Publication: The roots of regional trade in the Americas 1870 to 1950
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2016-07-01
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Abstract
The oft-mentioned failure of the economic integration of South America contrasts with the North American, European and East Asian experiences. While low levels of development, geographical and historical explanations are at the root of our understanding of South America's scarce regional trade integration, due to data limitations such explanations have been little analyzed quantitatively in the long run before the Second World War. We use for the first time a new database on bilateral trade for 11 countries of the region between 1870 and 1950. Our results confirm the conventional view of the existence of a historical handicap of regional trade in the Americas, especially during the commodity boom of the Atlantic globalization prior to the First World War.
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Regional trade, revealed trade preferences, the Americas, 19th and 20th Centuries