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From Empire to Europe: Britain in the World Economy

  • Kevin Hjortshøj O'Rourke

This chapter provides a brief introduction to the history of Britain’s engagement with the international economy between 1870 and 2010. It begins by discussing long run trends in the integration of the British economy with the rest of the world over time. Economic historians are typically interested in four types of flows between economies: trade in goods and services; flows of capital; migration flows; and flows of ideas and technology. The last flow is probably the most important one for countries hoping to catch up to the international technological frontier. While this was not the right way to characterise the British economy in 1870, it probably was at various points after World War II. Unfortunately, such flows are also the most difficult to quantify, and so I follow the bulk of the literature in concentrating on trade, capital flows and migration.�

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Paper provided by University of Oxford, Department of Economics in its series Economics Series Working Papers with number Number 106.

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Date of creation: 03 Oct 2012
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Handle: RePEc:oxf:wpaper:number-106
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  1. Cameron, Gavin & Proudman, James & Redding, Stephen, 2005. "Technological convergence, R&D, trade and productivity growth," European Economic Review, Elsevier, vol. 49(3), pages 775-807, April.
  2. Maurice Obstfeld & Alan M. Taylor, 2003. "Sovereign risk, credibility and the gold standard: 1870-1913 versus 1925-31," Economic Journal, Royal Economic Society, vol. 113(487), pages 241-275, 04.
  3. Richard A. Easterlin, 1968. "Population, Labor Force, and Long Swings in Economic Growth: The American Experience," NBER Books, National Bureau of Economic Research, Inc, number east68-1, March.
  4. William Hynes & David S. Jacks & Kevin H. O'rourke, 2012. "Commodity market disintegration in the interwar period," European Review of Economic History, Oxford University Press, vol. 16(2), pages 119-143, May.
  5. Obstfeld,Maurice & Taylor,Alan M., 2004. "Global Capital Markets," Cambridge Books, Cambridge University Press, number 9780521633178, 1.
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  8. Giovanni Federico & Karl Gunnar Persson, . "Market Integration and Convergence in the World Wheat Market, 1800-2000," Discussion Papers 06-10, University of Copenhagen. Department of Economics.
  9. Hatton, Timothy J., 2003. "Emigration from the UK, 1870-1913 and 1950-1998," IZA Discussion Papers 830, Institute for the Study of Labor (IZA).
  10. Alexander Hijzen & Holger Görg & Robert C. Hine, 2005. "International Outsourcing and the Skill Structure of Labour Demand in the United Kingdom," Economic Journal, Royal Economic Society, vol. 115(506), pages 860-878, October.
  11. Philippe Aghion & Richard Blundell & Rachel Griffith & Peter Howitt & Susanne Prantl, 2004. "Entry and Productivity Growth: Evidence from Microlevel Panel Data," Journal of the European Economic Association, MIT Press, vol. 2(2-3), pages 265-276, 04/05.
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  14. David S. Jacks & Christopher M. Meissner & Dennis Novy, 2009. "Trade Booms, Trade Busts, and Trade Costs," CESifo Working Paper Series 2767, CESifo Group Munich.
  15. Gregory Clark, Kevin H. O'Rourke and Alan M. Taylor, 2008. "Made in America? The New World, the Old, and the Industrial Revolution," The Institute for International Integration Studies Discussion Paper Series iiisdp251, IIIS.
  16. James Foreman-Peck, 1981. "The British Tariff and Industrial Protection in the 1930s: An A Iternative Model," Economic History Review, Economic History Society, vol. 34(1), pages 132-139, 02.
  17. 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.
  18. Ronald Findlay & Kevin H. O'Rourke, 2007. "Preface to Power and Plenty: Trade, War, and the World Economy in the Second Millennium
    [Power and Plenty: Trade, War, and the World Economy in the Second Millennium]
    ," Introductory Chapters, Princeton University Press.
  19. Barry Eichengreen & Douglas A. Irwin, 2009. "The Slide to Protectionism in the Great Depression: Who Succumbed and Why?," NBER Working Papers 15142, National Bureau of Economic Research, Inc.
  20. Kitson,Michael & Solomou,Solomos, 1990. "Protectionism and Economic Revival," Cambridge Books, Cambridge University Press, number 9780521382670, 1.
  21. Sibylle H. Lehmann & Kevin H. O'Rourke, 2011. "The Structure of Protection and Growth in the Late Nineteenth Century," The Review of Economics and Statistics, MIT Press, vol. 93(2), pages 606-616, May.
  22. Forrest Capie, 1991. "Effective protection and economic recovery in Britain, 1932-1937," Economic History Review, Economic History Society, vol. 44(2), pages 339-342, 05.
  23. Ronald Findlay & Kevin H. O'Rourke, 2007. "Introduction to Power and Plenty: Trade, War, and the World Economy in the Second Millennium
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  28. Jacks, David S., 2005. "Intra- and international commodity market integration in the Atlantic economy, 1800-1913," Explorations in Economic History, Elsevier, vol. 42(3), pages 381-413, July.
  29. Kevin H. O'Rourke & Jeffrey G. Williamson, 2001. "Globalization and History: The Evolution of a Nineteenth-Century Atlantic Economy," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262650592, June.
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  32. O'Rourke, Kevin & Williamson, Jeffrey G., 1994. "Late Nineteenth-Century Anglo-American Factor-Price Convergence: Were Heckscher and Ohlin Right?," The Journal of Economic History, Cambridge University Press, vol. 54(04), pages 892-916, December.
  33. Offer, Avner, 1991. "The First World War: An Agrarian Interpretation," OUP Catalogue, Oxford University Press, number 9780198202790, July.
  34. O'Rourke, Kevin, 1991. "Burn Everything British but their Coal: the Anglo-Irish Economic War of the 1930s," The Journal of Economic History, Cambridge University Press, vol. 51(02), pages 357-366, June.
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  37. Eichengreen, Barry J., 1981. "A dynamic model of tariffs, output and employment under flexible exchange rates," Journal of International Economics, Elsevier, vol. 11(3), pages 341-359, August.
  38. Timothy J. Hatton & Jeffrey G. Williamson, 2008. "Global Migration and the World Economy: Two Centuries of Policy and Performance," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262582775, June.
  39. Michael Kitson & Solomos Solomou & Martin Weale, 1991. "Effective protection and economic recovery in the United Kingdom during the 1930s," Economic History Review, Economic History Society, vol. 44(2), pages 328-338, 05.
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