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Brokers and Market Microstructures in Black Sea Grain Trade. Preliminary Observations from Varna (Mid-19th – Early 20th Century)

Author

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  • Andreas Lyberatos

    (Panteion University of Social & Political Sciences, Department of Political Science and History, Greece)

Abstract

The paper explores the role of intermediaries and market microstructures in Black Sea Grain Trade through the example of the case of Varna and the wider region of the Bulgarian Black Sea coast. It focuses particularly on the transition from the late Ottoman, largely unregulated, regional grain markets to the period of autonomous Bulgaria (1878-1908), when international and domestic, economic and social pressures invited the Bulgarian authorities to intervene in local economies and try to regulate the grain markets and the sales of grain from the hinterland to the port-cities. The case of Varna shows that these efforts for institutional change corresponded to – and were largely provoked in the framework of – struggles for control of the processes of agricultural surplus extraction in the hinterland of the port outlets, struggles, which had a discernible ethnic dimension.

Suggested Citation

  • Andreas Lyberatos, 2020. "Brokers and Market Microstructures in Black Sea Grain Trade. Preliminary Observations from Varna (Mid-19th – Early 20th Century)," Proceedings of the Centre for Economic History Research, Centre for Economic History Research, vol. 5, pages 13-26, November.
    • Handle: RePEc:ceh:journl:y:2020:v:5:p:13-26
    as

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    References listed on IDEAS

    as
    1. Daniel F. Spulber, 1996. "Market Microstructure and Intermediation," Journal of Economic Perspectives, American Economic Association, vol. 10(3), pages 135-152, Summer.
    2. Grossman, Sanford J, 1992. "The Informational Role of Upstairs and Downstairs Trading," The Journal of Business, University of Chicago Press, vol. 65(4), pages 509-528, October.
    3. Curtin,Philip D., 1984. "Cross-Cultural Trade in World History," Cambridge Books, Cambridge University Press, number 9780521269315, January.
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    More about this item

    Keywords

    Grain Trade; Brokers; Market Microstructures; Black Sea Grain Trade; Bulgarian Economy; Greek Trade Diaspora;
    All these keywords.

    JEL classification:

    • N73 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - Europe: Pre-1913
    • N23 - Economic History - - Financial Markets and Institutions - - - Europe: Pre-1913
    • N93 - Economic History - - Regional and Urban History - - - Europe: Pre-1913

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