Market integration from the Black Death to the First World War
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This is the replication package for the paper 'European Goods Market Integration in the Very Long Run: From the Black Death to the First World War', <i>Journal of Economic History</i>. Drawing on extensive new evidence, this paper argues that price
convergence across European wheat markets was a largely pre-modern phenomenon,
starting as early as the late 15th century and, interruptions
notwithstanding, continuing into the mid-19th century. The last quarter of the
19th century was characterized by divergence as trade policy
decisions came to dominate technical change. The ‘Little Divergence’ between
North-Western Europe and the rest of the continent shows up in the price data
from about 1600. Market efficiency began to improve in the early 16th
century and was as uneven over time as convergence in prices. This, the paper
argues, was an outcome of differential institutional change and non-synchronous
diffusion of systems of information transmission across space.
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提供机构：
ICPSR - Interuniversity Consortium for Political and Social Research
创建时间：
2020-12-18
