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1 juillet 2016
- handle: 10670/1.w5eeao
- hal: hal-03602941
- SCIENCESPO: 2441/5illks3d909msotf5fe5i4mk5m
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Mots-clés
Trade costs Globalization Gravity model Aggregation Structure effect F - International Economics/F.F1 - Trade/F.F1.F14 - Empirical Studies of Trade N - Economic History/N.N7 - Transport, Trade, Energy, Technology, and Other Services/N.N7.N70 - General, International, or ComparativeSujets proches
Trade Commercial trade Foreign trade Trade TradeCiter ce document
Guillaume Corlay et al., « Comment: Inferring Trade Costs from Trade Booms and Trade Busts », Archive ouverte de Sciences Po (SPIRE), ID : 10670/1.w5eeao
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Résumé
Jacks et al. (2011) offer an alternative to price gaps to quantify trade costs. Implementing a methodwhich consists in deducing international trade costs from trade flows, they argue that the reduction intrade costs was the main driving force of trade growth during the first globalization (1870-1913), whereaseconomic expansion was the main driving force during the second globalization (1950-2000). We arguethat this important result is driven by the use of an ad hoc aggregation method. What Jacks et al. (2011)capture is the difference in the relative starting trade of dyads experiencing faster trade growth in thefirst and second globalization. More generally, we cast doubts on the possibility to reach conclusions ofsuch nature with a method that infers trade costs from trade flows, and then uses these costs to explaintrade flows. We argue that it can only rephrase the information already contained in openess ratios.