Commodity market disintegration in the interwar period

William Hynes, David Jacks and Kevin O'Rourke

European Review of Economic History, 2012, vol. 16, issue 2, 119-143

Abstract: In this paper, we document the disintegration of international commodity markets between 1913 and 1938. There was dramatic disintegration during World War I, gradual reintegration during the 1920s, and then a substantial disintegration after 1929. The period saw the unravelling of many of the integration gains of 1870-1913. While increased transport costs help explain the wartime disintegration, they cannot explain the post-1929 increase in trade costs. The proliferation of tariff and non-tariff barriers to trade, the collapse of the interwar gold standard, and the evaporation of commercial credit loom large as suspects. Copyright , Oxford University Press.

Date: 2012
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Related works:
Working Paper: Commodity Market Disintegration in the Interwar Period (2009)
Working Paper: Commodity Market Disintegration in the Interwar Period (2009)
Working Paper: Commodity Market Disintegration in the Interwar Period (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:oup:ereveh:v:16:y:2012:i:2:p:119-143

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