Book contents
- The Cambridge Economic History of the Modern World
- The Cambridge Economic Historyof the Modern World
- The Cambridge Economic History of the Modern World
- Copyright page
- Contents
- Figures
- Tables
- Contributors to Volume II
- Introduction to Volume II
- Part I Regional Developments
- Part II Factors Governing Differential Outcomes in the Global Economy
- 12 Healthy, Literate, and Smart
- 13 Proximate Sources of Growth
- 14 Underlying Sources of Growth
- 15 Underlying Sources of Growth
- 16 Living Standards, Inequality, and Human Development
- 17 Trade and Immigration
- 18 International Finance
- 19 War and Empire
- Index
- References
17 - Trade and Immigration
from Part II - Factors Governing Differential Outcomes in the Global Economy
Published online by Cambridge University Press: 03 June 2021
Book contents
- The Cambridge Economic History of the Modern World
- The Cambridge Economic Historyof the Modern World
- The Cambridge Economic History of the Modern World
- Copyright page
- Contents
- Figures
- Tables
- Contributors to Volume II
- Introduction to Volume II
- Part I Regional Developments
- Part II Factors Governing Differential Outcomes in the Global Economy
- 12 Healthy, Literate, and Smart
- 13 Proximate Sources of Growth
- 14 Underlying Sources of Growth
- 15 Underlying Sources of Growth
- 16 Living Standards, Inequality, and Human Development
- 17 Trade and Immigration
- 18 International Finance
- 19 War and Empire
- Index
- References
Summary
In this chapter, we describe long-run trends in global merchandise trade and immigration from 1870 to 2010. We revisit the reasons why these two forces moved largely in parallel in the decades leading up to World War I, collapsed during the interwar period, and then rebounded (but with much more pronounced growth in trade than in immigration). More substantively, we also document a large redistribution in the regional sources of goods and people, with a shift from the former industrialized core countries – especially Europe – to those in the former periphery – especially Asia – as well as a very striking change in the composition of merchandise trade towards manufactured goods precisely dating from 1950. Finally, using a triple differences framework in combination with a dramatic change in US immigration policy, we find evidence that immigration and trade potentially acted as substitutes, at least for the United States in the interwar period.
- Type
- Chapter
- Information
- The Cambridge Economic History of the Modern World , pp. 471 - 500Publisher: Cambridge University PressPrint publication year: 2021
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