Expanding the Division of Labour: Trade Costs and Supply Chains in the Global Economy

Richard Pomfret and Richard Pomfret
Authors registered in the RePEc Author Service: Richard Pomfret

Australian Economic History Review, 2014, vol. 54, issue 3, 220-241

Abstract: type="main">

In the pre-1914 globalisation reduction in trade costs allowed finer specialisation. The quantitative evidence is strong for some components of trade costs, but less so for aggregate trade costs. In the second globalisation, international supply chains have become an important element of the global economy, and we have better data to examine the links between trade costs and supply chains. After a brief review of the standard account of the evolution of supply chains, the article examines the quantitative evidence; regional value chains (RVCs) are especially strong, but the origins and nature of RVCs differ in Europe, the Americas and Asia. The paper then presents evidence on trade costs, focusing on the years since 1990 when both data and computing facilities became more comprehensive, and analyses the relationship between trade costs and supply chains.

Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1111/aehr.12047 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:ozechr:v:54:y:2014:i:3:p:220-241

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0004-8992

Access Statistics for this article

Australian Economic History Review is currently edited by Stephen L Morgan and Martin Shanahan

More articles in Australian Economic History Review from Economic History Society of Australia and New Zealand Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().