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The CEPII Newsletter       
June 2016        

The French edition is slightly different as it also includes material available in French only  

Europe Monnaie & Finance Trade & Globalization Migrations Economic Policy Emerging Economies Competitivness & Growth Environment & Natural Ressources

The History of Globalization revisited

Using an original and new data set of more than 1.9 million bilateral trade observations for the 1827-2014 period, and so far the most  comprehensive database on world trade, Michel Fouquin and Jules Hugot suggest that the first globalization started at the very begining of the 19th century, that is decades erlier than usually assumed. Then, they show that this first wave has mainly been supported by intra-regional trade, as was the second one, initiated in the 1970s. >>>


Regional trade agreements are not the game-changer they are often supposed to be. Not yet.

Through a comprehensive overview of tariffs and trade worldwide, Jean-Christophe Bureau, Houssein Guimbard and Sébastien Jean pour cold water on the notion that regionalism has shaped trade policies since the turn of the century. While MFN tariffs were cut by one-third between 2001 and 2013, more than half was a result of countries’ own initiatives. Regionalism only cut marginally applied tariff duties worldwide, by 0.3 p.p. on average between 2001 and 2013. However, if ongoing RTA negotiations were concluded, they would change radically this picture.



Bilateral Trade Historical Series: New Dataset 1827-2014

ISSN: 1255-7072
Editorial Director : Christophe Destais
Managing Editor : Dominique Pianelli