IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this book chapter or follow this series

Growth from Globalization? A View from the Very Long Run

In: Handbook of Economic Growth

  • Meissner, Christopher M.

What is the connection between different forms of globalization, economic growth, and welfare? International trade, cross-border capital flows, and labor movements are three areas in which economic historians have focused their research. I critically summarize various measures of international integration in each of these spheres. I then move on to discuss and evaluate the ongoing and active debate about whether globalization is significantly associated with growth in the past. I pay particular attention to the role of globalization in the Great Divergence, the tariff-trade-growth debate, and the globalization of capital markets in the 19th century.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.sciencedirect.com/science/article/pii/B9780444535405000082
Download Restriction: Full text for ScienceDirect subscribers only

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

as
in new window

This chapter was published in:
  • Philippe Aghion & Steven Durlauf (ed.), 2013. "Handbook of Economic Growth," Handbook of Economic Growth, Elsevier, edition 1, volume 2, number 2.
  • This item is provided by Elsevier in its series Handbook of Economic Growth with number 2-1033.
    Handle: RePEc:eee:grochp:2-1033
    Contact details of provider: Web page: http://www.elsevier.com/wps/find/bookseriesdescription.cws_home/BS_HE/description

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

    as in new window
    1. O'Rourke, Kevin H & Taylor, Alan M & Williamson, Jeffrey G, 1996. "Factor Price Convergence in the Late Nineteenth Century," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 37(3), pages 499-530, August.
    2. Jakob B. Madsen, 2001. "Trade Barriers and the Collapse of World Trade During the Great Depression," Southern Economic Journal, Southern Economic Association, vol. 67(4), pages 848-868, April.
    3. James A. Robinson & Ragnar Torvik & Thierry Verdier, 2003. "Politcal Foundations of the Resource Curse," DELTA Working Papers 2003-33, DELTA (Ecole normale supérieure).
    4. Jacks, David S., 2006. "What drove 19th century commodity market integration?," Explorations in Economic History, Elsevier, vol. 43(3), pages 383-412, July.
    5. Paul M. Romer, 1993. "New Goods, Old Theory, and the Welfare Costs of Trade Restrictions," NBER Working Papers 4452, National Bureau of Economic Research, Inc.
    6. Nunn, Nathan, 2008. "The Long-Term Effects of Africa's Slave Trades," Scholarly Articles 3710252, Harvard University Department of Economics.
    7. Michael D. Bordo, 1995. "The Gold Standard as a `Good Housekeeping Seal of Approval'," NBER Working Papers 5340, National Bureau of Economic Research, Inc.
    8. Leonard Wantchekon & Nathan Nunn, 2009. "Trans-Atlantic Slave Trade and the Origins of Mistrust in Africa," 2009 Meeting Papers 34, Society for Economic Dynamics.
    9. Luis A. Rivera-Batiz & Paul M. Romer, 1990. "Economic Integration and Endogenous Growth," NBER Working Papers 3528, National Bureau of Economic Research, Inc.
    10. Obstfeld, Maurice & Taylor, Alan M., 2003. "Sovereign Risk, Credibility and the Gold Standard: 1870-1913 versus 1925-31," CEPR Discussion Papers 3688, C.E.P.R. Discussion Papers.
    11. repec:cup:cbooks:9780521687850 is not listed on IDEAS
    12. Andrew Coleman, 2007. "The pitfalls of estimating transactions costs from price data: evidence from trans-Atlantic gold-point arbitrage, 1886-1905," Reserve Bank of New Zealand Discussion Paper Series DP2007/07, Reserve Bank of New Zealand.
    13. Oded_Galor, 2004. "From Stagnation to Growth:Unified Growth Theory," Working Papers 2004-15, Brown University, Department of Economics.
    14. Moritz Schularick, 2005. "A Tale Of Two “Globalizations”: Capital Flows From Rich To Poor In Two Eras Of Global Finance," Economic History 0509001, EconWPA.
    15. Novy, Dennis, 2010. "International Trade without CES: Estimating Translog Gravity," CAGE Online Working Paper Series 32, Competitive Advantage in the Global Economy (CAGE).
    16. Eichengreen, Barry, 1996. "Golden Fetters: The Gold Standard and the Great Depression, 1919-1939," OUP Catalogue, Oxford University Press, number 9780195101133, March.
    17. Feenstra, Robert C, 1994. "New Product Varieties and the Measurement of International Prices," American Economic Review, American Economic Association, vol. 84(1), pages 157-77, March.
    18. Ian McLean, 2004. "Australian Economic Growth in Historical Perspective," Method and Hist of Econ Thought 0410003, EconWPA.
    19. Anderson, James E, 1979. "A Theoretical Foundation for the Gravity Equation," American Economic Review, American Economic Association, vol. 69(1), pages 106-16, March.
    20. James E. Anderson & Eric van Wincoop, 2004. "Trade Costs," NBER Working Papers 10480, National Bureau of Economic Research, Inc.
    21. Ronald Findlay & Kevin H. O'Rourke, 2007. "Power and Plenty: Trade, War and the World Economy in the Second Millennium (Preface)," Trinity Economics Papers tep0107, Trinity College Dublin, Department of Economics.
    22. Flynn, Dennis O. & Gir Ldez, Arturo, 2004. "Path dependence, time lags and the birth of globalisation: A critique of O'Rourke and Williamson," European Review of Economic History, Cambridge University Press, vol. 8(01), pages 81-108, April.
    23. Nicholas Crafts, 1999. "East Asian Growth Before and After the Crisis," IMF Staff Papers, Palgrave Macmillan, vol. 46(2), pages 2.
    24. Pierre-Olivier Gourinchas & Olivier Jeanne, 2004. "The Elusive Gains From International Financial Integration," IMF Working Papers 04/74, International Monetary Fund.
    25. J. Ernesto L�pez-C�rdova and Chris Meissner., 2000. "Exchange-Rate Regimes and International Trade: Evidence from the Classical Gold Standard Era," Center for International and Development Economics Research (CIDER) Working Papers C00-118, University of California at Berkeley.
    26. McCloskey, Donald N, 1970. "Britain's loss from foreign industrialization: A provisional estimate," Explorations in Economic History, Elsevier, vol. 8(2), pages 141-152.
    27. Williamson Jeffrey G., 1995. "The Evolution of Global Labor Markets since 1830: Background Evidence and Hypotheses," Explorations in Economic History, Elsevier, vol. 32(2), pages 141-196, April.
    28. Findlay, Ronald, 1982. "International distributive justice : A trade theoretic approach," Journal of International Economics, Elsevier, vol. 13(1-2), pages 1-14, August.
    29. Halvor Mehlum & Karl Moene & Ragnar Torvik, 2006. "Institutions and the Resource Curse," Economic Journal, Royal Economic Society, vol. 116(508), pages 1-20, 01.
    30. Michael A. Clemens & Jeffrey G. Williamson, 2004. "Wealth bias in the first global capital market boom, 1870-1913," Economic Journal, Royal Economic Society, vol. 114(495), pages 304-337, 04.
    31. 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.
    32. O'Rourke, K, 1997. "Tariffs and Growth in the Late 19th Century," Papers 97/18, College Dublin, Department of Political Economy-.
    33. Arnaud Costinot & Andres Rodriguez-Clare & Costas Arkolakis, 2010. "New Trade Models, Same Old Gains?," 2010 Meeting Papers 433, Society for Economic Dynamics.
    34. Bergstrand, Jeffrey H, 1985. "The Gravity Equation in International Trade: Some Microeconomic Foundations and Empirical Evidence," The Review of Economics and Statistics, MIT Press, vol. 67(3), pages 474-81, August.
    35. repec:cup:cbooks:9780521673877 is not listed on IDEAS
    36. Nunn, Nathan & Wantchekon, Leonard, 2011. "The Slave Trade and the Origins of Mistrust in Africa," Scholarly Articles 11986331, Harvard University Department of Economics.
    37. 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.
    38. Mare Sarr & Erwin Bulte & Chris Meissner & Tim Swanson, 2010. "On the Looting of Nations," Working Papers 183, Economic Research Southern Africa.
    39. Lampe, Markus, 2009. "Effects of Bilateralism and the MFN Clause on International Trade: Evidence for the Cobden-Chevalier Network, 1860-1875," The Journal of Economic History, Cambridge University Press, vol. 69(04), pages 1012-1040, December.
    40. Fishlow, Albert, 1985. "Lessons from the past: capital markets during the 19th century and the interwar period," International Organization, Cambridge University Press, vol. 39(03), pages 383-439, June.
    41. Gregory Clark & Kevin H. O'Rourke & Alan M. Taylor, 2008. "Made in America? The New World, the Old, and the Industrial Revolution," American Economic Review, American Economic Association, vol. 98(2), pages 523-28, May.
    42. Paul M. Romer, 1996. "Why, indeed, in America? Theory, History, and the Origins of Modern Economic Growth," NBER Working Papers 5443, National Bureau of Economic Research, Inc.
    43. Antoni Estevadeordal & Brian Frantz & Alan M. Taylor, 2003. "The Rise And Fall Of World Trade, 1870-1939," The Quarterly Journal of Economics, MIT Press, vol. 118(2), pages 359-407, May.
    44. Keay, Ian, 2007. "The Engine or the Caboose? Resource Industries and Twentieth-Century Canadian Economic Performance," The Journal of Economic History, Cambridge University Press, vol. 67(01), pages 1-32, March.
    45. Kevin H. O'Rourke & Jeffrey G. Williamson, 1995. "Around the European Periphery 1870-1913: Globalization, Schooling and Growth," NBER Working Papers 5392, National Bureau of Economic Research, Inc.
    46. Jan De Vries, 2010. "The limits of globalization in the early modern world," Economic History Review, Economic History Society, vol. 63(3), pages 710-733, 08.
    47. Kevin H. O'Rourke & Jeffrey G. Williamson, 2000. "When Did Globalization Begin?," NBER Working Papers 7632, National Bureau of Economic Research, Inc.
    48. Ferguson, Niall & Schularick, Moritz, 2006. "The Empire Effect: The Determinants of Country Risk in the First Age of Globalization, 1880 1913," The Journal of Economic History, Cambridge University Press, vol. 66(02), pages 283-312, June.
    49. Jonathan Eaton & Samuel Kortum, 2001. "Technology, Trade, and Growth: A Unified Fremework," Boston University - Department of Economics - The Institute for Economic Development Working Papers Series dp-110, Boston University - Department of Economics.
    50. Hersh, Jonathan & Voth, Hans-Joachim, 2009. "Sweet Diversity: Colonial Goods and the Rise of European Living Standards after 1492," CEPR Discussion Papers 7386, C.E.P.R. Discussion Papers.
    51. Lew, Byron & Cater, Bruce, 2006. "The telegraph, co-ordination of tramp shipping, and growth in world trade, 1870 1910," European Review of Economic History, Cambridge University Press, vol. 10(02), pages 147-173, August.
    52. Michael Huberman, 2008. "Ticket to trade: Belgian labour and globalization before 1914 -super-1," Economic History Review, Economic History Society, vol. 61(2), pages 326-359, 05.
    53. repec:cup:cbooks:9780521895026 is not listed on IDEAS
    54. Robert E. Lucas, 2009. "Trade and the Diffusion of the Industrial Revolution," American Economic Journal: Macroeconomics, American Economic Association, vol. 1(1), pages 1-25, January.
    55. Ronald Findlay & Kevin H. O'Rourke, 2002. "Commodity market integration, 1500-2000," Discussion Papers 0102-30, Columbia University, Department of Economics.
    56. repec:cup:cbooks:9780521857116 is not listed on IDEAS
    57. Head, Keith, 1994. "Infant industry protection in the steel rail industry," Journal of International Economics, Elsevier, vol. 37(3-4), pages 141-165, November.
    58. Oded Galor & Andrew Mountford, 2008. "Trading Population for Productivity: Theory and Evidence," Working Papers 2008-2, Brown University, Department of Economics.
    59. Jacks, David S; Meissner, Christopher; Novy, Dennis, 2010. "Trade Booms, Trade Busts and Trade Costs," CAGE Online Working Paper Series 33, Competitive Advantage in the Global Economy (CAGE).
    60. Irwin, Douglas A., 2000. "Did Late-Nineteenth-Century U.S. Tariffs Promote Infant Industries? Evidence from the Tinplate Industry," The Journal of Economic History, Cambridge University Press, vol. 60(02), pages 335-360, June.
    61. James E. Anderson, 2011. "The Gravity Model," Annual Review of Economics, Annual Reviews, vol. 3(1), pages 133-160, 09.
    62. Allen, Robert C., 2001. "The Great Divergence in European Wages and Prices from the Middle Ages to the First World War," Explorations in Economic History, Elsevier, vol. 38(4), pages 411-447, October.
    63. repec:cup:cbooks:9780521868273 is not listed on IDEAS
    64. David, Paul A., 1970. "Learning By Doing and Tariff Protection: A Reconsideration of the Case of the Ante-Bellum United States Cotton Textile Industry," The Journal of Economic History, Cambridge University Press, vol. 30(03), pages 521-601, September.
    65. Williamson, Jeffrey G., 2011. "Trade and Poverty: When the Third World Fell Behind," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262015158, June.
    66. Douglas A. Irwin, 2002. "Interpreting the Tariff-Growth Correlation of the Late Nineteenth Century," NBER Working Papers 8739, National Bureau of Economic Research, Inc.
    67. Wright, Gavin, 1990. "The Origins of American Industrial Success, 1879-1940," American Economic Review, American Economic Association, vol. 80(4), pages 651-68, September.
    68. Coleman, Andrew, 2007. "The pitfalls of estimating transactions costs from price data: Evidence from trans-Atlantic gold-point arbitrage, 1886-1905," Explorations in Economic History, Elsevier, vol. 44(3), pages 387-410, July.
    69. Newbery, David M G & Stiglitz, Joseph E, 1984. "Pareto Inferior Trade," Review of Economic Studies, Wiley Blackwell, vol. 51(1), pages 1-12, January.
    70. repec:cup:cbooks:9780521719254 is not listed on IDEAS
    71. Vamvakidis, Athanasios, 2002. " How Robust Is the Growth-Openness Connection? Historical Evidence," Journal of Economic Growth, Springer, vol. 7(1), pages 57-80, March.
    72. Maxim Pinkovskiy & Xavier Sala-i-Martin, 2009. "Parametric Estimations of the World Distribution of Income," NBER Working Papers 15433, National Bureau of Economic Research, Inc.
    73. Irwin, Douglas A. & Tervio, Marko, 2002. "Does trade raise income?: Evidence from the twentieth century," Journal of International Economics, Elsevier, vol. 58(1), pages 1-18, October.
    74. Drelichman, Mauricio, 2005. "The curse of Moctezuma: American silver and the Dutch disease," Explorations in Economic History, Elsevier, vol. 42(3), pages 349-380, July.
    75. de Vries, Jan, 1994. "The Industrial Revolution and the Industrious Revolution," The Journal of Economic History, Cambridge University Press, vol. 54(02), pages 249-270, June.
    76. Mitchener, Kris James & Weidenmier, Marc, 2005. "Empire, Public Goods, and the Roosevelt Corollary," The Journal of Economic History, Cambridge University Press, vol. 65(03), pages 658-692, September.
    77. Catao, Luis A V, 1998. "Mexico and Export-Led Growth: The Porfirian Period Revisited," Cambridge Journal of Economics, Oxford University Press, vol. 22(1), pages 59-78, January.
    78. Douglas A. Irwin, 2010. "Trade Restrictiveness and Deadweight Losses from US Tariffs," American Economic Journal: Economic Policy, American Economic Association, vol. 2(3), pages 111-33, August.
    79. David H. Romer & Jeffrey A. Frankel, 1999. "Does Trade Cause Growth?," American Economic Review, American Economic Association, vol. 89(3), pages 379-399, June.
    80. Keith Head & John Ries, 2001. "Increasing Returns versus National Product Differentiation as an Explanation for the Pattern of U.S.-Canada Trade," American Economic Review, American Economic Association, vol. 91(4), pages 858-876, September.
    81. James Feyrer, 2009. "Trade and Income -- Exploiting Time Series in Geography," NBER Working Papers 14910, National Bureau of Economic Research, Inc.
    82. Gregory Clark & Robert Feenstra, 2001. "Technology in the Great Divergence," NBER Working Papers 8596, National Bureau of Economic Research, Inc.
    83. Moritz Schularick & Thomas M Steger, 2010. "Financial Integration, Investment, and Economic Growth: Evidence from Two Eras of Financial Globalization," The Review of Economics and Statistics, MIT Press, vol. 92(4), pages 756-768, November.
    84. Daron Acemoglu & Simon Johnson & James A. Robinson, 2001. "The Colonial Origins of Comparative Development: An Empirical Investigation," American Economic Review, American Economic Association, vol. 91(5), pages 1369-1401, December.
    85. Ros S, Joan R., 2003. "Why Isn't the Whole of Spain Industrialized? New Economic Geography and Early Industrialization, 1797 1910," The Journal of Economic History, Cambridge University Press, vol. 63(04), pages 995-1022, December.
    86. Taylor, Alan M. & Williamson, Jeffrey G., 1997. "Convergence in the age of mass migration," European Review of Economic History, Cambridge University Press, vol. 1(01), pages 27-63, April.
    87. David N. Weil & Oded Galor, 2000. "Population, Technology, and Growth: From Malthusian Stagnation to the Demographic Transition and Beyond," American Economic Review, American Economic Association, vol. 90(4), pages 806-828, September.
    88. Marc Flandreau & Mathilde Maurel, 2005. "Monetary Union, Trade Integration, and Business Cycles in 19th Century Europe," Open Economies Review, Springer, vol. 16(2), pages 135-152, April.
    89. Michael A. Clemens & Jeffrey G. Williamson, 2004. "Why did the Tariff--Growth Correlation Change after 1950?," Journal of Economic Growth, Springer, vol. 9(1), pages 5-46, 03.
    90. Patrick O'Brien, 1982. "European Economic Development: The Contribution of the Periphery," Economic History Review, Economic History Society, vol. 35(1), pages 1-18, 02.
    91. Madsen, Jakob B., 2007. "Technology spillover through trade and TFP convergence: 135 years of evidence for the OECD countries," Journal of International Economics, Elsevier, vol. 72(2), pages 464-480, July.
    92. repec:fth:bosecd:110 is not listed on IDEAS
    93. Bordo, Michael D. & Meissner, Christopher M., 2011. "Foreign capital, financial crises and incomes in the first era of globalization," European Review of Economic History, Cambridge University Press, vol. 15(01), pages 61-91, April.
    94. Bairoch, Paul, 1972. "Free trade and European economic development in the 19th century," European Economic Review, Elsevier, vol. 3(3), pages 211-245, November.
    Full references (including those not matched with items on IDEAS)

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:eee:grochp:2-1033. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.