{"id": 97702, "name": "World trade - upper bound (% of GDP) (Estevadeordal, Frantz, and Taylor (2003))", "unit": "%", "description": "World trade as a share of GDP,  upper bound estimates.", "createdAt": "2018-07-20T17:07:58.000Z", "updatedAt": "2023-06-15T05:05:42.000Z", "coverage": "", "timespan": "", "datasetId": 3033, "columnOrder": 0, "dataPath": "https://api.ourworldindata.org/v1/indicators/97702.data.json", "metadataPath": "https://api.ourworldindata.org/v1/indicators/97702.metadata.json", "datasetName": "World trade - upper bound (% of GDP) (Estevadeordal, Frantz, and Taylor (2003)) (split)", "type": "float", "nonRedistributable": false, "display": {}, "source": {"id": 15579, "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": "Historical data and scholarly sources.", "link": "https://www.jstor.org/stable/25053910?seq=1#page_scan_tab_contents", "retrievedDate": "20/07/2018", "additionalInfo": "Notes on the calculation of the lower and upper bound estimates from the authors: \"1500\u20131800: Trade growth rates from O\u2019Rourke and Williamson [2002, Table 1; volume estimates only]. Level index derived, and scaled by world GDP levels from Maddison [2001, Table B-18]. The \u201cupper bound\u201d series is then scaled to the benchmark 8 percent European trade-GDP ratio for 1780 due to O\u2019Brien [1982], probably an overstatement of the world trade-GDP ratio. The \u201clower bound\u201d 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"}]}}}