IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this article or follow this journal

When did European markets integrate?

  • FEDERICO, GIOVANNI

This article argues that market integration should be measured as σ-convergence over the largest possible sample of markets. Its focus is the European market for wheat, rye and candles from the middle of the eighteenth century to the eve of the first globalization. Price dispersion for cereals remained constant until the outbreak of the French Wars, then it increased abruptly. It began to decline after the end of the wars, and the process continued steadily until an all-time low was reached in the 1860s. Domestic and international integration contributed in roughly the same proportions to integration in the long run, but the latter was much more important in accounting for medium-term changes. These results suggest that the level of integration was determined for most of the period by war and political events, with a substantial contribution from a fall in transport costs in the second quarter of the nineteenth century. By contrast, there is very little evidence of integration in the market for candles.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://journals.cambridge.org/abstract_S1361491610000146
File Function: link to article abstract page
Download Restriction: no

Article provided by Cambridge University Press in its journal European Review of Economic History.

Volume (Year): 15 (2011)
Issue (Month): 01 (April)
Pages: 93-126

as
in new window

Handle: RePEc:cup:ereveh:v:15:y:2011:i:01:p:93-126_00
Contact details of provider: Postal: Cambridge University Press, UPH, Shaftesbury Road, Cambridge CB2 8BS UK
Web page: http://journals.cambridge.org/jid_ERE
Email:

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:cup:ereveh:v:15:y:2011:i:01:p:93-126_00. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Keith Waters)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.