Suez
For all its importance, there still is no comprehensive quantitative assessment of the Suez Canal’s opening in 1869. We find that it led to a 72% relative increase in bilateral exports for affected country pairs and a likely permanent increase in world trade. With respect to the composition of trade, Suez was associated with large changes in export shares but only for a handful of goods categories. With respect to mechanisms, the relative cost of using steamships on Suez-affected routes fell dramatically and immediately after 1869, suggesting a vital role for the canal in the global diffusion of steam technology.
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Copy CitationDavid S. Jacks, Christopher M. Meissner, and Nikolaus Wolf, "Suez," NBER Working Paper 33250 (2024), https://doi.org/10.3386/w33250.
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