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Asian globalisations: market integration, trade and economic growth, 1800-1938

  • David Chilosi
  • Giovanni Federico

This paper contributes to the debate on globalization and the great divergence with a comprehensive analysis of trends, causes and effects of the integration of Asia in the world market from 1800 to the eve of World War Two, based on a newly compiled data-set. The analysis finds that: most price convergence occurred before 1870, with only little disintegration in the inter-war years; market integration was determined to a large extent by the fall of Western trading monopolies; it implied significant static welfare gains and emerges as a major cause of substantial improvements in the terms of trade.

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File URL: http://eprints.lse.ac.uk/54574/
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Paper provided by London School of Economics and Political Science, Department of Economic History in its series Economic History Working Papers with number 54574.

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Length: 85 pages
Date of creation: Nov 2013
Date of revision:
Handle: RePEc:ehl:wpaper:54574
Contact details of provider: Postal: LSE, Dept. of Economic History Houghton Street London, WC2A 2AE, U.K.
Phone: +44 (0) 20 7955 7084
Web page: http://www.lse.ac.uk/economicHistory/

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