India and the Great Divergence: Assessing the Efficiency of Grain Markets in Eighteenth- and Nineteenth-Century India
By analysing a newly compiled data base of grain prices, this article finds that prior to the nineteenth century the grain trade in India was essentially local, while more distant markets remained fragmented.� It was only in the second half of the nineteenth century that market integration accelerated, so that by the end of the century a national grain market had emerged.� The paper also contributes to the comparative great divergence debate, in that it rejects, for India, the claim of the California School of 'Asia' having reached a similar stage of economic development as Europe before the late eighteenth or early nineteenth century.� In a larger context, this contribution can thus be seen as part of the larger counter-revoution against the iconoclasm of the California School.
(This abstract was borrowed from another version of this item.)
Volume (Year): 68 (2008)
Issue (Month): 02 (June)
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