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Europe's many integrations: Geography and grain markets, 1620–1913

  • Chilosi, David
  • Murphy, Tommy E.
  • Studer, Roman
  • Tunçer, A. Coşkun

This article documents and examines the integration of markets across the early modern/late modern divide, exploiting the largest dataset compiled to date on grain prices, spanning one hundred European cities evenly spread across land-locked and low-land areas. Using those series, it studies various measures of integration across distances and regions, and relies on principal component analysis to identify market structures. The analysis finds that European market integration was a gradual and step-wise rather than sudden process, and that early modern market structures were shaped by geography more directly than by political borders.

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Article provided by Elsevier in its journal Explorations in Economic History.

Volume (Year): 50 (2013)
Issue (Month): 1 ()
Pages: 46-68

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Handle: RePEc:eee:exehis:v:50:y:2013:i:1:p:46-68
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  1. Corsetti, Giancarlo & Pericoli, Marcello & Sbracia, Massimo, 2005. "'Some contagion, some interdependence': More pitfalls in tests of financial contagion," Journal of International Money and Finance, Elsevier, vol. 24(8), pages 1177-1199, December.
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  7. Persson,Karl Gunnar, 1999. "Grain Markets in Europe, 1500–1900," Cambridge Books, Cambridge University Press, number 9780521650960, November.
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  9. O'Rourke, Kevin H., 1997. "The European Grain Invasion, 1870–1913," The Journal of Economic History, Cambridge University Press, vol. 57(04), pages 775-801, December.
  10. BAI, Jushan & PERRON, Pierre, 1998. "Computation and Analysis of Multiple Structural-Change Models," Cahiers de recherche 9807, Universite de Montreal, Departement de sciences economiques.
  11. Crouzet, François, 1964. "Wars, Blockade, and Economic Change in Europe, 1792–1815," The Journal of Economic History, Cambridge University Press, vol. 24(04), pages 567-588, December.
  12. Studer, Roman, 2008. "India and the Great Divergence: Assessing the Efficiency of Grain Markets in Eighteenth- and Nineteenth-Century India," The Journal of Economic History, Cambridge University Press, vol. 68(02), pages 393-437, June.
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  16. Federico, Giovanni, 2007. "Market integration and market efficiency: The case of 19th century Italy," Explorations in Economic History, Elsevier, vol. 44(2), pages 293-316, April.
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  18. O Rourke, Kevin H, 2006. "The worldwide economic impact of the French Revolutionary and Napoleonic Wars, 1793 1815," Journal of Global History, Cambridge University Press, vol. 1(01), pages 123-149, March.
  19. repec:spo:wpecon:info:hdl:2441/b0ghejdpldro9c499h4ajc937 is not listed on IDEAS
  20. Uebele, Martin, 2011. "National and international market integration in the 19th century: Evidence from comovement," Explorations in Economic History, Elsevier, vol. 48(2), pages 226-242, April.
  21. Giovanni Federico, 2012. "The Corn Laws in continental perspective," European Review of Economic History, Oxford University Press, vol. 16(2), pages 166-187, May.
  22. Guillaume Daudin, 2010. "Domestic Trade and Market Size in Late 18th century France," Sciences Po publications info:hdl:2441/b0ghejdpldr, Sciences Po.
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  24. Jacks, David S., 2005. "Intra- and international commodity market integration in the Atlantic economy, 1800-1913," Explorations in Economic History, Elsevier, vol. 42(3), pages 381-413, July.
  25. Chilosi, David & Volckart, Oliver, 2011. "Money, States, and Empire: Financial Integration and Institutional Change in Central Europe, 1400–1520," The Journal of Economic History, Cambridge University Press, vol. 71(03), pages 762-791, September.
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