G2TT
来源类型Discussion paper
规范类型论文
来源IDDP6793
DP6793 The Struggle for Palestinian Hearts and Minds: Violence and Public Opinion in the Second Intifada
David Jaeger; Daniele Paserman; Esteban Klor; Sami Miaari
发表日期2008-04-18
出版年2008
语种英语
摘要We study the relative importance of technology and institutions as factors determining the size of markets. The setting of 19th century Europe presents a unique opportunity to address this issue, since it witnessed fundamental change in both dimensions. First, Germany went from around 1,800 customs borders to none through the Zollverein customs treaties. Second, it moved from a situation of monetary disorder to currency unification. And third, the 19th century saw the introduction of steam trains, the key technology that revolutionized transportation between markets. Changes in market integration are studied in terms of the spatial dispersion of grain prices in 68 markets with more than 10,000 observations, located in five different countries and fifteen different German states. We find that the emergence of integrated commodity markets in 19th century Europe is in major part due to the transportation revolution in form of the railways. There is evidence that also customs liberalizations and, more so, currency agreements improved trade possibilities. However, the impact of trains was larger than the effect of these institutions: about three times larger over the long horizon, and around 50% larger for the relatively short time horizon of twenty-five years. These results suggest that as significant as institutional factors were for the expansion of markets, technology factors may have been even more important.
主题Development Economics ; International Macroeconomics ; International Trade and Regional Economics
关键词Currency agreement Customs liberalization Market size Steam train Trade Transportation technology
URLhttps://cepr.org/publications/dp6793
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/535606
推荐引用方式
GB/T 7714
David Jaeger,Daniele Paserman,Esteban Klor,et al. DP6793 The Struggle for Palestinian Hearts and Minds: Violence and Public Opinion in the Second Intifada. 2008.
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