Working Paper: CEPR ID: DP5079
Authors: Kevin H. O'Rourke
Abstract: The paper provides a comparative history of the economic impact of the Revolutionary and Napoleonic Wars. By focussing on the relative price evidence, it is possible to show that the conflict had major economic effects around the world. Britain's control of the seas meant that it was much less affected than other nations, such as France and the United States. Explicit welfare calculations are provided for four countries, Britain, France, Sweden and the United States. Welfare losses were largest in the US, where they were of the order of 5-6% per annum; by contrast, they lay between 3-4% per annum in France, and between 1.7-1.8% per annum in Britain. On the other hand, the conflict helped pave the way for the more liberal international economic environment of the long 19th century.
Keywords: Trade; War
JEL Codes: F10; N70
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| Revolutionary and Napoleonic Wars (N43) | worldwide economic impact (F69) |
| Revolutionary and Napoleonic Wars (N43) | welfare losses (D69) |
| Britain's naval supremacy (F52) | mitigation of economic impact (F69) |
| Revolutionary and Napoleonic Wars (N43) | trade disruption (F69) |
| blockades (D74) | trade volumes (F10) |
| blockades (D74) | relative prices of importables (F14) |