Quotation de Bromhead, Alan, Fernihough, Alan, Lampe, Markus, O´Rourke, Kevin Hjortshøj. 2019. The anatomy of a trade collapse: the UK, 1929–1933. European Review of Economic History. 23 (2), 123-144.




A recent literature explores the nature and causes of the 2008–2009 collapse in international trade. The decline was particularly great for automobiles and industrial supplies; it occurred largely along the intensive margin; quantities fell by more than prices; and prices fell less for differentiated products. Do these “stylized facts” hold for all trade collapses? This paper uses detailed, commodity-specific information on UK imports between 1929 and 1933 to compare the Great Depression and the Great Recession. It also compares the free trading collapse of 1929–1931 with the protectionist collapse of 1931–1933, to examine the relative importance of protection for the UK trade patterns.


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Publication's profile

Status of publication Published
Affiliation WU
Type of publication Journal article
Journal European Review of Economic History
Citation Index SSCI
WU-Journal-Rating new VW-D, WH-B
Language English
Title The anatomy of a trade collapse: the UK, 1929–1933
Volume 23
Number 2
Year 2019
Page from 123
Page to 144
Reviewed? Y
URL https://doi.org/10.1093/ereh/hey029
DOI https://doi.org/10.1093/ereh/hey029
Open Access Y
Open Access Link https://www.economics.ox.ac.uk/materials/working_papers/4582/160januaryde-bromhead-et-al.pdf
JEL F14, N74


Lampe, Markus (Details)
de Bromhead, Alan (Queen's University Belfast, United Kingdom)
Fernihough, Alan (Queen's University Belfast, United Kingdom)
O´Rourke, Kevin Hjortshøj (University of Oxford, United Kingdom)
Institute for Economic and Social History IN (Details)
Research areas (ÖSTAT Classification 'Statistik Austria')
5340 Economic history (Details)
5344 Foreign trade (Details)
6521 Economic history (Details)
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