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Power politics and the expansion of U.S. exports, 1879-1938

Author

Listed:
  • Tena Junguito, Antonio
  • Restrepo Estrada, María Isabel

Abstract

In this paper we present for the first-time quantitative evidence of the effect of U.S. power policy on the expansion of its export market from the late-19th century to the eve of World War II. U.S. imperial policies were expressed through annexation, dominion, and gunboat policies, as did other empires, and exports to these markets grew more than three times faster than the rest of the territories. Our most relevant contribution to the discussion that power plays a critical role in international trade is based on a new geographically extensive database with information on bilateral trade flows, market size, trade costs and variables that capture U.S. political and military power. We first estimate a gravity equation to see the relationship between our political variables and U.S exports and then we present causal evidence of the role of the colonies and protectorates in the expansion of U.S exports through an event study and the estimation of a generalized difference-in-differences model.

Suggested Citation

  • Tena Junguito, Antonio & Restrepo Estrada, María Isabel, 2022. "Power politics and the expansion of U.S. exports, 1879-1938," IFCS - Working Papers in Economic History.WH 34225, Universidad Carlos III de Madrid. Instituto Figuerola.
    • Handle: RePEc:cte:whrepe:34225
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    References listed on IDEAS

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    1. Bulmer-Thomas,Victor, 2012. "The Economic History of the Caribbean since the Napoleonic Wars," Cambridge Books, Cambridge University Press, number 9780521145602, October.
    2. Alejandro Ayuso‐Díaz & Antonio Tena‐Junguito, 2020. "Trade in the shadow of power: Japanese industrial exports in the interwar years," Economic History Review, Economic History Society, vol. 73(3), pages 815-843, August.
    3. Bulmer-Thomas,Victor, 2012. "The Economic History of the Caribbean since the Napoleonic Wars," Cambridge Books, Cambridge University Press, number 9780521198899, January.
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    More about this item

    Keywords

    Power politics and Us exports;

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F54 - International Economics - - International Relations, National Security, and International Political Economy - - - Colonialism; Imperialism; Postcolonialism
    • N40 - Economic History - - Government, War, Law, International Relations, and Regulation - - - General, International, or Comparative
    • N70 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - General, International, or Comparative

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