Grain Market Integration in the Baltic Sea Region in the Nineteenth Century

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Abstract

This article explores the development of market integration within the Baltic Sea region and with England, from the 1840s to the late 1880s. It exploits two new datasets on grain prices. The degree of market integration is estimated using a wavelet variant of dynamic factor analysis that takes account of both time and distance. Additionally, we use the London corn market as the benchmark for the degree of market integration. Our results show that the role of distance disappeared in the wheat and rye, but not in the oats and barley trade, as the Baltic Sea Region became integrated into the Atlantic economy.

Detaljer

Författare
Enheter & grupper
Forskningsområden

Ämnesklassifikation (UKÄ) – OBLIGATORISK

  • Ekonomisk historia
Originalspråkengelska
Sidor (från-till)749-790
TidskriftJournal of Economic History
Volym73
Utgåva nummer3
StatusPublished - 2015
PublikationskategoriForskning
Peer review utfördJa