The development of pre-industrial Europe was driven by the expansion of trade. This paper describes the patterns of trade and shows how they can be understood in terms of differences in trading costs. It discusses how the different levels of trade?from local to transoceanic-contributed, both...

In pre-industrial Europe, growth was driven by the expansion of trade, and the expansion of trade was driven by falling trading costs. This paper discusses the mechanisms linking these processes: profit-seeking behavior by merchants, changes in the organization of production, technological...

An influential literature in early modern economic history uses “distance from” as an instrumental or a control variable. I show that “distance from Wittenberg” and “distance from Mainz,” two prominent instruments for the adoption of Protestantism and printing technology, have...

Did long-distance trade in the Roman world operate on a sufficiently big scale to increase the overall size of markets, enabling specialization of labor and thus Smithian growth? Although the Malthusian model represents the dominant view to describe the economic performance of the ancient world,...

Spain's financial position during the late 19th and early 20th century has usually been presented as one of persistent deficit on current account, which resulted from her integration into international commodity and factor markets and this, in turn, slowed down growth. In this essay a...

Recent archaeological findings indicate that the Hellenistic and Roman economy was a specialized market economy that obtained levels of factor productivity that appear to be on a par with levels current on the eve of the Industrial Revolution. This raises the question when that economy began to...

Spain’s financial position during the late 19th and early 20th century has usually been presented as one of persistent deficit on current account, which resulted from her integration into international commodity and factor markets and this, in turn, slowed down growth. In this essay a...

On average, the poor European periphery converged on the rich industrial core in the four or five decades prior to World War I. Some, like the three Scandinavian economies, used industrialization to achieve a spectacular convergence on the leaders, especially in real wages and living standards....

This text attempts to survey the studies on the history of international economic relations in Portugal. To begin with, it states, in a more general analysis, that the research on the history of international economic relations in Portugal has focussed mainly on the history of the international...