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All roads lead to market integration : lessons from a spatial analysis of the wheat market in 18th century Spain

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  • López Cermeño, Alexandra
  • Santiago Caballero, Carlos

Abstract

This paper uses newly collected data from a large-scale census (Catastro de la Ensenada) to investigate the scale and causes of market integration in eighteenth century Spain. We use wheat prices observed in more than 5,200 municipalities to analyse the local spatial dependence of prices. We detect several regional clusters in the centre and coasts but find that these were not integrated with each other. We then investigate the first nature, second nature, and demand side determinants of these clusters and find that although geographical constrains like terrain roughness play a negatively significant role, the transportation network allowed connected municipalities to alleviate such obstacles. Our results suggest that unfavourable geographical conditions can be overcome by investments in transportation infrastructures.

Suggested Citation

  • López Cermeño, Alexandra & Santiago Caballero, Carlos, 2020. "All roads lead to market integration : lessons from a spatial analysis of the wheat market in 18th century Spain," IFCS - Working Papers in Economic History.WH 30247, Universidad Carlos III de Madrid. Instituto Figuerola.
    • Handle: RePEc:cte:whrepe:30247
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    Cited by:

    1. Charotti, Carlos Javier & Palma, Nuno & dos Santos, Joao Pereira, 2022. "American treasure and the decline of Spain," CEPR Discussion Papers 17020, C.E.P.R. Discussion Papers.
    2. 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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    Keywords

    Early Modern;

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