Market conditions in preindustrial Poland, 1500-1772

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Market conditions in preindustrial Poland, 1500-1772. / Malinowski, Mikołaj.

I: Economic History of Developing Regions, Vol. 31, Nr. 2-3, 09.2016, s. 253-276.

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TY - JOUR

T1 - Market conditions in preindustrial Poland, 1500-1772

AU - Malinowski, Mikołaj

PY - 2016/9

Y1 - 2016/9

N2 - In this paper I investigate commodity market integration, market efficiency and market performance in preindustrial Eastern Europe. In particular, I look at the Polish rye market between 1500 and 1772. I analyse annual rye price data from seven cities. The results suggest that market conditions in Poland in the sixteenth century were relatively favourable. The market disintegrated in the seventeenth century. Afterwards, Polish markets remained relatively segmented, in contrast to many Western European countries whose markets thrived in the eighteenth century. This supports the hypothesis that even before the Industrial Revolution there was the Little Divergence in economic development between western and eastern Europe. The disintegration crisis in Poland was linked to the separation of landlocked cities from the common market. After the seventeenth century, cities located on the Vistula river enjoyed better market conditions and remained better integrated than the landlocked ones. The long-term market crisis may have resulted from the devastating warfare in the mid-seventeenth century.

AB - In this paper I investigate commodity market integration, market efficiency and market performance in preindustrial Eastern Europe. In particular, I look at the Polish rye market between 1500 and 1772. I analyse annual rye price data from seven cities. The results suggest that market conditions in Poland in the sixteenth century were relatively favourable. The market disintegrated in the seventeenth century. Afterwards, Polish markets remained relatively segmented, in contrast to many Western European countries whose markets thrived in the eighteenth century. This supports the hypothesis that even before the Industrial Revolution there was the Little Divergence in economic development between western and eastern Europe. The disintegration crisis in Poland was linked to the separation of landlocked cities from the common market. After the seventeenth century, cities located on the Vistula river enjoyed better market conditions and remained better integrated than the landlocked ones. The long-term market crisis may have resulted from the devastating warfare in the mid-seventeenth century.

U2 - 10.1080/20780389.2016.1175297

DO - 10.1080/20780389.2016.1175297

M3 - Article

VL - 31

SP - 253

EP - 276

JO - Economic History of Developing Regions

JF - Economic History of Developing Regions

SN - 2078-0397

IS - 2-3

ER -