Asian globalisations: market integration, trade and economic growth, 1800-1938
David Chilosi () and
Giovanni Federico ()
Economic History Working Papers from London School of Economics and Political Science, Department of Economic History
This paper contributes to the debate on globalization and the great divergence with a comprehensive analysis of trends, causes and effects of the integration of Asia in the world market from 1800 to the eve of World War Two, based on a newly compiled data-set. The analysis finds that: most price convergence occurred before 1870, with only little disintegration in the inter-war years; market integration was determined to a large extent by the fall of Western trading monopolies; it implied significant static welfare gains and emerges as a major cause of substantial improvements in the terms of trade.
JEL-codes: F1 N7 O4 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-his, nep-int and nep-sea
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