IDEAS home Printed from https://ideas.repec.org/p/kud/kuiedp/9407.html
   My bibliography  Save this paper

Integration and Deregulation of European Grain Markets, 1500-1900

Author

Listed:
  • Karl Gunnar Persson

    (Institute of Economics, University of Copenhagen)

Abstract

This paper gives straightforward answers to complex problems. First it identifies the adverse affects of the high price volatility typical of segmented grain markets during the ancien régime. Extending a result in the modern literature on poverty and famines it is argued that price stability improves 'survival' chances in a given capability state, such as the capability to participate in the labour market or to perform normal 'doings and beings'. Price instability in segmented markets was caused by local and independent supply shocks but these shocks had less and less impact on prices on, say, local wheat, because of the increased number of substitutes, such as wheat from other markets or other types of food, due to market integration permitted by lower transport, storage, and transaction costs. Then it asks why grain markets after centuries of regulation and public intervention enter a long century of deregulation starting c. 1750, and finally can be characterized as 'laissez-faire' markets. Cost-reducing technological progress stimulated integration which implied price stabilization and the waning of market power.

Suggested Citation

  • Karl Gunnar Persson, "undated". "Integration and Deregulation of European Grain Markets, 1500-1900," Discussion Papers 94-07, University of Copenhagen. Department of Economics.
  • Handle: RePEc:kud:kuiedp:9407
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. repec:rri:wpaper:200501 is not listed on IDEAS
    2. Walter Labys, 2005. "Commodity Price Fluctuations: A Century of Analysis," Working Papers Working Paper 2005-01, Regional Research Institute, West Virginia University.

    More about this item

    JEL classification:

    • O51 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - U.S.; Canada

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kud:kuiedp:9407. 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: (Thomas Hoffmann). General contact details of provider: http://edirc.repec.org/data/okokudk.html .

    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.

    We have no references for this item. You can help adding them by using 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.