West versus East: Early globalization and thr great divergence

Oeste frente a Este: Globalización temprana y gran divergencia

Rafael Dobado González, Alfredo Garcia-Hiernaux and David Guerrero ()

No 13-08, Documentos de trabajo de la Facultad de Ciencias Económicas y Empresariales from Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales

Abstract: This paper extends our previous work on grain market integration across Europe and the Americas in the eighteenth and nineteenth centuries (Dobado, García-Hiernaux and Guerrero, 2012). By using the same econometric methodology, we now present: 1) a search for statistical evidence in the East of an “Early Globalization” comparable to the one ongoing in the West by mid eighteenth century; 2) a study on the integration of grain markets in China and Japan and its functioning in comparison to Western countries; 3) a discussion of the relevance of our findings for the debate on the Great Divergence. Our main conclusions are: 1) substantial differences in the degree of integration and the functioning of grain markets are observed between East and West; 2) a certain degree of integration may be reached through different combinations of factors (agents, policies, etc.) and with dissimilar effects on long-run economic growth; 3) the absence of an “Early Globalization” in the East reveals the existence of some economic and institutional limitations in this part of the world and contributed to its “Great Divergence” with the West from at least the eighteenth century.

Keywords: Historia económica; Integración de mercados; Globalización; Gran divergencia; Series temporales. (search for similar items in EconPapers)
Pages: 28 pages
Date: 2013-08
New Economics Papers: this item is included in nep-his
Note: Very preliminary draft, please do not quote without the authors’ permission. Rafael Dobado- González acknowledges support from the Ministry of Education of Spain under grant ECO2011-26286. Alfredo García-Hiernaux acknowledges support from Ramón Areces Foundation.
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https://eprints.ucm.es/id/eprint/22528/1/13-08.pdf (application/pdf)

Related works:
Working Paper: West versus East: Early Globalization and the Great Divergence (2013)
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