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Networks and trade costs in commodity markets during the late nineteenth century: a new dataset and evidence

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  • Alexander Pütz
  • Pierre L Siklos
  • Christoph Sulewski

Abstract

A new dataset of weekly wheat prices during the 1898–1914 is generated. Using variance decompositions from vector autoregressive models, a network of nine wheat markets during the sample period is constructed and information spillovers between these markets are analyzed. Our results indicate that trade costs are a significant determinant of the relative importance of information transmission in the continental European wheat trade.

Suggested Citation

  • Alexander Pütz & Pierre L Siklos & Christoph Sulewski, 0. "Networks and trade costs in commodity markets during the late nineteenth century: a new dataset and evidence," European Review of Economic History, European Historical Economics Society, vol. 24(4), pages 675-695.
    • Handle: RePEc:oup:ereveh:v:24:y::i:4:p:675-695.
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    File URL: http://hdl.handle.net/10.1093/ereh/hez021
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