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

Andersson, Fredrik N G LU and Ljungberg, Jonas LU (2015) In Journal of Economic History 73(3). p.749-790
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.
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author
organization
publishing date
type
Contribution to journal
publication status
published
subject
in
Journal of Economic History
volume
73
issue
3
pages
749 - 790
publisher
Cambridge University Press
external identifiers
  • wos:000360578800005
  • scopus:84940470119
ISSN
0022-0507
DOI
10.1017/S0022050715001102
language
English
LU publication?
yes
id
801b3026-4027-4aba-8f04-d9c61c64af01 (old id 8077585)
date added to LUP
2015-10-23 15:14:20
date last changed
2017-01-29 03:47:04
@article{801b3026-4027-4aba-8f04-d9c61c64af01,
  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.},
  author       = {Andersson, Fredrik N G and Ljungberg, Jonas},
  issn         = {0022-0507},
  language     = {eng},
  number       = {3},
  pages        = {749--790},
  publisher    = {Cambridge University Press},
  series       = {Journal of Economic History},
  title        = {Grain Market Integration in the Baltic Sea Region in the Nineteenth Century},
  url          = {http://dx.doi.org/10.1017/S0022050715001102},
  volume       = {73},
  year         = {2015},
}