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

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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.


Externa organisationer
  • Utrecht University
  • Leiden University

Ämnesklassifikation (UKÄ) – OBLIGATORISK

  • Ekonomisk historia
Sidor (från-till)347-378
Antal sidor32
TidskriftContinuity and Change
StatusPublished - 2012 dec
Peer review utfördJa
Externt publiceradJa