Commodity Market Disintegration in the Interwar Period
AbstractUsing data collected by the International Institute of Agriculture, 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 very substantial disintegration after 1929. The period saw the unravelling of a great many of the integration gains of the 1870-1913 period. While increased transport costs certainly help to explain the wartime disintegration, they cannot explain the post-1929 increase in trade costs. Protectionism seems the most likely alternative candidate.
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Date of creation: Mar 2009
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- William Hynes & David S. Jacks & Kevin H. O'rourke, 2012. "Commodity market disintegration in the interwar period," European Review of Economic History, Oxford University Press, vol. 16(2), pages 119-143, May.
- 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 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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- NEP-ALL-2009-03-14 (All new papers)
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