2017
DOI: 10.1007/s10290-017-0279-z
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A tale of two globalizations: gains from trade and openness 1800–2010

Abstract: This paper compares the wave of globalization before the outbreak of the Great Recession in 2007 with its alleged historical antecedent before the outbreak of World War One. We describe trends in trade and openness, estimate the gains from trade and investigate the proximate causes of the growth of openness. We argue that the conventional wisdom has to be revised. The first wave of globalization started around 1820 and culminated around 1870. In the next century, trade continued to grow, with the exception of … Show more

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Cited by 59 publications
(39 citation statements)
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“…Sanctions only began to be lifted in the early 1990s (Evenett 2002). This period relates to the start of an exponential increase in global trade (Federico and Tena-Junguito 2017), and commensurate invasions (Seebens et al 2017). It is possible that as trade from South Africa during this time was reduced, the contribution of animal species did not reach its potential levels.…”
Section: Resultsmentioning
confidence: 99%
“…Sanctions only began to be lifted in the early 1990s (Evenett 2002). This period relates to the start of an exponential increase in global trade (Federico and Tena-Junguito 2017), and commensurate invasions (Seebens et al 2017). It is possible that as trade from South Africa during this time was reduced, the contribution of animal species did not reach its potential levels.…”
Section: Resultsmentioning
confidence: 99%
“…To take stochastic trends in the data into account, we use the VAR in the error correction representation and test for cointegration between openness and productivity. Similar bivariate approaches have been employed, for example, by Federico et al ( 2017 ) to analyze the link between openness and economic growth and Gunes and Kose ( 2013 ) for the link between openness and productivity. Related error correction analysis include additional variables (Malhotra and Kumari 2016 ; Siliverstovs and Herzer 2006 ).…”
Section: The Link Between International Trade and Productivitymentioning
confidence: 98%
“…Global trade volume and openness to trade have long been the most straightforward indicators of globalization. One reason for this is the availability of rich data in terms of number of countries and time span, allowing researchers to describe the evolution of globalization since the 19 th century (Federico & Tena-Junguito, 2017). Nevertheless, these indicators do not allow for drawing conclusions regarding the structure and causes of the development of (trade) globalization.…”
Section: (Trade) Globalization Measuresmentioning
confidence: 99%