The Cobden-Chevalier treaty of 1860 eliminated French import prohibitions and lowered tariffs between France and Great Britain. The policy change was largely unexpected and unusually free from direct lobbying. A series of commercial treaties with other nations followed. Post-1860, we find a significant rise in French intra-industry trade. Sectors that liberalized more experienced higher two-way trade. Our findings are consistent with the idea that trade liberalization led to “smooth adjustment” that avoided costly inter-sectoral re-allocations of factors.

中文翻译：

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1860 年的法国（贸易）革命：产业内贸易与平稳调整

1860 年的 Cobden-Chevalier 条约取消了法国的进口禁令并降低了法国和英国之间的关税。政策变化在很大程度上是出乎意料的，而且不同寻常地没有直接游说。随后与其他国家签订了一系列商业条约。1860 年后，我们发现法国的产业内贸易显着增加。开放更多经验较高的双向贸易的部门。我们的研究结果与贸易自由化导致“平稳调整”避免成本高昂的跨部门重新分配要素的观点是一致的。