Scandinavian Working Papers in Economics
Working Papers,
Lund University, Department of Economics
No 2014:3: Grain Market Integration in the Baltic Sea Region in the 19th Century
Fredrik N. G. Andersson () and Jonas Ljungberg ()
Additional contact information
Fredrik N. G. Andersson: Department of Economics, Lund University, Postal: Department of Economics, School of Economics and Management, Lund University, Box 7082, S-220 07 Lund, Sweden
Jonas Ljungberg: Department of Economic History, Lund University
Abstract: This paper explores the development of market integration within the Baltic Sea region as well as between the region and England, from the early 1840s to around 1890. It exploits two new datasets on grain prices. The paper applies a new method for measuring market integration by combining a dynamic factor model with wavelet analysis. A gradual yardstick is suggested and the role of distance analyzed. Wheat and rye markets became highly integrated whereas the cheaper grains lagged. Integration progressed geographically and conclusions emphasize traded volumes and transport cost.
Keywords: Baltic Sea Region; grain prices; market integration; wavelet analysis; dynamic factor model
41 pages, February 11, 2014
Full text files
WP14_3.pdf
Questions (including download problems) about the papers in this series should be directed to Iker Arregui Alegria ()
Report other problems with accessing this service to Sune Karlsson ().
RePEc:hhs:lunewp:2014_003This page generated on 2024-09-13 22:16:10.