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Market conditions in preindustrial Poland, 1500-1772

Malinowski, Mikołaj LU (2016) In Economic History of Developing Regions
Abstract
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... (More)
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. (Less)
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author
organization
publishing date
type
Contribution to journal
publication status
epub
subject
in
Economic History of Developing Regions
publisher
Taylor & Francis
ISSN
2078-0397
DOI
10.1080/20780389.2016.1175297
language
English
LU publication?
yes
id
6bc646ab-3c31-4f49-b1fc-f7f3ec52626e
date added to LUP
2016-09-06 16:13:32
date last changed
2016-09-09 14:53:30
@misc{6bc646ab-3c31-4f49-b1fc-f7f3ec52626e,
  abstract     = {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.},
  author       = {Malinowski, Mikołaj},
  issn         = {2078-0397},
  language     = {eng},
  publisher    = {ARRAY(0xb35a9c8)},
  series       = {Economic History of Developing Regions},
  title        = {Market conditions in preindustrial Poland, 1500-1772},
  url          = {http://dx.doi.org/10.1080/20780389.2016.1175297},
  year         = {2016},
}