Integration of global commodity markets in the early modern era

Klas Rönnbäck

European Review of Economic History, 2009, vol. 13, issue 1, 95-120

Abstract: In this article, I test whether there is any evidence of price convergence on intercontinental commodity markets prior to the nineteenth century. I gather price data on eleven commodity markets important to early modern intercontinental trade. The main conclusion is that many of the commodity markets do show signs of price convergence even prior to the nineteenth century. The question of an early globalisation can thus not be dismissed as easily as has often been done so far.

Date: 2009
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