{"id":1207867,"name":"World trade - lower bound (% of GDP) (Estevadeordal, Frantz, and Taylor (2003))","unit":"%","description":"World trade as a share of GDP,  lower bound estimates.","createdAt":"2026-03-10T08:49:16.000Z","updatedAt":"2026-03-10T08:49:16.000Z","coverage":"","timespan":"1500-1820","datasetId":7701,"columnOrder":0,"shortName":"world_trade__lower_bound__pct_of_gdp__estevadeordal__frantz__and_taylor__2003","catalogPath":"grapher/trade/2018-07-20/world_trade__upper_bound__pct_of_gdp__estevadeordal__frantz__and_taylor__2003__split/world_trade__upper_bound__pct_of_gdp__estevadeordal__frantz__and_taylor__2003__split#world_trade__lower_bound__pct_of_gdp__estevadeordal__frantz__and_taylor__2003","type":"float","datasetName":"World trade - upper bound (% of GDP) (Estevadeordal, Frantz, and Taylor (2003)) (split)","datasetVersion":"2018-07-20","nonRedistributable":false,"display":{"unit":"%"},"schemaVersion":1,"presentation":{},"source":{"id":31456,"name":"Estevadeordal, Frantz, and Taylor (2003)","dataPublishedBy":"Estevadeordal, A., Frantz, B., & Taylor, A. (2003). The Rise and Fall of World Trade, 1870-1939. The Quarterly Journal of Economics, 118(2), 359-407. Retrieved from http://www.jstor.org/stable/25053910","dataPublisherSource":"","link":"https://www.jstor.org/stable/25053910?seq=1#page_scan_tab_contents","retrievedDate":"2018-07-20","additionalInfo":"Notes on the calculation of the lower and upper bound estimates from the authors: \"1500–1800: Trade growth rates from O’Rourke and Williamson [2002, Table 1; volume estimates only]. Level index derived, and scaled by world GDP levels from Maddison [2001, Table B-18]. The “upper bound” series is then scaled to the benchmark 8 percent European trade-GDP ratio for 1780 due to O’Brien [1982], probably an overstatement of the world trade-GDP ratio. The “lower bound” series is scaled to the benchmark 2 percent world trade-GDP ratio for 1820 due to Maddison [1995, Table 2-4], possibly biased downwards relative to the long-run trend because of the blockades during the Napoleonic Wars.\""},"dimensions":{"years":{"values":[{"id":1500},{"id":1600},{"id":1700},{"id":1820}]},"entities":{"values":[{"id":355,"name":"World","code":"OWID_WRL"}]}},"origins":[]}