TY - JOUR
T1 - When Britain turned inward
T2 - The impact of interwar British protection
AU - De Bromhead, Alan
AU - Fernihough, Alan
AU - Lampe, Markus
AU - O'Rourke, Kevin Hjortshøj
N1 - Funding Information:
This paper was accepted to the AER under the guidance of Penny Goldberg, Coeditor. O'Rourke gratefully acknowledges the financial support of the ERC, under the European Union's Seventh Framework Programme (FP7/2007-2013), ERC grant agreement 249546; the Oxford History Faculty's Sanderson Fund; and the John Fell OUP Research Fund. We also thank the staff of the Bodleian Library for their assistance, as well as Joseph Lane and Alexis Wegerich who very kindly helped us locate data. We are grateful to the following for their advice and support: Treb Allen, Jim Anderson, Scott Baier, Richard Baldwin, Jamie Belich, Andy Bernard, Emily Blanchard, Ana Carreras, John Darwin, Ron Davies, Simon Evenett, James Fenske, Kyoji Fukao, Oliver Grant, Paolo Guimarães, Jan Hesse, Doug Irwin, Beata Javorcik, Morgan Kelly, Ju Kim, Mario Larch, Jim Markusen, Thierry Mayer, Peter Neary, Dennis Novy, Cormac Ó Gráda, Gianmarco Ottaviano, Giovanni Peri, Ferdinand Rauch, Tom Rutherford, Max Schulze, Solomos Solomou, Kevin Tang, Alan Taylor, David Weinstein, Nikolaus Wolf, and two anonymous referees; participants at the third CEPR Economic History Symposium, held in Oslo, the second OWL Economic History Workshop held at the University of Warwick, the workshop on " The Gravity Equation: Perspectives from Economic History and Trade" held at the University of St. Gallen, the third Central Bank of Ireland Economic History Workshop, and the 2017 ERWIT held in Valencia; and seminar participants at Bayreuth, Dartmouth, the Graduate Institute in Geneva, Hohenheim, Humboldt, Mannheim, Oxford, Queens University Belfast, University College Dublin, UC Irvine, and Vienna University of Economics and Business. The usual disclaimer applies.
Publisher Copyright:
© 2019 American Economic Association. All Rights Reserved.
PY - 2019/2
Y1 - 2019/2
N2 - International trade collapsed, and also became much less multilateral, during the 1930s. Previous studies, looking at aggregate trade flows, have argued that trade policies had relatively little to do with either phenomenon. Using a new dataset incorporating highly disaggregated information on the United Kingdom's imports and trade policies, we find that while conventional wisdom is correct regarding the impact of trade policy on the total value of British imports, discriminatory trade policies can explain the majority of Britain's shift toward Imperial imports in the 1930s.
AB - International trade collapsed, and also became much less multilateral, during the 1930s. Previous studies, looking at aggregate trade flows, have argued that trade policies had relatively little to do with either phenomenon. Using a new dataset incorporating highly disaggregated information on the United Kingdom's imports and trade policies, we find that while conventional wisdom is correct regarding the impact of trade policy on the total value of British imports, discriminatory trade policies can explain the majority of Britain's shift toward Imperial imports in the 1930s.
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U2 - 10.1257/aer.20172020
DO - 10.1257/aer.20172020
M3 - Article
AN - SCOPUS:85061365817
SN - 0002-8282
VL - 109
SP - 325
EP - 352
JO - American Economic Review
JF - American Economic Review
IS - 2
ER -