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Les transactions de la mondialisation

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  • Guillaume Daudin

Abstract

This paper studies the aggregate sum of transaction costs paid in world trade. In the first part, it presents the different methods of computing transaction costs, based on national accounts, price studies or movement of goods. All suggest that transaction costs are considerable. Gravity equations are the most reliable of the tools available, yet they allow only the computation of their value relative to other trade costs. In the second part, the paper studies the historical evolution of transaction costs. Gravity equations do not provide many clues on this subject. The evolution of transaction inputs indicates that transaction costs associated with an unchanging exchange have declined. However the study of the type of goods traded and of the partners and channels of exchange shows that this movement was counterbalanced by the increasing prevalence of high-transaction cost exchanges in world trade. JEL Codes : F1, N7, L8.

Suggested Citation

  • Guillaume Daudin, 2005. "Les transactions de la mondialisation," Revue de l'OFCE, Presses de Sciences-Po, vol. 92(1), pages 221-262.
  • Handle: RePEc:cai:reofsp:reof_092_0221
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    Cited by:

    1. Elisaveta Archanskaia & Guillaume Daudin, 2012. "Heterogeneity and the Distance Puzzle," Documents de Travail de l'OFCE 2012-17, Observatoire Francais des Conjonctures Economiques (OFCE).
    2. Guillaume Daudin, 2006. "Paying transaction costs," Sciences Po publications n°2006-14, Sciences Po.
    3. Guillaume Daudin & Elizaveta Archanskaia, 2012. "Heterogeneity and distance puzzle," Sciences Po publications 2012-17, Sciences Po.

    More about this item

    JEL classification:

    • F1 - International Economics - - Trade
    • N7 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services
    • L8 - Industrial Organization - - Industry Studies: Services

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