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The Economics of the Manila Galleon

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  • Javier Mejia

    (Division of Social Science)

Abstract

The Manila Galleon was a commercial route that existed from 1565 to 1815. It connected Asia and America through the Pacific Ocean. It was a fundamental step in the history of globalization. The objective of this essay is to offer an economic framework to interpret the existing evidence on the Manila Galleon. Based on this framework, the essay identifies that the Manila Galleon was only possible thanks to the coincidence of a quite singular set of international circumstances and favorable market conditions at the local level. Additionally, the essay explores the experience of New Granada as a way to highlight the large asymmetry in the role and impact of the Manila Galleon trade across regions.

Suggested Citation

  • Javier Mejia, 2019. "The Economics of the Manila Galleon," Working Papers 20190023, New York University Abu Dhabi, Department of Social Science, revised Jan 2019.
    • Handle: RePEc:nad:wpaper:20190023
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