Trading Costs, the Expansion of Trade and Economic Growth in Pre-Industrial Europe
Dartmouth, Dept. Of Economics, Working Paper 00-05
35 Pages Posted: 11 Jan 2001
Date Written: January 2001
Abstract
In pre-industrial Europe, growth was driven by the expansion of trade, and the expansion of trade was driven by falling trading costs. This paper discusses the mechanisms linking these processes: profit-seeking behavior by merchants, changes in the organization of production, technological progress, and urbanization. It then reviews the fluctuations in European economic growth between 1000 and 1600 and argues that these can best be understood in terms of changing trading costs.
JEL Classification: F10, F43, N13, N73, O10, O31, O40, O52, R11
Suggested Citation: Suggested Citation
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