Networks and trade costs in commodity markets during the late nineteenth century: a new dataset and evidence

Alexander Pütz, Pierre L Siklos and Christoph Sulewski

European Review of Economic History, 2020, vol. 24, issue 4, 675-695

Abstract: A new dataset of weekly wheat prices during the 1898–1914 is generated. Using variance decompositions from vector autoregressive models, a network of nine wheat markets during the sample period is constructed and information spillovers between these markets are analyzed. Our results indicate that trade costs are a significant determinant of the relative importance of information transmission in the continental European wheat trade.

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:oup:ereveh:v:24:y:2020:i:4:p:675-695.

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