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How Much Trade Liberalization Was There in the World Before and After Cobden-Chevalier?

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  • TENA-JUNGUITO, ANTONIO
  • LAMPE, MARKUS
  • FERNANDES, FELIPE TÂMEGA

Abstract

The Cobden-Chevalier Treaty of 1860 is regarded as central turning point in nineteenth-century trade policy, inaugurating a free trade era in Western Europe. We reexamine this story and put it into global perspective with a new database covering more than 7,500 data points for 11 categories of manufactures in 41 countries and colonies around the world between 1846 and 1880. It reveals that bilateralism after 1860 reinforced a process already underway before. Nevertheless, we highlight that trade liberalization was a global phenomenon over most of our period, so that the prominent British case appears as typical rather than exceptional.

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  • Tena-Junguito, Antonio & Lampe, Markus & Fernandes, Felipe Tã‚Mega, 2012. "How Much Trade Liberalization Was There in the World Before and After Cobden-Chevalier?," The Journal of Economic History, Cambridge University Press, vol. 72(3), pages 708-740, August.
    • Handle: RePEc:cup:jechis:v:72:y:2012:i:03:p:708-740_00
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    Cited by:

    1. Julia Cage & Lucie Gadenne, 2014. "Tax Revenues, Development, and the Fiscal Cost of Trade Liberalization, 1792-2006," Sciences Po publications info:hdl:2441/4icc4hr7684, Sciences Po.
    2. Vincent Bignon & Cecilia Garcia-Peñalosa, 2016. "Protectionism and the Education-Fertility Trade-off in Late 19th Century France," AMSE Working Papers 1604, Aix-Marseille School of Economics, France, revised Jan 2016.
    3. Patrick Alexander & Ian Keay, 2018. "Responding to the First Era of Globalization: Canadian Trade Policy, 1870–1913," Staff Working Papers 18-42, Bank of Canada.
    4. Giovanni Federico & Antonio Tena-Junguito, 2017. "A tale of two globalizations: gains from trade and openness 1800–2010," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 153(3), pages 601-626, August.
    5. Manuel Llorca-Jaña, 2014. "The impact of early nineteenth-century globalization on foreign trade in the Southern Cone: A study of British trade statistics," Investigaciones de Historia Económica - Economic History Research (IHE-EHR), Journal of the Spanish Economic History Association, Asociación Española de Historia Económica, vol. 10(01), pages 46-56.
    6. Cagé, Julia & Gadenne, Lucie, 2018. "Tax revenues and the fiscal cost of trade liberalization, 1792–2006," Explorations in Economic History, Elsevier, vol. 70(C), pages 1-24.
    7. Federico, Giovanni & Tena Junguito, Antonio, 2013. "The ripples of the Industrial revolution: exports, economic growth and regional integration in Italy in the early 19th century," IFCS - Working Papers in Economic History.WH wp13-02, Universidad Carlos III de Madrid. Instituto Figuerola.
    8. Juha Sahi, 2017. "Most-favoured-nation treaty in service of trade? Case: early trade policy relations between Finland and Japan and their impact on the sales networks of the Finnish forest industry," Scandinavian Economic History Review, Taylor & Francis Journals, vol. 65(1), pages 88-105, January.
    9. Giovanni Federico & Antonio Tena‐Junguito, 2017. "Lewis revisited: tropical polities competing on the world market, 1830–1938," Economic History Review, Economic History Society, vol. 70(4), pages 1244-1267, November.
    10. Réka Juhász & Claudia Steinwender, 2018. "Spinning the Web: The Impact of ICT on Trade in Intermediates and Technology Diffusion," NBER Working Papers 24590, National Bureau of Economic Research, Inc.
    11. Brian D. Varian, 2018. "Anglo†American trade costs during the first era of globalization: the contribution of a bilateral tariff series," Economic History Review, Economic History Society, vol. 71(1), pages 190-212, February.
    12. Wolfgang Keller & Markus Lampe & Carol H. Shiue, 2020. "International Transactions: Real Trade and Factor Flows between 1700 and 1870," NBER Working Papers 26865, National Bureau of Economic Research, Inc.
    13. Restrepo-Estrada, Maria Isabel & Tena Junguito, Antonio, 2016. "The roots of regional trade in the Americas 1870 to 1950," IFCS - Working Papers in Economic History.WH 23304, Universidad Carlos III de Madrid. Instituto Figuerola.
    14. Feuerstein Switgard, 2013. "From the Zollverein to the Economics of Regionalism," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 233(3), pages 367-388, June.
    15. Giovanni Federico & Antonio Tena-Junguito, 2014. "The ripples of the industrial revolution: exports, economic growth, and regional integration in Italy in the early nineteenth century," European Review of Economic History, Oxford University Press, vol. 18(3), pages 349-369.
    16. Stéphane Becuwe & Bertrand Blancheton & Christopher M. Meissner, 2018. "The French (Trade) Revolution of 1860: Intra-Industry Trade and Smooth Adjustment," NBER Working Papers 25173, National Bureau of Economic Research, Inc.
    17. Richard Pomfret & Markus Lampe & Florian Ploeckl, 2014. "Spanning the Globe: The Rise of Global Communications Systems and the First Globalisation," Australian Economic History Review, Economic History Society of Australia and New Zealand, vol. 54(3), pages 242-261, November.

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    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • N70 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - General, International, or Comparative
    • O24 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Trade Policy; Factor Movement; Foreign Exchange Policy

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