The organisation of markets as a key factor in the rise of Holland from the fourteenth to the sixteenth century: A test case for an institutional approach

Research output: Contribution to journalArticle


Although the importance of New Institutional Economics and the institutional approach for understanding pre-industrial economic development and the early growth of markets are widely accepted, it has proven to be difficult to assess more directly the effects of institutions on the functioning of markets. This paper uses empirical research on the rise of markets in late medieval Holland to illuminate some of the factors behind the development of the specific institutional framework of markets for land, labour, capital and goods, and some effects of these institutions on the actual functioning of the markets. The findings are corroborated by a tentative comparison with the functioning of markets in Flanders and eastern England.


External organisations
  • Utrecht University
  • Leiden University
Research areas and keywords

Subject classification (UKÄ) – MANDATORY

  • Economic History
Original languageEnglish
Pages (from-to)347-378
Number of pages32
JournalContinuity and Change
Issue number3
Publication statusPublished - 2012 Dec
Publication categoryResearch
Externally publishedYes