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Globalization and Empire: Market integration and international trade between Canada, the United States and Britain, 1750-1870

Author

Listed:
  • Pedersen, Maja Uhre

    (University of Southern Denmark)

  • Geloso, Vincent

    (King’s University College)

  • Sharp, Paul

    (University of Southern Denmark)

Abstract

Previous work has demonstrated the potential for wheat market integration between the US and the UK before the ‘first era of globalization’ in the second half of the nineteenth century. It was however frequently interrupted by policy and ‘exogenous’ events such as war. This paper adds Canada to this story by looking at trade and price data, as well as contemporary debates. We find that she faced similar barriers to the US, and that membership of the British Empire was therefore not a great benefit. We also describe the limitations she faced accessing the US market, in particular after American independence. Transportation costs do not appear to be the main barrier to the emergence of a globalized economy before around 1850.

Suggested Citation

  • Pedersen, Maja Uhre & Geloso, Vincent & Sharp, Paul, 2020. "Globalization and Empire: Market integration and international trade between Canada, the United States and Britain, 1750-1870," CAGE Online Working Paper Series 531, Competitive Advantage in the Global Economy (CAGE).
  • Handle: RePEc:cge:wacage:531
    as

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    References listed on IDEAS

    as
    1. Gregory Clark, 2005. "The Condition of the Working Class in England, 1209-2004," Journal of Political Economy, University of Chicago Press, vol. 113(6), pages 1307-1340, December.
    2. Vincent Geloso, 2019. "A price index for Canada, 1688 to 1850," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 52(2), pages 526-560, May.
    3. Yoram Barzel, 2005. "Replacing the Law of One Price with the Price Convergence Law," Working Papers UWEC-2005-10, University of Washington, Department of Economics, revised Mar 2005.
    4. John Baffes, 1991. "Some Further Evidence on the Law of One Price: The Law of One Price Still Holds," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 73(4), pages 1264-1273.
    5. Paquet, Gilles & Wallot, Jean-Pierre, 1983. "Le système financier bas-canadien au tournant du XIXe siècle," L'Actualité Economique, Société Canadienne de Science Economique, vol. 59(3), pages 456-513, septembre.
    6. Gregory Clark, 2005. "The Condition of the Working Class in England, 1209-2004," Journal of Political Economy, University of Chicago Press, vol. 113(6), pages 1307-1340, December.
    7. Jeremy Land & Vincent Geloso, 2020. "Colonial Military Garrisons as Labor‐Market Shocks: Quebec City and Boston, 1760–1775," Social Science Quarterly, Southwestern Social Science Association, vol. 101(4), pages 1326-1344, July.
    8. Paul Sharp, 2006. "1846 and All That: The Rise and Fall of British Wheat Protection in the Nineteenth Century," Discussion Papers 06-14, University of Copenhagen. Department of Economics.
    9. Vincent Geloso, 2019. "Measuring Away the Importance of Institutions: The Case of Seigneurial Tenure and Agricultural Output in Canada East, 1851," Social Science Quarterly, Southwestern Social Science Association, vol. 100(3), pages 897-910, May.
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    More about this item

    Keywords

    British Empire; Canada; globalization; market integration; United Kingdom; United States; wheat JEL Classification: N51; N53; N71; N73;
    All these keywords.

    JEL classification:

    • N51 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - U.S.; Canada: Pre-1913
    • N53 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - Europe: Pre-1913
    • N71 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - U.S.; Canada: Pre-1913
    • N73 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - Europe: Pre-1913

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