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

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

Abstract

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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  • Chilosi, David & Murphy, Tommy E. & Studer, Roman & Tunçer, A. Coşkun, 2013. "Europe's many integrations: Geography and grain markets, 1620–1913," Explorations in Economic History, Elsevier, vol. 50(1), pages 46-68.
  • Handle: RePEc:eee:exehis:v:50:y:2013:i:1:p:46-68
    DOI: 10.1016/j.eeh.2012.09.002
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    2. John E. Murray & Javier Silvestre, 2020. "Integration in European coal markets, 1833–1913," Economic History Review, Economic History Society, vol. 73(3), pages 668-702, August.
    3. Qing Pei & David D Zhang & Guodong Li & Harry F Lee, 2015. "Climate Change and the Macroeconomic Structure in Pre-Industrial Europe: New Evidence from Wavelet Analysis," PLOS ONE, Public Library of Science, vol. 10(6), pages 1-17, June.
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    5. Qing Pei & David D Zhang & Harry F Lee & Guodong Li, 2014. "Climate Change and Macro-Economic Cycles in Pre-Industrial Europe," PLOS ONE, Public Library of Science, vol. 9(2), pages 1-8, February.
    6. Emma M., Iglesias & J. Carles, Maixé-Altés, 2021. "Money Market Integration in Spain in the Ninetheen Century: The Role of the 1875-1885 Decade," MPRA Paper 109219, University Library of Munich, Germany.
    7. Daniel Cassidy & Nick Hanley, 2020. "Regional market integration and the emergence of a Scottish national grain market," Working Papers 0200, European Historical Economics Society (EHES).
    8. Fredrik Charpentier Ljungqvist & Peter Thejll & Bo Christiansen & Andrea Seim & Claudia Hartl & Jan Esper, 2022. "The significance of climate variability on early modern European grain prices," Cliometrica, Springer;Cliometric Society (Association Francaise de Cliométrie), vol. 16(1), pages 29-77, January.
    9. Mikołaj Malinowski, 2018. "Economic consequences of state failure; Legal capacity, regulatory activity, and market integration in Poland, 1505-1772," Working Papers 0143, European Historical Economics Society (EHES).
    10. Garcia-Hiernaux, Alfredo & Guerrero, David E., 2021. "Price convergence: Representation and testing," Economic Modelling, Elsevier, vol. 104(C).
    11. Johnson, Noel D. & Koyama, Mark, 2017. "States and economic growth: Capacity and constraints," Explorations in Economic History, Elsevier, vol. 64(C), pages 1-20.
    12. Faustine Perrin, 2022. "On the origins of the demographic transition: rethinking the European marriage pattern," Cliometrica, Springer;Cliometric Society (Association Francaise de Cliométrie), vol. 16(3), pages 431-475, September.
    13. Chilosi, David, 2014. "Risky Institutions: Political Regimes and the Cost of Public Borrowing in Early Modern Italy," The Journal of Economic History, Cambridge University Press, vol. 74(3), pages 887-915, September.
    14. Broadberry, Stephen & Gardner, Leigh, 2015. "Economic Development In Africa And Europe : Reciprocal Comparisons," CAGE Online Working Paper Series 232, Competitive Advantage in the Global Economy (CAGE).
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    16. Alexander Pütz & Pierre L. Siklos & Christoph Sulewski, 2019. "“Who pays the piper calls the tune” – Networks and transaction costs in commodity markets," CQE Working Papers 8819, Center for Quantitative Economics (CQE), University of Muenster.
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    18. Miquel-Àngel Garcia-López & Alfonso Herranz-Loncán & Filippo Tassinari & Elisabet Viladecans-Marsal, 2021. "Paving the way to modern growth. Evidence from Bourbon roads in Spain," Working Papers 0209, European Historical Economics Society (EHES).

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    More about this item

    Keywords

    International and domestic trade; Transport costs; Geography; Economic integration; Grain markets; Factor analysis; Europe; Pre-1913;
    All these keywords.

    JEL classification:

    • N13 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: Pre-1913
    • F15 - International Economics - - Trade - - - Economic Integration
    • C38 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Classification Methdos; Cluster Analysis; Principal Components; Factor Analysis
    • N73 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - Europe: Pre-1913
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • Q17 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agriculture in International Trade

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