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West versus East: Early globalization and thr great divergence
[Oeste frente a Este: Globalización temprana y gran divergencia]

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Abstract

This paper extends our previous work on grain market integration across Europe and the Americas in the eighteenth and nineteenth centuries (Dobado, García-Hiernaux and Guerrero, 2012). By using the same econometric methodology, we now present: 1) a search for statistical evidence in the East of an “Early Globalization” comparable to the one ongoing in the West by mid eighteenth century; 2) a study on the integration of grain markets in China and Japan and its functioning in comparison to Western countries; 3) a discussion of the relevance of our findings for the debate on the Great Divergence. Our main conclusions are: 1) substantial differences in the degree of integration and the functioning of grain markets are observed between East and West; 2) a certain degree of integration may be reached through different combinations of factors (agents, policies, etc.) and with dissimilar effects on long-run economic growth; 3) the absence of an “Early Globalization” in the East reveals the existence of some economic and institutional limitations in this part of the world and contributed to its “Great Divergence” with the West from at least the eighteenth century.

Suggested Citation

  • Rafael Dobado González & Alfredo García Hiernaux & David Guerrero Burbano, 2013. "West versus East: Early globalization and thr great divergence [Oeste frente a Este: Globalización temprana y gran divergencia]," Documentos de trabajo de la Facultad de Ciencias Económicas y Empresariales 13-08, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales.
  • Handle: RePEc:ucm:doctra:13-08
    Note: Very preliminary draft, please do not quote without the authors’ permission. Rafael Dobado- González acknowledges support from the Ministry of Education of Spain under grant ECO2011-26286. Alfredo García-Hiernaux acknowledges support from Ramón Areces Foundation.
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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. When did Globalization Actually Start?
      by bbatiz in NEP-HIS blog on 2014-04-21 23:13:04

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    2. García-Hiernaux, Alfredo & Guerrero, David E. & McAleer, Michael, 2016. "Market integration dynamics and asymptotic price convergence in distribution," Economic Modelling, Elsevier, vol. 52(PB), pages 913-925.
    3. Dobado-González, Rafael, 2013. "La globalización hispana del comercio y el arte en la Edad Moderna [The hispanic globalization of commerce and art in the early modern era]," MPRA Paper 51112, University Library of Munich, Germany.

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    JEL classification:

    • N0 - Economic History - - General

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