Title: 'The Wind of Change: Maritime Technology, Trade and Economic Development'. Abstract: to be announced.
The 1870-1913 period marked the birth of the
first era of trade
globalization. How did this tremendous increase in trade affect economic
development? This work isolates a causality channel by exploiting the fact that
the steamship produced an asymmetric change in trade distances among countries.
Before the invention of the steamship, trade routes depended on wind patterns.
The introduction of the steamship in the shipping industry reduced shipping costs and time in a disproportionate manner across countries and trade routes. Using this source of variation and a completely novel set of data on shipping times, trade, and development that spans the great majority of the world between 1850 and 1900, I nd that 1) the adoption of the steamship was the major reason for the rst wave of trade globalization, 2) only a small number of countries that were characterized by more inclusive institutions bene ted from globalization, and 3) globalization exerted a negative effect on both urbanization rates and economic development in most other countries.
The ACLE Seminars are held once a month on Monday afternoons from 12:00 - 13:15 at the Amsterdam Business School (University of Amsterdam).
This series focuses primarily on subjects related to economics.
11:45 - 12:00: doors open and lunch;
12:00 - 13:15: seminar.
Please note that the seminar room is subject to change every month. The room will be specified in the link below.