Markets and Growth in Early Modern Europe

267 Pages·2013·1.756 MB·English

by  Victoria N Bateman

MARKETS AND GROWTH IN
EARLY MODERN EUROPE
Perspectives in Economic and Social History
Series Editors: Robert E. Wright
Andrew August
Titles in this Series
1 Migrants and Urban Change: Newcomers to Antwerp, 1760–1860
Anne Winter
2 Female Entrepreneurs in Nineteenth-Century Russia
Galina Ulianova
3 Barriers to Competition: Th e Evolution of the Debate
Ana Rosado Cubero
4 Rural Unwed Mothers: An American Experience, 1870–1950
Mazie Hough
5 English Catholics and the Education of the Poor, 1847–1902
Eric G. Tenbus
6 Th e World of Carolus Clusius: Natural History in the Making, 1550–1610
Florike Egmond
7 Th e Determinants of Entrepreneurship: Leadership, Culture, Institutions
José L. García-Ruiz and Pier Angelo Toninelli (eds)
8 London Clerical Workers, 1880–1914: Development of the Labour Market
Michael Heller
9 Th e Decline of Jute: Managing Industrial Change
Jim Tomlinson, Carlo Morelli and Valerie Wright
10 Mining and the State in Brazilian Development
Gail D. Triner
11 Global Trade and Commercial Networks: Eighteenth-Century Diamond
Merchants
Tijl Vanneste
12 Th e Clothing Trade in Provincial England, 1800–1850
Alison Toplis
13 Sex in Japan’s Globalization, 1870–1930: Prostitutes, Emigration and
Nation Building
Bill Mihalopoulos
14 Financing India’s Imperial Railways, 1875–1914
Stuart Sweeney
15 Energy, Trade and Finance in Asia: A Political and Economic Analysis
Justin Dargin and Tai Wei Lim
16 Violence and Racism in Football: Politics and Cultural Confl ict in British
Society, 1968–1998
Brett Bebber
17 Th e Economies of Latin America: New Cliometric Data
César Yáñez and Albert Carreras (eds)
18 Meat, Commerce and the City: Th e London Food Market, 1800–1855
Robyn S. Metcalfe
19 Merchant Colonies in the Early Modern Period
Victor N. Zakharov, Gelina Harlaft is and Olga Katsiardi-Hering (eds)
Forthcoming Titles
Welfare and Old Age in Europe and North America: Th e Development of
Social Insurance
Bernard Harris (ed.)
Female Economic Strategies in the Modern World
Beatrice Moring (ed.)
Policing Prostitution, 1856–1886: Deviance, Surveillance and Morality
Catherine Lee
Respectability and the London Poor, 1780–1870: Th e Value of Virtue
Lynn MacKay
Narratives of Drunkenness: Belgium, 1830–1914
An Vleugels
Mercantilism and Economic Underdevelopment in Scotland, 1600–1783
Philipp Robinson Rössner
Crime and Community in Reformation Scotland: Negotiating Power in a
Burgh Society
Robert Falconer
Residential Institutions in Britain, 1725–1950: Inmates and Environments
Jane Hamlett, Lesley Hoskins and Rebecca Preston (eds)
Consuls and the Institutions of Global Capitalism, 1783–1914
Ferry de Goey
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MARKETS AND GROWTH IN
EARLY MODERN EUROPE
by
Victoria N. Bateman
First published 2012 by Pickering & Chatto (Publishers) L imited
Published 2016 by Routled ge
2 Park Square, Milton Park, Abingdon, Oxon OX14 4RN
711 Third Avenue, New York, NY 10017, USA
Routledge is an imprint of the Taylor & Francis Group, an informa busin ess
©Taylor & Francis 2012
© Victoria N. Bateman 2012
To the best of the Publisher’s knowledge every eff ort has been made to contact
relevant copyright holders and to clear any relevant copyright issues. 
Any omissions that come to their attention will be remedied in future editions.
All rights reserved, including those of translation into foreign languages. No part of this book
may be reprinted or reproduced or utilised in any form or by any electronic, mechanical, or
other means, now known or hereafter invented, including photocopying and recording, or in
any information storage or retrieval system, without permission in writing from the pub lishers.
Notice :
Product or corporate names may be trademarks or registered trademark s, and
are used only for identification and explanation without intent to in fringe.
british library cataloguing in publication data
Bateman, Victoria N. (Victoria Naomi), 1979–
Markets and growth in early modern Europe. – (Perspectives in economic and
social history)
1. Capitalism – Europe – History – 16th century. 2. Capitalism – Europe –
History – 17th century. 3. Capitalism – Europe – History – 18th century. 4.
Europe – Economic conditions – 16th century. 5. Europe – Economic condi-
tions – 17th century. 6. Europe – Economic conditions – 18th century.
I. Title II. Series
330.1’22’094’0903-dc23
ISBN-13: 978-1-84893-258-6 (hbk)
Typeset by Pickering & Chatto (Publishers) Limited
CONTENTS
List of Figures and Tables ix
Acknowledgements xi
Preface xiii
Introduction 1
1 Markets in History: A Survey 11
2 Th e Course of Early Modern Market Integration: Country-Level Results 41
3 Th e Course of Early Modern Market Integration: Th e Mediterranean and
the North-West Region 91
4 Early Modern Market Integration in a Longer Run Perspective 105
5 Th e Causes of Early Modern Market Integration and Disintegration 125
6 Th e Consequences of Early Modern Markets: An Examination of the
Relationship between Markets and Economic Growth 149
7 Conclusions and Implications for Economic Policy and the Modern Day 167
Notes 183
Works Cited 221
Index 245
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LIST OF FIGURES AND TABLES
Figure 1.1: Urbanization rates in Europe, 1500–1850 28
Figure 1.2: Agricultural productivity in Europe, 1400–1800 29
Figure 1.3: Welfare ratios of building labourers in Europe, 1500–1799 30
Figure 2.1: Annual grain prices (grams of silver per litre) 46
Figure 3.1: Price gaps – Mediterranean versus north-west 101
Figure 3.2: Speeds of adjustment – Mediterranean versus north-west 103
Figure 4.1: Coeffi cient of variation (monthly data) – long-run trend 109
Figure 4.2: Examining price convergence for soap (London, Antwerp,
Amsterdam, Vienna, Madrid and Naples) 111
Figure 4.3: Examining price convergence for candles (London, Antwerp,
Augsburg, Vienna, Madrid and Strasbourg) 112
Figure 4.4: Examining price convergence for linen (London, Antwerp,
Augsburg, Munich, Leipzig, Strasbourg and Florence/Milan) 112
Figure 5.1: Tree ring growth in Europe, 1500–1899 129
Figure 5.2: European Population (excluding Russia, log scale), 1–2000 131
Figure 5.3: A new scheme for explaining the development of markets 137
Figure 6.1: European GDP p.c. (twelve countries) 150
Table 2.1: Between-country wheat price-gaps 80
Table 2.2: Within-country wheat price-gaps 82
Table 2.3: Country-level annual wheat price volatility 84
Table 2.4: City-level monthly wheat price volatility 85
Table 2.5: Distance adjusted speeds of adjustment 87
Table 2.6: Non wheat price-gaps 89
Table 3.1: Coeffi cients of Variation (annual data) – Mediterranean versus
north-west 103
Table 4.1: Between-country price-gap long run trend 110
Table 5.1: Country-level results, 1400–1800 145
Table 5.2: Country and City-level bivariate results 146
Table 6.1: Country-level investigation of the link between markets
and growth 153
Table 6.2: City-level investigation of the link between markets and growth 154
– ix –