First globalization: Why did France miss the boat?
AbstractStarting from Bairoch’s observation of declining French foreign trade, especially in emerging markets during the first globalization (1880-1914), this article endeavours to identify the sources for the failure to exploit the opportunities afforded by global economic growth after 1870. For this purpose a comprehensive dataset of French imports and exports of unparalleled size was assembled to investigate the changes these underwent both in geographical and product distribution over a period of 64 years. Applying standard tests of trade flow concentration, we find that France’s trade structure reflected its early intra-industry specialization which implied increasing reliance on ‘proximity’ markets.
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Bibliographic InfoPaper provided by Groupe de Recherche en Economie Théorique et Appliquée in its series Cahiers du GREThA with number 2013-17.
Date of creation: 2013
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International trade; Intra-Industry trade; 1st globalization; Specialization; France;
Other versions of this item:
- Stéphane Bécuwe & Bertrand Blancheton & Léo Charles, 2013. "First globalization: why did France missed the boat?," Working Papers hal-00879996, HAL.
- N7 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-07-15 (All new papers)
- NEP-HIS-2013-07-15 (Business, Economic & Financial History)
- NEP-INT-2013-07-15 (International Trade)
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