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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

Abstract: 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
Date: 2013-11
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Persistent link: https://EconPapers.repec.org/RePEc:ehl:wpaper:54574

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