Federico, Giovanni, Tena-Junguito, Antonio, (2016), “World trade, 1800-2015”, Voxeu, 7 February
Parallels are often drawn between the Great Recession of the past decade and the economic turmoil of the interwar period. In terms of global trade, these comparisons are based on obsolete and incomplete data. This column re-estimates world trade since the beginning of the 19th century using a new database. The effect of the Great Recession on trade growth is sizeable but fairly small compared with the joint effect of the two world wars and the Great Depression. However, the effects will become more and more comparable if the current trade stagnation continues.
Relevant Posts
- Münch, Richard, (2015), ” The Global Division of Labour-Development and Inequality in World Society”, International Political Economy Series, Palgrave-Macmillan publications, November
- Cohen Setton, Jeremie, (2015), “The global trade slowdown puzzle”, Bruegel publications, 31 August