This paper analyses trade and capital flows relations and compare real GDP growth rates from 1865 to 1913 in Scandinavia and the Southern European countries of Italy, Portugal, and Spain. Cointegration analysis for trade and capital flows with respect to GDP reveal that there is a long-run...

Current trade liberalization in Europe has stimulated the theoretical and empirical analysis of the effects of economic integration on industrial location. The aim of this paper is to analyse, both theoretically and empirically, the effects of trade liberalization and market integration in 19th...