Research (IAI) Discussion Papers 103, Ibero-America Institute for Economic Research.
- Jang Jin, 2002. "Exports and growth: is the export-led growth hypothesis valid for provincial economies?," Applied Economics, Taylor & Francis Journals, vol. 34(1), pages 63-76.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ivana Horvat) The email address of this maintainer does not seem to be valid anymore. Please ask Ivana Horvat to update the entry or send us the correct address.
If references are entirely missing, you can add them using this form.