Historical Analysis Questions Role of Trade Barriers in Europe-Americas Commerce

Economic historians Kevin O’Rourke and Jeffrey Williamson published a paper in 2002 examining Europe’s overseas trade boom between 1500 and 1800. The research analyzed commerce between Europe and the Americas, concluding that trade flourished even when dominated by economic hurdles such as import duties, excise taxes, and export restrictions. The authors estimated that rising demand explained roughly half to two-thirds of the trade expansion.

The findings suggest that the expansion of global commerce was not solely dependent on the removal of trade barriers, challenging the narrative that free trade is the primary driver of economic growth. The study noted that price gaps between continents persisted despite improvements in shipping technology.