Pushing Wheat: Why Supply Mattered for the American Grain Invasion of Britain in the Nineteenth Century
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Pushing Wheat : Why Supply Mattered for the American Grain Invasion of Britain in the Nineteenth Century. / Sharp, Paul Richard.
Department of Economics, University of Copenhagen, 2008.Research output: Working paper › Research
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TY - UNPB
T1 - Pushing Wheat
T2 - Why Supply Mattered for the American Grain Invasion of Britain in the Nineteenth Century
AU - Sharp, Paul Richard
N1 - JEL Classifications: C5, F1, N7
PY - 2008
Y1 - 2008
N2 - This paper documents the evolution of variables central to understanding the creation of an Atlantic Economy in wheat between the US and the UK in the nineteenth century. The cointegrated VAR model is then applied to the period 1838-1913 in order to find long-run relationships between these variables. The main result is that explanations for the expansion of trade based on falling barriers to trade need to be augmented by another factor: the expansion of US supply. This implies that the growth of the Atlantic Economy cannot wholly be attributed to the decline in transportation costs, as is usually considered to be the case
AB - This paper documents the evolution of variables central to understanding the creation of an Atlantic Economy in wheat between the US and the UK in the nineteenth century. The cointegrated VAR model is then applied to the period 1838-1913 in order to find long-run relationships between these variables. The main result is that explanations for the expansion of trade based on falling barriers to trade need to be augmented by another factor: the expansion of US supply. This implies that the growth of the Atlantic Economy cannot wholly be attributed to the decline in transportation costs, as is usually considered to be the case
KW - Faculty of Social Sciences
KW - grain invasion
KW - globalization
M3 - Working paper
BT - Pushing Wheat
PB - Department of Economics, University of Copenhagen
ER -
ID: 3232209