EconPapers    
Economics at your fingertips  
 

American Growth and Napoleonic Wars

Hasan Vergil () and M. Erdem Ozgur ()
Additional contact information
Hasan Vergil: Department of Economics, Bülent Ecevit University, Turkey
M. Erdem Ozgur: Department of Economics, Dokuz Eylül University, Turkey

Panoeconomicus, 2013, vol. 60, issue 5, 649-666

Abstract: Four years after the French Revolution, in 1793 a series of wars among France and other major powers of Europe began and they lasted until 1815. There is disagreement among economic historians about the effects of these wars on the trend of US economic growth. This paper aims to answer the following question. Did America as a neutral nation take advantage of economic possibilities caused by Europe at war through trade? To put it differently, this paper questions whether there was an export-led growth due to the war. To answer this question, we re-examined the export-led growth hypothesis for the period 1790-1860 using the ARDL methodology. Based on this methodology, a cointegrated relationship is found among the variables of real GDP, labor, exports and exchange rates. The results suggest that the economic growth of the US was not export-driven. In addition, parallel to the results of unit root tests with structural breaks, the coefficient of the dummy variable was statistically significant in the long run, implying that the war did have a significant effect on the economic growth trend of the US.

Keywords: Napoleonic wars; United States trade growth; ARDL methodology (search for similar items in EconPapers)
JEL-codes: N11 N41 N71 (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations Track citations by RSS feed

Downloads: (external link)
http://www.panoeconomicus.rs/casopis/2013_5/05%20H ... %20Erdem%20Ozgur.pdf (application/pdf)

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:voj:journl:v:60:y:2013:i:5:p:649-666

Access Statistics for this article

Panoeconomicus is currently edited by Kosta Josifidis

More articles in Panoeconomicus from Savez ekonomista Vojvodine, Novi Sad, Serbia
Series data maintained by Ivana Horvat (). This e-mail address is bad, please contact .

 
Page updated 2017-09-29
Handle: RePEc:voj:journl:v:60:y:2013:i:5:p:649-666