Overseas Trade and the Decline of Privateering

Datos Bibliográficos

ID10105033
AutoresHenning Hillmann, H C Hillmann (0009-0006-5232-6792, University of Mannheim, autor de correspondencia), Christina Gathmann (0000-0002-9158-0375, University of Mannheim, autor de correspondencia)
Año2011
Volumen71
Número3
Páginas730-761
Fecha de publicación2011-09-13
Peer ReviewedSí
Open AccessSí
TipoARTICLE
RevistaThe Journal of Economic History (JOURNAL)
Identificadores de la revistaISSN: 0022-0507 • E-ISSN: 1471-6372
EditorialCambridge University Press (CUP) (PUBLISHER)
DOI10.1017/s0022050711001902
OpenAlexW3124139654
IdiomaEN
Citas recibidas10
Referencias citadas55

Using a novel data set on 2,483 British privateering cruises, we show that state-licensed raiding of commercial vessels was a popular and flourishing business among merchants that took a serious toll on enemy trade from 1689 to 1815. Why, then, did privateering merchants gradually turn away from these profitable endeavors? We show that the expansion of overseas trade increased the opportunity costs for merchants and resulted in the decline of privateering. Our findings document that the decline of privateering had as much to do with an expanding maritime economy as with the rising naval power of the British state

Adversary · Business · Economics · Economy · Flourishing · State (computer science · Toll · Colonialism, slavery, and trade · Global trade and economics · Law, logistics, and international trade