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Profits du commerce intercontinental et croissance dans la France du xviiie siècle

Author

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  • Guillaume Daudin

Abstract

This paper studies the role of French intercontinental trade in the accumulation of domestic capital at the end of the Ancien Régime. It uses O’Brien’s method to measure the amount of annual profits generated by this sector. The marginal gain linked to the existence of the sector is then computed by estimating what would have been the return of the resources the sector was using if they had been invested domestically instead. Finally, the paper uses the notion of “hearth of growth” to argue that profits from intercontinental trade were more important for the French economy than what their size suggests. Classification JEL : F23, N13, N73, O41

Suggested Citation

  • Guillaume Daudin, 2006. "Profits du commerce intercontinental et croissance dans la France du xviiie siècle," Revue économique, Presses de Sciences-Po, vol. 57(3), pages 605-613.
  • Handle: RePEc:cai:recosp:reco_573_0605
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    References listed on IDEAS

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    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
    2. Daron Acemoglu & Simon Johnson & James Robinson, 2005. "The Rise of Europe: Atlantic Trade, Institutional Change, and Economic Growth," American Economic Review, American Economic Association, vol. 95(3), pages 546-579, June.
    3. Daudin, Guillaume, 2004. "Profitability of Slave and Long-Distance Trading in Context: The Case of Eighteenth-Century France," The Journal of Economic History, Cambridge University Press, vol. 64(01), pages 144-171, March.
    4. Eltis, David & Engerman, Stanley L., 2000. "The Importance of Slavery and the Slave Trade to Industrializing Britain," The Journal of Economic History, Cambridge University Press, vol. 60(01), pages 123-144, March.
    5. Robert C. Allen, 2003. "Progress and poverty in early modern Europe," Economic History Review, Economic History Society, vol. 56(3), pages 403-443, August.
    6. R. B. Sheridan, 1965. "The Wealth of Jamaica in the Eighteenth Century," Economic History Review, Economic History Society, vol. 18(2), pages 292-311, August.
    7. Guillaume Daudin, 2005. "Commerce et prospérité : la France au XVIIIe siècle," Sciences Po publications 19, Sciences Po.
    8. Guillaume Daudin, 2003. "Do Frontiers give of do frontiers take ? The case of intercontinental trade in France at the end of the Ancien Régime," Documents de Travail de l'OFCE 2003-03, Observatoire Francais des Conjonctures Economiques (OFCE).
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    10. T.M. Devine, 1976. "The Colonial Trades and Industrial Investment in Scotland, c. 1700-1815," Economic History Review, Economic History Society, vol. 29(1), pages 1-13, February.
    11. Darity, William, 1985. "The Numbers Game and the Profitability of the British Trade in Slaves," The Journal of Economic History, Cambridge University Press, vol. 45(03), pages 693-703, September.
    12. Rebelo, Sergio, 1991. "Long-Run Policy Analysis and Long-Run Growth," Journal of Political Economy, University of Chicago Press, vol. 99(3), pages 500-521, June.
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    14. Patrick O'Brien, 1982. "European Economic Development: The Contribution of the Periphery," Economic History Review, Economic History Society, vol. 35(1), pages 1-18, February.
    15. Inikori, J. E., 1981. "Market Structure and the Profits of the British African Trade in the Late Eighteenth Century," The Journal of Economic History, Cambridge University Press, vol. 41(04), pages 745-776, December.
    16. Thomas, Robert Paul & Bean, Richard Nelson, 1974. "The Fishers of Men: The Profits of the Slave Trade," The Journal of Economic History, Cambridge University Press, vol. 34(04), pages 885-914, December.
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    Cited by:

    1. Costa, Leonor Freire & Palma, Nuno & Reis, Jaime, 2013. "The great escape? The contribution of the empire to Portugal’s economic growth, 1500-1800," IFCS - Working Papers in Economic History.WH wp13-07, Universidad Carlos III de Madrid. Instituto Figuerola.

    More about this item

    JEL classification:

    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • N13 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: Pre-1913
    • N73 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - Europe: Pre-1913
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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