Year: 2024
Type: article
Abstract: Research on trade liberalization frequently overlooks the effects on third-party welfare. This paper studies a historically tragic third-party consequence of a special case of tariff reform: the British Sugar Act of 1846. Using a new database of monthly observations of prices and import volumes for the period 1840–1853, I estimate the price and welfare effects of the passage of the Sugar Act for consumers and colonial and noncolonial producers. Considerable consumption gains for British consumers and a reduced deadweight loss were derived from the intensification of trade with the slave economies.
Source: The Journal of Economic History
Author: Christopher David Absell
Institutions: Universidad Carlos III de Madrid, University of Gothenburg
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: hybrid
Estimated APC paid: $3,450
Funder: Riksbankens Jubileumsfond
OpenAlex ID: W4405782803