Essays on International Trade since 1790
2017-02-22T01:25:39Z (GMT) by
The objective of this thesis explored the evolution of world trade over the last two centuries, between 1790-2013. The results highlight three important implications for international trade. First, economic development, transportation costs and commercial polices significantly contribute to the changing patterns in world trade. Second, the dissimilarities in cultural factors such as language and genetic ancestry as well as in political regimes have contributed to higher trade costs over time, thus inhibiting trade integration. Finally, the trade dynamics following episodes of financial instability severely depress international trade long after trade recovery, not only in recent times, but also throughout history.