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What drove 19th century commodity market integration?

Authors :
Jacks, David S.
Source :
Explorations in Economic History. July, 2006, Vol. 43 Issue 3, 383-412
Publication Year :
2006

Abstract

The estimates of trade costs and of speeds of price adjustment in wheat markets were used to determine the drivers of commodity market integration in the 19th century. The findings reveal that trade costs were found to be more responsive to changes in the choice of monetary regimes and commercial policy than changes in the underlying technology of transport and speeds of price adjustment present a more balanced account as transport, monetary, and commercial variables all seem to play a part.

Details

Language :
English
ISSN :
00144983
Volume :
43
Issue :
3
Database :
Gale General OneFile
Journal :
Explorations in Economic History
Publication Type :
Academic Journal
Accession number :
edsgcl.149442077