After Columbus

Explaining Europe's overseas trade boom, 1500-1800

Kevin O'Rourke, Jeffrey G. Williamson

Research output: Contribution to journalArticle

Abstract

This study documents the boom in Europe's imports from Asia and the Americas between 1500 and 1800 and explores its causes. There was no commodity-price convergence between continents, suggesting that declining trade barriers were not the cause of the boom. Thus, it must have been caused by some combination of European import demand and foreign export supply. The behavior of the relative price of foreign importables in European cities should tell us which mattered most and when: we provide the evidence and offer a model which is used to decompose the sources of Europe's overseas trade boom.

Original languageEnglish (US)
Pages (from-to)417-456
Number of pages40
JournalJournal of Economic History
Volume62
Issue number2
StatePublished - Jul 30 2002

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Boom
Import
Causes
Price convergence
Asia
Relative prices
Trade barriers
Export supply
Commodity prices
Import demand
Commodities

ASJC Scopus subject areas

  • History
  • Economics and Econometrics
  • Economics, Econometrics and Finance (miscellaneous)

Cite this

O'Rourke, K., & Williamson, J. G. (2002). After Columbus: Explaining Europe's overseas trade boom, 1500-1800. Journal of Economic History, 62(2), 417-456.

After Columbus : Explaining Europe's overseas trade boom, 1500-1800. / O'Rourke, Kevin; Williamson, Jeffrey G.

In: Journal of Economic History, Vol. 62, No. 2, 30.07.2002, p. 417-456.

Research output: Contribution to journalArticle

O'Rourke, K & Williamson, JG 2002, 'After Columbus: Explaining Europe's overseas trade boom, 1500-1800', Journal of Economic History, vol. 62, no. 2, pp. 417-456.
O'Rourke, Kevin ; Williamson, Jeffrey G. / After Columbus : Explaining Europe's overseas trade boom, 1500-1800. In: Journal of Economic History. 2002 ; Vol. 62, No. 2. pp. 417-456.
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