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The evolution of markets in early modern Europe, 1350-1800: A study of grain prices

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  • Victoria N. Bateman
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    Abstract

    This paper attempts to establish the trend of market development in Europe in the centuries before the industrial revolution, by applying three different measures of market integration to a compilation of monthly and annual price data. In contrast to much of the existing work, which suggests that markets generally improved during this time, the findings propose that markets were as well integrated in the fifteenth century as in the late eighteenth century. In between these two times, markets are found to have suffered a severe contraction. These results provide a challenge to our current thoughts on economic growth.

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    File URL: http://www.economics.ox.ac.uk/materials/working_papers/paper350.pdf
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    Bibliographic Info

    Paper provided by University of Oxford, Department of Economics in its series Economics Series Working Papers with number 350.

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    Date of creation: 01 Sep 2007
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    Handle: RePEc:oxf:wpaper:350

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    Related research

    Keywords: Market Integration; Economic Growth; European Economic History; Price Data; Fixed Effects Panel Model;

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    Cited by:
    1. Lars Boerner & Battista Severgnini, 2012. "Epidemic Trade," Working Papers 0024, European Historical Economics Society (EHES).

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