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Although few disagree that advancements in technology and the establishment of trade‐conducive transnational institutions play an important role in augmenting the potential for trade globalization, there is more disagreement surrounding alternative causal explanations of trade during the postwar period. While world‐system scholars argue that international trade increases when a hegemonic nation‐state is powerful enough to provide geopolitical stability and trade‐conducive policies, world‐polity theorists maintain that trade results from the emanation of “cultural scripts” that create compatible national institutions and trust among nation‐states. This article tests these theories by analyzing a global‐level data set with information from 1945 to 2005 via autoregressive integrated moving‐average models. The results provide strong support for the world‐system contention that increases in the power of the hegemonic nation‐state amplify levels of trade globalization. Furthermore, although there is some support for the world‐polity contention that the spread of democracy is positively associated with international trade, there is little evidence to validate the claim that the proliferation of intergovernmental organizations enhances trade globalization.
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