Four Great Asian Trade Collapses

42 Pages Posted: 14 May 2021

See all articles by Alan de Bromhead

Alan de Bromhead

Queen's University Management School

Alan Fernihough

Queen's University Belfast - Queen's Management School

Markus Lampe

Vienna University of Economics and Business

Kevin Hjortshøj O'Rourke

New York University (NYU) - New York University Abu Dhabi; Centre for Economic Policy Research (CEPR)

Date Written: April 2021

Abstract

This paper introduces a new dataset of commodity-specific, bilateral import data for four large Asian economies in the interwar period: China, the Dutch East Indies, India, and Japan. It uses these data to describe the interwar trade collapses in the economies concerned. These resembled the post-2008 Great Trade Collapse in some respects but not in others: they occurred along the intensive margin, imports of cars were particularly badly affected, and imports of durable goods fell by more than those of non-durables, except in China and India which were rapidly industrializing. On the other hand the import declines were geographically imbalanced, while prices were more important than quantities in driving the overall collapse.

JEL Classification: F14, N75

Suggested Citation

de Bromhead, Alan and Fernihough, Alan and Lampe, Markus and O'Rourke, Kevin Hjortshøj, Four Great Asian Trade Collapses (April 2021). Available at SSRN: https://ssrn.com/abstract=3846099

Alan De Bromhead (Contact Author)

Queen's University Management School ( email )

25 University Square
Belfast, Northern Ireland BT7 1NN
Northern Ireland

Alan Fernihough

Queen's University Belfast - Queen's Management School ( email )

Riddel Hall
185 Stranmillis Road
Belfast, BT9 5EE
United Kingdom

Markus Lampe

Vienna University of Economics and Business ( email )

Welthandelsplatz 1
Vienna, Wien 1020
Austria

Kevin Hjortshøj O'Rourke

New York University (NYU) - New York University Abu Dhabi ( email )

PO Box 129188
Abu Dhabi
United Arab Emirates

Centre for Economic Policy Research (CEPR)

London
United Kingdom

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