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On the Political Foundations of the Late Medieval Commercial Revolution: Genoa During the Twelfth and Thirteenth Centuries

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  • Greif, Avner

Abstract

Although the late medieval Commercial Revolution is considered to be a watershed in the economic history of Europe, the analysis of the interrelationship between political and economic systems in bringing about this period of economic growth has been neglected. This article conducts such an analysis with respect to the city of Genoa during the twelfth and thirteenth centuries. Viewing political institutions as self-enforcing agreements rather than as exogenous rules, I present and analyze the nature and evolution of Genoa's political systems and the relations between these systems and economic growth.

Suggested Citation

  • Greif, Avner, 1994. "On the Political Foundations of the Late Medieval Commercial Revolution: Genoa During the Twelfth and Thirteenth Centuries," The Journal of Economic History, Cambridge University Press, vol. 54(2), pages 271-287, June.
    • Handle: RePEc:cup:jechis:v:54:y:1994:i:02:p:271-287_01
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    1. Korkut Alp Erturk, 2019. "Elite Collective Agency and the State," Working Paper Series, Department of Economics, University of Utah 2019_04, University of Utah, Department of Economics.
    2. Wahl, Fabian, 2016. "Does medieval trade still matter? Historical trade centers, agglomeration and contemporary economic development," Regional Science and Urban Economics, Elsevier, vol. 60(C), pages 50-60.
    3. César Calderón & Alberto Chong, 2006. "Rent Seeking and Democracy in Latin America: What Drives What?," Research Department Publications 4435, Inter-American Development Bank, Research Department.
    4. Husain, Zakir & Bhattacharya, Rabindra N., 2004. "Common pool resources and contextual factors: Evolution of a fishermen's cooperative in Calcutta," Ecological Economics, Elsevier, vol. 50(3-4), pages 201-217, October.
    5. Alberto Chong & Luisa Zanforlin, 2004. "Inward-Looking Policies, Institutions, Autocrats, and Economic Growth in Latin America: An Empirical Exploration," Public Choice, Springer, vol. 121(3), pages 335-361, February.
    6. Eiji Yamamura, 2024. "The first alumni donation in 1880 in Japan: social image and the open-academic record system," Papers 2409.08415, arXiv.org.
    7. Gindis, David & Hodgson, Geoffrey M. & Huang, Kainan & Pistor, Katharina, 2017. "Legal institutionalism: Capitalism and the constitutive role of lawAuthor-Name: Deakin, Simon," Journal of Comparative Economics, Elsevier, vol. 45(1), pages 188-200.
    8. Rudolf Richter, 2007. "The Market as Organization," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 163(3), pages 483-492, September.
    9. Mika Kallioinen, 2017. "Inter‐communal institutions in medieval trade," Economic History Review, Economic History Society, vol. 70(4), pages 1131-1152, November.
    10. Van Bavel, Bas, 2015. "History as a laboratory to better understand the formation of institutions," Journal of Institutional Economics, Cambridge University Press, vol. 11(1), pages 69-91, March.
    11. Belloc Marianna, 2009. "Cross-Cultural Trade and Institutional Stability," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 9(1), pages 1-25, October.
    12. Lyttkens, Carl Hampus, 2010. "Institutions, taxation, and market relationships in ancient Athens," Journal of Institutional Economics, Cambridge University Press, vol. 6(4), pages 505-527, December.
    13. Miguel Laborda Pemán & Tine De Moor, 2012. "A Tale of Two Commons: Some Preliminary Hypotheses on the Long-Term Development of the Commons in Western and Eastern Europe, 1000-1900," Working Papers 0031, Utrecht University, Centre for Global Economic History.
    14. Guido Merzoni & Federico Trombetta, 2016. "The cost of doing the right thing. A model of populism with rent-seeking politicians and the economic crisis," DISEIS - Quaderni del Dipartimento di Economia internazionale, delle istituzioni e dello sviluppo dis1602, Università Cattolica del Sacro Cuore, Dipartimento di Economia internazionale, delle istituzioni e dello sviluppo (DISEIS).
    15. Belloc, Marianna, 2005. "Cross-Cultural Trade and Internal Institutional Stability," Department of Economics, Working Paper Series qt1wj7v0sn, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    16. Christian Bjørnskov, 2012. "How Does Social Trust Affect Economic Growth?," Southern Economic Journal, John Wiley & Sons, vol. 78(4), pages 1346-1368, April.
    17. Baron, David P., 2001. "Private Ordering on the Internet: The eBay Community of Traders," Research Papers 1709, Stanford University, Graduate School of Business.
    18. Simon Deakin & David Gindis & Geoffrey M. Hodgson & Kainan Huang & Katharina Pistor, 2015. "Legal Institutionalism: Capitalism & the Constitutive Role of Law," Working Papers wp468, Centre for Business Research, University of Cambridge.
    19. van Bavel, Bas, 2016. "The Invisible Hand?: How Market Economies have Emerged and Declined Since AD 500," OUP Catalogue, Oxford University Press, number 9780199608133.
    20. Nabamita Dutta & Lisa Giddings & Russell S. Sobel, 2022. "Does Trust Always Help Gender Role Attitudes? The Role of Individualism and Collectivism," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 159(1), pages 379-408, January.
    21. Carl Lyttkens, 2006. "Reflections on the Origins of the Polis," Constitutional Political Economy, Springer, vol. 17(1), pages 31-48, March.
    22. George Halkos & Nickolas Kyriazis, 2005. "A Naval Revolution and Institutional Change: The Case of the United Provinces," European Journal of Law and Economics, Springer, vol. 19(1), pages 41-68, January.
    23. César Calderón & Alberto Chong, 2006. "Búsqueda de rentas y democracia en América Latina: ¿Qué impulsa a qué?," Research Department Publications 4436, Inter-American Development Bank, Research Department.
    24. Maristella Botticini & Pietro Buri & Massimo Marinacci, 2023. "Presidential Address 2023: The Beauty of Uncertainty: The Rise of Insurance Contracts and Markets in Medieval Europe," Journal of the European Economic Association, European Economic Association, vol. 21(6), pages 2287-2326.
    25. Geoffrey Hodgson, 2002. "The Evolution of Institutions: An Agenda for Future Theoretical Research," Constitutional Political Economy, Springer, vol. 13(2), pages 111-127, June.

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