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The peripheral protectionist backlash in the First Globalization: Spain (1870-1913)*

Published online by Cambridge University Press:  10 March 2011

Marcela Sabaté
Affiliation:
Departamento de Economía Aplicada, Facultad de Ciencias Económicas, Universidad de Zaragoza, GranVía 2, 50005 Zaragoza(Espáña). msabate@unizar.es, cfillat@unizar.es, abgracia@unizar.es
Carmen Fillat
Affiliation:
Departamento de Economía Aplicada, Facultad de Ciencias Económicas, Universidad de Zaragoza, GranVía 2, 50005 Zaragoza(Espáña). msabate@unizar.es, cfillat@unizar.es, abgracia@unizar.es
Ana Belén Gracia
Affiliation:
Departamento de Economía Aplicada, Facultad de Ciencias Económicas, Universidad de Zaragoza, GranVía 2, 50005 Zaragoza(Espáña). msabate@unizar.es, cfillat@unizar.es, abgracia@unizar.es
Corresponding

Abstract

This paper studies the role played by different trade barriers (transport costs, customs and currency) in the evolution of Spanish imports during the First Globalization (1870-1913). Through the estimation of several gravity equations with panel data analysis, we obtain the elasticities of imports to each barrier, which allows us to combine them into a single ad valorem measure of barriers to trade (which we call the trade costs tariff equivalent). More interestingly, the contribution of the barriers to the profile of the tariff equivalent, as well as the assignment of an active role to the peseta exchange rate as a barrier, illustrates the existence of a protectionist backlash against the sustained decline in transport costs in the period 1870-1913.

Resumen

En este artículo se analiza la influencia de diferentes barreras al comercio (costes de transporte, aranceles y tipo de cambio) sobre la evolución de las importaciones españolas durante la Primera Globalización (1870-1913). En primer lugar, partiendo de la ecuación de gravedad, se obtiene la elasticidad importación a cada barrera. En segundo lugar, haciendo uso de esas elasticidades, las distintas barreras se combinan en una medida ad valorem sintética (una tarifa equivalente) de obstáculos al comercio. La contribución de cada barrera a esta tarifa equivalente permite ilustrar el papel jugado por la cotización de la peseta, además de localizar en 1890-1891 la reacción proteccionista española a la sostenida caída internacional de los costes de transporte en el último tercio del siglo XIX.

Type
Articles/Artículos
Copyright
Copyright © Instituto Figuerola de Historia y Ciencias Sociales, Universidad Carlos III de Madrid 2011

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