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Market Integration in Eastern Mediterranean and Europe from the Sixteenth Century until World War I

Author

Listed:
  • Ceylan, Pınar
  • Karaman, Kivanc
  • Pamuk, Sevket

Abstract

This study investigates the evolution of market integration in Ottoman Eastern Mediterranean and Europe until World War I. We find that market integration levels were the highest in northwest Europe while Ottoman lands were part of the less integrated periphery. Over the centuries, most European polities experienced gradual gains in integration but Ottoman integration levels fluctuated and significant gains occurred only in the nineteenth century. These patterns suggest that European market integration began before the technological breakthroughs of the nineteenth century, driven by political and institutional changes, and the Ottoman Eastern Mediterranean was only partially involved in this process.

Suggested Citation

  • Ceylan, Pınar & Karaman, Kivanc & Pamuk, Sevket, 2024. "Market Integration in Eastern Mediterranean and Europe from the Sixteenth Century until World War I," CEPR Discussion Papers 18883, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:18883
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    More about this item

    Keywords

    market integration; Institutions; State capacity; Ottoman empire; Middle east;
    All these keywords.

    JEL classification:

    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-
    • N15 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Asia including Middle East
    • F15 - International Economics - - Trade - - - Economic Integration

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