Weltwirtschaftliches archiv-review of world economics vol:133 issue:4 pages:708-736
This paper studies globalization, protection and the impact of regional trading blocs in the twentieth century. The authors take the perspective of a small open core country in Europe. Using a gravity approach, it can be shown that trade integration in Europe followed a U-shaped pattern during the last hundred years. Moreover, the similarity between the gold standard and the current period is striking. Finally, evidence is found of a strong EC effect, in particular among EC6 countries.