Tariffs, Trains, and Trade: The Role of Institutions versus Technology in the Expansion of Markets
Year: 2008
Type: article
Abstract: This paper studies the emergence of the increasingly unified commodity market in Central Europe in the mid-19th century. Two major changes characterize this era: first, the reduction or abolition of tariffs among members of the German customs union called Zollverein, and second, the arrival of railroad networks that revolutionized the transportation of key commodities. Both of these changes were implemented gradually and selectively. This setting thus provides insights into the relative impact of institutions--the states tariff policies--and new technologiesthe railroad networkson the emergence of a pan-European goods market. We use grain prices
Authors: Wolfgang Keller, Carol H. Shiue
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W1606322709