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Money, states and empire: financial integration cycles and institutional change in Central Europe, 1400-1520

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Author Info

  • David Chilosi
  • Oliver Volckart

Abstract

By analysing a newly compiled database of exchange rates, this paper finds that Central European financial integration advanced in a cyclical fashion over the fifteenth century. The cycles were associated with changes in the money supply. Long-distance financial integration progressed in connection with the rise of the territorial state, facilitated by the synergy between princes and emperor.

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File URL: http://eprints.lse.ac.uk/27884/
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Bibliographic Info

Paper provided by London School of Economics and Political Science, Department of Economic History in its series Economic History Working Papers with number 27884.

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Length: 74 pages
Date of creation: Dec 2009
Date of revision:
Handle: RePEc:ehl:wpaper:27884

Contact details of provider:
Postal: LSE, Dept. of Economic History Houghton Street London, WC2A 2AE, U.K.
Phone: +44 (0) 20 7955 7084
Web page: http://www.lse.ac.uk/economicHistory/
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References

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  1. Eugene Canjels & Gauri Prakash-Canjels & Alan M. Taylor, 2004. "Measuring Market Integration: Foreign Exchange Arbitrage and the Gold Standard, 1879-1913," The Review of Economics and Statistics, MIT Press, vol. 86(4), pages 868-882, November.
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  3. Dobado, Rafael & Marrero, Gustavo A., 2005. "Corn Market Integration in Porfirian Mexico," The Journal of Economic History, Cambridge University Press, vol. 65(01), pages 103-128, March.
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Citations

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Cited by:
  1. Lars Boerner & Oliver Volckart, 2010. "The utility of a common coinage: currency unions and the integration of money markets in late medieval Central Europe," Economic History Working Papers 29409, London School of Economics and Political Science, Department of Economic History.
  2. Börner, Lars & Severgnini, Battista, 2011. "Epidemic trade," Discussion Papers 2011/12, Free University Berlin, School of Business & Economics.
  3. David Chilosi & Oliver Volckart, 2010. "Good or bad money?: debasement, society and the state in the late Middle Ages," Economic History Working Papers 27946, London School of Economics and Political Science, Department of Economic History.
  4. Lucy Badalian & Victor Krivorotov, 2010. "The amazing synchronicity of the Global Development (the 1300s-1450s). An institutional approach to the globalization of the late Middle Ages," Economic History Working Papers 27906, London School of Economics and Political Science, Department of Economic History.
  5. David Chilosi & Oliver Volckart, 2010. "Books or bullion? Printing, mining and financial integration in Central Europe from the 1460s," Economic History Working Papers 28986, London School of Economics and Political Science, Department of Economic History.

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